Ethic Inc. decreased its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 54.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,361 shares of the company's stock after selling 19,493 shares during the quarter. Ethic Inc.'s holdings in GlobalFoundries were worth $589,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of GlobalFoundries by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 126,266 shares of the company's stock valued at $4,660,000 after acquiring an additional 17,143 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of GlobalFoundries by 9.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 907,446 shares of the company's stock worth $33,476,000 after purchasing an additional 79,670 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in GlobalFoundries in the fourth quarter worth approximately $1,004,000. Janney Montgomery Scott LLC lifted its position in GlobalFoundries by 49.0% in the first quarter. Janney Montgomery Scott LLC now owns 31,342 shares of the company's stock worth $1,157,000 after purchasing an additional 10,313 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of GlobalFoundries by 9,009.1% during the 1st quarter. GAMMA Investing LLC now owns 24,139 shares of the company's stock valued at $891,000 after acquiring an additional 23,874 shares during the last quarter.
Wall Street Analysts Forecast Growth
GFS has been the subject of several recent research reports. Wedbush cut their price objective on GlobalFoundries from $48.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Argus assumed coverage on GlobalFoundries in a report on Tuesday, July 1st. They set a "buy" rating and a $52.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of GlobalFoundries in a research report on Thursday, July 10th. They issued a "neutral" rating and a $40.00 price objective for the company. Finally, Citigroup increased their price target on shares of GlobalFoundries from $35.00 to $42.00 and gave the company a "neutral" rating in a report on Monday, July 7th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.92.
Get Our Latest Research Report on GlobalFoundries
GlobalFoundries Stock Performance
GFS traded up $0.0040 during midday trading on Tuesday, reaching $34.4340. The company had a trading volume of 237,480 shares, compared to its average volume of 2,088,916. The stock has a market cap of $19.04 billion, a PE ratio of -164.06, a P/E/G ratio of 1.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.92 and a current ratio of 2.63. The business has a 50-day moving average price of $37.40 and a two-hundred day moving average price of $37.35. GlobalFoundries Inc. has a 12-month low of $29.77 and a 12-month high of $47.69.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. GlobalFoundries had a negative net margin of 1.68% and a positive return on equity of 6.55%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. GlobalFoundries has set its Q3 2025 guidance at 0.330-0.430 EPS. On average, sell-side analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.
About GlobalFoundries
(
Free Report)
GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.
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