Victory Capital Management Inc. Boosts Stock Holdings in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Victory Capital Management Inc. lifted its holdings in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 0.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 251,210 shares of the company’s stock after purchasing an additional 1,282 shares during the period. Victory Capital Management Inc.’s holdings in GLOBALFOUNDRIES were worth $12,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC boosted its position in GLOBALFOUNDRIES by 29.6% during the fourth quarter. Private Advisor Group LLC now owns 7,931 shares of the company’s stock valued at $481,000 after purchasing an additional 1,811 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of GLOBALFOUNDRIES by 19.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 143,870 shares of the company’s stock valued at $8,719,000 after buying an additional 23,414 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of GLOBALFOUNDRIES by 124.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 488,048 shares of the company’s stock worth $29,581,000 after acquiring an additional 270,520 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of GLOBALFOUNDRIES by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,742 shares of the company’s stock worth $1,810,000 after acquiring an additional 1,320 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in GLOBALFOUNDRIES by 13.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,797 shares of the company’s stock valued at $1,684,000 after acquiring an additional 3,345 shares during the last quarter.

GLOBALFOUNDRIES Price Performance

NASDAQ:GFS opened at $39.75 on Friday. The firm’s fifty day moving average is $47.49 and its two-hundred day moving average is $49.65. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 6.64 and a beta of 1.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.59 and a current ratio of 2.22. GLOBALFOUNDRIES Inc. has a one year low of $39.12 and a one year high of $62.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its earnings results on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. GLOBALFOUNDRIES had a return on equity of 7.75% and a net margin of 11.82%. The company’s revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. Research analysts expect that GLOBALFOUNDRIES Inc. will post 1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Cowen reduced their price target on GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of GLOBALFOUNDRIES in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of GLOBALFOUNDRIES in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price target on GLOBALFOUNDRIES from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of GLOBALFOUNDRIES in a research report on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.54.

GLOBALFOUNDRIES Profile

GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units; and offers mainstream wafer fabrication services and technologies.