GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Stock Holdings Trimmed by LPL Financial LLC

Posted by on May 18th, 2023

LPL Financial LLC lessened its position in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Rating) by 64.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,414 shares of the company’s stock after selling 131,740 shares during the period. LPL Financial LLC’s holdings in GLOBALFOUNDRIES were worth $3,956,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GFS. Janney Montgomery Scott LLC lifted its holdings in shares of GLOBALFOUNDRIES by 1.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 13,256 shares of the company’s stock worth $641,000 after purchasing an additional 191 shares during the last quarter. CWM LLC boosted its holdings in shares of GLOBALFOUNDRIES by 35.1% during the third quarter. CWM LLC now owns 747 shares of the company’s stock valued at $36,000 after acquiring an additional 194 shares during the period. Ibex Wealth Advisors grew its position in shares of GLOBALFOUNDRIES by 0.4% during the fourth quarter. Ibex Wealth Advisors now owns 47,113 shares of the company’s stock worth $2,539,000 after acquiring an additional 205 shares during the last quarter. Balentine LLC increased its holdings in shares of GLOBALFOUNDRIES by 5.2% in the 4th quarter. Balentine LLC now owns 4,601 shares of the company’s stock worth $248,000 after acquiring an additional 227 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of GLOBALFOUNDRIES by 3.5% in the 3rd quarter. ProShare Advisors LLC now owns 6,705 shares of the company’s stock worth $325,000 after acquiring an additional 228 shares during the period. Institutional investors and hedge funds own 16.08% of the company’s stock.

GLOBALFOUNDRIES Trading Up 2.8 %

Shares of NASDAQ GFS opened at $55.74 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.94 and a debt-to-equity ratio of 0.22. GLOBALFOUNDRIES Inc. has a 12 month low of $36.81 and a 12 month high of $72.50. The company has a market cap of $30.53 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 8.20 and a beta of 1.96. The business has a fifty day simple moving average of $63.44 and a 200-day simple moving average of $62.02.

GLOBALFOUNDRIES (NASDAQ:GFS – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.10. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.07 billion. GLOBALFOUNDRIES had a net margin of 19.02% and a return on equity of 17.03%. Sell-side analysts predict that GLOBALFOUNDRIES Inc. will post 2.05 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of GLOBALFOUNDRIES from $70.00 to $75.00 in a research note on Tuesday, February 14th. Citigroup boosted their price target on GLOBALFOUNDRIES from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, February 15th. Credit Suisse Group lifted their price objective on shares of GLOBALFOUNDRIES from $78.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. Susquehanna increased their target price on shares of GLOBALFOUNDRIES from $76.00 to $84.00 and gave the company a “positive” rating in a research report on Wednesday, February 15th. Finally, TD Cowen dropped their price target on shares of GLOBALFOUNDRIES from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 10th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, GLOBALFOUNDRIES presently has an average rating of “Moderate Buy” and a consensus price target of $78.87.

GLOBALFOUNDRIES Profile

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GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. It manufactures integrated circuits, which enable various electronic devices that are pervasive. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems, as well as offers mainstream wafer fabrication services and technologies.

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Institutional Ownership by Quarter for GLOBALFOUNDRIES (NASDAQ:GFS)

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