26,883 Shares in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Purchased by Duality Advisers LP

Duality Advisers LP purchased a new position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 26,883 shares of the company’s stock, valued at approximately $1,401,000.

A number of other hedge funds have also bought and sold shares of GFS. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in GLOBALFOUNDRIES by 50.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock valued at $34,000 after acquiring an additional 187 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of GLOBALFOUNDRIES by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 34,789 shares of the company’s stock valued at $2,108,000 after buying an additional 340 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of GLOBALFOUNDRIES by 31.6% during the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock valued at $88,000 after buying an additional 363 shares during the last quarter. ICICI Prudential Asset Management Co Ltd raised its holdings in shares of GLOBALFOUNDRIES by 9.1% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 5,316 shares of the company’s stock valued at $322,000 after buying an additional 443 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in shares of GLOBALFOUNDRIES by 6.9% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 7,205 shares of the company’s stock valued at $404,000 after buying an additional 462 shares during the last quarter.

GLOBALFOUNDRIES Trading Up 3.9 %

NASDAQ GFS traded up $2.09 on Friday, hitting $55.03. 605,491 shares of the stock were exchanged, compared to its average volume of 1,593,492. GLOBALFOUNDRIES Inc. has a 52-week low of $45.52 and a 52-week high of $68.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.18 and a quick ratio of 1.59. The company has a market capitalization of $30.36 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 5.18 and a beta of 1.56. The company’s 50-day moving average price is $51.10 and its two-hundred day moving average price is $52.76.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.09. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Research analysts predict that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GFS shares. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 target price (down previously from $70.00) on shares of GLOBALFOUNDRIES in a report on Monday, April 8th. HSBC dropped their target price on GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Evercore ISI started coverage on GLOBALFOUNDRIES in a report on Tuesday, April 16th. They set an “outperform” rating and a $71.00 target price on the stock. Jefferies Financial Group started coverage on GLOBALFOUNDRIES in a report on Monday, May 13th. They set a “buy” rating and a $62.00 target price on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.62.

About GLOBALFOUNDRIES

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.