International Assets Investment Management LLC Increases Position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

International Assets Investment Management LLC boosted its stake in GLOBALFOUNDRIES Inc. (NASDAQ:GFS - Free Report) by 5,093.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 531,462 shares of the company's stock after purchasing an additional 521,228 shares during the period. International Assets Investment Management LLC owned approximately 0.10% of GLOBALFOUNDRIES worth $32,207,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GFS. Penserra Capital Management LLC grew its stake 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 acquiring an additional 19,118 shares in the last quarter. FMR LLC lifted its position in shares of GLOBALFOUNDRIES by 18.7% during the third quarter. FMR LLC now owns 35,205,461 shares of the company's stock worth $2,048,606,000 after purchasing an additional 5,544,907 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of GLOBALFOUNDRIES by 43.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 120,456 shares of the company's stock worth $7,009,000 after purchasing an additional 36,595 shares during the last quarter. Profund Advisors LLC lifted its position in shares of GLOBALFOUNDRIES by 40.9% during the third quarter. Profund Advisors LLC now owns 38,340 shares of the company's stock worth $2,231,000 after purchasing an additional 11,124 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of GLOBALFOUNDRIES by 36.1% during the third quarter. Ameriprise Financial Inc. now owns 3,160,878 shares of the company's stock worth $183,931,000 after purchasing an additional 838,355 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 14th. Bank of America cut shares of GLOBALFOUNDRIES from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $70.00 to $65.00 in a research report on Friday, December 15th. Cantor Fitzgerald restated a "neutral" rating and issued a $55.00 target price (down from $70.00) on shares of GLOBALFOUNDRIES in a research note on Monday. Citigroup downgraded GLOBALFOUNDRIES from a "buy" rating to a "neutral" rating and decreased their target price for the company from $70.00 to $56.00 in a research note on Wednesday, February 14th. Finally, Robert W. Baird decreased their target price on GLOBALFOUNDRIES from $70.00 to $63.00 and set an "outperform" rating for the company in a research note on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, GLOBALFOUNDRIES currently has an average rating of "Moderate Buy" and a consensus target price of $63.25.

GLOBALFOUNDRIES Price Performance

NASDAQ:GFS traded down $2.34 during midday trading on Wednesday, hitting $49.35. 1,876,137 shares of the stock were exchanged, compared to its average volume of 1,557,728. GLOBALFOUNDRIES Inc. has a one year low of $48.12 and a one year high of $69.00. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 4.24 and a beta of 1.61. The business has a 50-day moving average price of $52.93 and a two-hundred day moving average price of $55.01. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

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