GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. boosted its position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,289 shares of the company’s stock after buying an additional 583 shares during the quarter. Meeder Asset Management Inc.’s holdings in GLOBALFOUNDRIES were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mubadala Investment Co PJSC acquired a new position in GLOBALFOUNDRIES in the fourth quarter worth about $28,451,821,000. First Trust Advisors LP lifted 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 buying an additional 201,611 shares during the last quarter. Kodai Capital Management LP bought a new position in GLOBALFOUNDRIES during the 4th quarter worth approximately $67,351,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in GLOBALFOUNDRIES by 7.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock worth $59,018,000 after buying an additional 68,626 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in GLOBALFOUNDRIES by 5,093.1% during the 4th quarter. International Assets Investment Management LLC now owns 531,462 shares of the company’s stock worth $32,207,000 after buying an additional 521,228 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GFS. Jefferies Financial Group began coverage on GLOBALFOUNDRIES in a report on Monday, May 13th. They set a “buy” rating and a $62.00 target price on the stock. Cantor Fitzgerald reaffirmed 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. Needham & Company LLC reaffirmed a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, May 8th. HSBC dropped their price target on GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Finally, Morgan Stanley increased their price target on GLOBALFOUNDRIES from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.62.

GLOBALFOUNDRIES Stock Performance

GFS traded up $0.24 during trading hours on Monday, hitting $54.72. The company’s stock had a trading volume of 1,005,545 shares, compared to its average volume of 1,593,383. GLOBALFOUNDRIES Inc. has a fifty-two week low of $45.52 and a fifty-two week high of $68.57. 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 firm has a market capitalization of $30.19 billion, a PE ratio of 33.77, a PEG ratio of 5.13 and a beta of 1.56. The company has a 50-day simple moving average of $51.21 and a 200 day simple moving average of $52.58.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its earnings results on Tuesday, May 7th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.15 by $0.09. GLOBALFOUNDRIES had a return on equity of 8.78% and a net margin of 12.66%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. As a group, sell-side analysts expect that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current year.

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.