GlobalFoundries Inc. (NASDAQ:GFS) Shares Acquired by Axa S.A.

Axa S.A. increased its position in GlobalFoundries Inc. (NASDAQ:GFS) by 7.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 39,815 shares of the company’s stock after buying an additional 2,696 shares during the period. Axa S.A.’s holdings in GlobalFoundries were worth $2,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GFS. Mubadala Investment Co PJSC purchased a new position in shares of GlobalFoundries in the 4th quarter worth about $28,451,821,000. Marshall Wace LLP raised its holdings in GlobalFoundries by 108.6% in the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock valued at $126,242,000 after buying an additional 1,299,687 shares during the period. First Trust Advisors LP lifted its position in GlobalFoundries by 9.9% during the fourth quarter. First Trust Advisors LP now owns 2,240,096 shares of the company’s stock valued at $135,750,000 after buying an additional 201,611 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in GlobalFoundries by 7.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock worth $59,018,000 after buying an additional 68,626 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of GlobalFoundries by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock worth $33,063,000 after acquiring an additional 77,581 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $65.00 price target on shares of GlobalFoundries in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 target price on shares of GlobalFoundries in a research note on Tuesday, July 16th. Evercore ISI reduced their price target on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, TD Cowen lowered their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, GlobalFoundries has an average rating of “Moderate Buy” and an average target price of $57.54.

GlobalFoundries Stock Down 1.7 %

GlobalFoundries stock opened at $40.25 on Tuesday. 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 $38.49 and a one year high of $62.61. The company has a 50-day simple moving average of $44.42 and a 200-day simple moving average of $48.64. The firm has a market capitalization of $22.21 billion, a P/E ratio of 24.85, a P/E/G ratio of 6.36 and a beta of 1.54.

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

GlobalFoundries Profile

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.