GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. reduced its stake in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 8.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,714 shares of the company’s stock after selling 453 shares during the period. E Fund Management Co. Ltd.’s holdings in GLOBALFOUNDRIES were worth $286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in GLOBALFOUNDRIES by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock worth $34,000 after purchasing an additional 187 shares during the period. PNC Financial Services Group Inc. grew its position in GLOBALFOUNDRIES by 442.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock worth $52,000 after purchasing an additional 730 shares during the period. Advisors Preferred LLC acquired a new stake in GLOBALFOUNDRIES during the 3rd quarter worth about $58,000. Blue Trust Inc. grew its position in GLOBALFOUNDRIES by 31.6% during the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after purchasing an additional 363 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in GLOBALFOUNDRIES by 230.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,041 shares of the company’s stock worth $119,000 after purchasing an additional 1,423 shares during the period.

Analyst Ratings Changes

GFS has been the topic of a number of analyst reports. Susquehanna raised their target price on GLOBALFOUNDRIES from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday. Robert W. Baird cut their price target on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Morgan Stanley lifted their price target on GLOBALFOUNDRIES from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target (down previously from $70.00) on shares of GLOBALFOUNDRIES in a research note on Monday, April 8th. Finally, Citigroup lowered GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and cut their price target for the company from $70.00 to $56.00 in a research note on Wednesday, February 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.23.

GLOBALFOUNDRIES Price Performance

Shares of GLOBALFOUNDRIES stock traded down $0.76 on Thursday, hitting $51.60. 1,023,151 shares of the company were exchanged, compared to its average volume of 1,553,968. The company has a quick ratio of 1.56, a current ratio of 2.04 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $50.75 and a 200 day moving average price of $53.85. The stock has a market capitalization of $28.56 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 4.16 and a beta of 1.61. GLOBALFOUNDRIES Inc. has a 1-year low of $45.52 and a 1-year high of $68.57.

GLOBALFOUNDRIES (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS. As a group, sell-side analysts predict that GLOBALFOUNDRIES Inc. will post 1 earnings per share for the current fiscal year.

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.