Louisiana State Employees Retirement System Invests $2.64 Million in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Louisiana State Employees Retirement System acquired a new stake in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 43,500 shares of the company's stock, valued at approximately $2,636,000.

A number of other large investors have also recently modified their holdings of GFS. ST Germain D J Co. Inc. acquired a new position in shares of GLOBALFOUNDRIES in the 2nd quarter valued at about $26,000. Advisors Asset Management Inc. bought a new stake in shares of GLOBALFOUNDRIES during the third quarter valued at approximately $33,000. Natixis acquired a new position in shares of GLOBALFOUNDRIES during the fourth quarter worth approximately $38,000. PNC Financial Services Group Inc. grew its position in GLOBALFOUNDRIES by 442.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 895 shares of the company's stock valued at $52,000 after purchasing an additional 730 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in GLOBALFOUNDRIES by 79.3% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 771 shares of the company's stock valued at $56,000 after buying an additional 341 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GFS. JPMorgan Chase & Co. lowered their target price on GLOBALFOUNDRIES from $56.00 to $55.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 14th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 price objective (down from $70.00) on shares of GLOBALFOUNDRIES in a research note on Monday, April 8th. Evercore ISI started coverage on GLOBALFOUNDRIES in a research report on Tuesday. They issued an "outperform" rating and a $71.00 price target for the company. Robert W. Baird cut 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. Finally, Bank of America cut their price objective on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, GLOBALFOUNDRIES currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.08.

GLOBALFOUNDRIES Trading Up 1.1 %

Shares of GFS traded up $0.54 during mid-day trading on Tuesday, reaching $47.80. 1,175,839 shares of the company's stock traded hands, compared to its average volume of 1,564,430. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.04 and a quick ratio of 1.56. The stock's 50-day moving average is $52.65 and its two-hundred day moving average is $54.82. GLOBALFOUNDRIES Inc. has a 12 month low of $46.73 and a 12 month high of $68.57. The stock has a market cap of $26.18 billion, a P/E ratio of 25.98, a P/E/G ratio of 4.17 and a beta of 1.61.

GLOBALFOUNDRIES (NASDAQ:GFS - Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.85 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. GLOBALFOUNDRIES's revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts forecast that GLOBALFOUNDRIES Inc. will post 1 earnings per share for the current fiscal 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.