GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in GLOBALFOUNDRIES Inc. (NASDAQ:GFS - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 960,147 shares of the company's stock after selling 21,742 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.18% of GLOBALFOUNDRIES worth $58,185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Penserra Capital Management LLC boosted its position in shares of GLOBALFOUNDRIES by 63,726.7% during the third quarter. Penserra Capital Management LLC now owns 19,148 shares of the company's stock valued at $1,113,000 after buying an additional 19,118 shares during the last quarter. FMR LLC grew its stake in shares of GLOBALFOUNDRIES by 18.7% in the third quarter. FMR LLC now owns 35,205,461 shares of the company's stock worth $2,048,606,000 after acquiring an additional 5,544,907 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of GLOBALFOUNDRIES by 43.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,456 shares of the company's stock worth $7,009,000 after acquiring an additional 36,595 shares during the period. Profund Advisors LLC raised its holdings in shares of GLOBALFOUNDRIES by 40.9% during the third quarter. Profund Advisors LLC now owns 38,340 shares of the company's stock valued at $2,231,000 after purchasing an additional 11,124 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in GLOBALFOUNDRIES by 36.1% during the third quarter. Ameriprise Financial Inc. now owns 3,160,878 shares of the company's stock valued at $183,931,000 after purchasing an additional 838,355 shares during the period.

GLOBALFOUNDRIES Price Performance

Shares of GFS traded up $0.03 during mid-day trading on Friday, reaching $50.55. The stock had a trading volume of 994,343 shares, compared to its average volume of 1,144,396. The business has a fifty day moving average of $53.28 and a 200 day moving average of $55.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 2.04. The firm has a market cap of $27.69 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 4.27 and a beta of 1.61. GLOBALFOUNDRIES Inc. has a 12 month low of $48.12 and a 12 month high of $69.00.

GLOBALFOUNDRIES (NASDAQ:GFS - Get Free Report) last issued its 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 company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. GLOBALFOUNDRIES's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 EPS. Equities analysts predict that GLOBALFOUNDRIES Inc. will post 1 EPS for the current year.

Wall Street Analyst Weigh In

GFS has been the subject of a number of research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $70.00 target price on shares of GLOBALFOUNDRIES in a research note on Wednesday, February 14th. Bank of America cut GLOBALFOUNDRIES from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $70.00 to $65.00 in a research report on Friday, December 15th. Robert W. Baird reduced their price target on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an "outperform" rating for the company in a research report on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price objective on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a "neutral" rating on the stock in a report on Wednesday, February 14th. Finally, Citigroup cut shares of GLOBALFOUNDRIES from a "buy" rating to a "neutral" rating and reduced their target price for the company from $70.00 to $56.00 in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.50.

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.