GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Shares Acquired by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its holdings in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,840 shares of the company’s stock after purchasing an additional 780 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in GLOBALFOUNDRIES were worth $475,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in shares of GLOBALFOUNDRIES during the third quarter valued at $33,000. Natixis purchased a new stake in shares of GLOBALFOUNDRIES during the fourth quarter valued at $38,000. PNC Financial Services Group Inc. grew its holdings in shares of GLOBALFOUNDRIES by 442.4% during the third quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock valued at $52,000 after buying an additional 730 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of GLOBALFOUNDRIES by 79.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 771 shares of the company’s stock valued at $56,000 after buying an additional 341 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new stake in shares of GLOBALFOUNDRIES during the third quarter valued at $58,000.

GLOBALFOUNDRIES Stock Down 1.3 %

GFS opened at $46.26 on Friday. GLOBALFOUNDRIES Inc. has a twelve month low of $46.23 and a twelve month high of $68.57. The company has a quick ratio of 1.56, a current ratio of 2.04 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $52.31 and a 200 day moving average price of $54.64. The company has a market cap of $25.34 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 4.00 and a beta of 1.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts expect that GLOBALFOUNDRIES Inc. will post 1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on GFS. Robert W. Baird lowered their price target on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price target (down from $70.00) on shares of GLOBALFOUNDRIES in a report on Monday, April 8th. Evercore ISI began coverage on shares of GLOBALFOUNDRIES in a report on Tuesday. They issued an “outperform” rating and a $71.00 price target on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $48.00 price target (down from $65.00) on shares of GLOBALFOUNDRIES in a report on Tuesday, March 5th. Finally, Bank of America lowered their price target on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.08.

GLOBALFOUNDRIES Company 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.