Massmutual Trust Co. FSB ADV Invests $59,000 in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Massmutual Trust Co. FSB ADV purchased a new stake in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) in the 2nd quarter, Holdings Channel reports. The fund purchased 1,173 shares of the company’s stock, valued at approximately $59,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mubadala Investment Co PJSC bought a new stake in shares of GLOBALFOUNDRIES during the fourth quarter worth $28,451,821,000. First Trust Advisors LP grew its holdings in GLOBALFOUNDRIES by 9.9% during the 4th quarter. First Trust Advisors LP now owns 2,240,096 shares of the company’s stock worth $135,750,000 after acquiring an additional 201,611 shares during the last quarter. Kodai Capital Management LP bought a new stake in GLOBALFOUNDRIES during the 4th quarter worth about $67,351,000. Mirae Asset Global Investments Co. Ltd. increased its position in GLOBALFOUNDRIES by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock valued at $59,018,000 after acquiring an additional 68,626 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of GLOBALFOUNDRIES by 25.9% in the first quarter. ProShare Advisors LLC now owns 544,325 shares of the company’s stock worth $28,365,000 after acquiring an additional 112,149 shares during the last quarter.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of GLOBALFOUNDRIES in a research note on Tuesday, July 16th. TD Cowen decreased their price objective on GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of GLOBALFOUNDRIES in a research note on Wednesday. Jefferies Financial Group initiated coverage on GLOBALFOUNDRIES in a research note on Monday, May 13th. They set a “buy” rating and a $62.00 price target on the stock. Finally, Bank of America decreased their price target on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.69.

GLOBALFOUNDRIES Trading Down 3.4 %

NASDAQ GFS opened at $43.23 on Wednesday. GLOBALFOUNDRIES Inc. has a 12 month low of $43.18 and a 12 month high of $62.61. The stock has a 50-day simple moving average of $50.91 and a 200 day simple moving average of $51.86. The company has a current ratio of 2.18, a quick ratio of 1.59 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $23.85 billion, a PE ratio of 26.69, a P/E/G ratio of 4.52 and a beta of 1.56.

GLOBALFOUNDRIES (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.09. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. GLOBALFOUNDRIES had a return on equity of 8.78% and a net margin of 12.66%. GLOBALFOUNDRIES’s revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. Research analysts forecast that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current year.

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.