State Board of Administration of Florida Retirement System Takes Position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Defense World · Aug 17, 2022 17:10

State Board of Administration of Florida Retirement System acquired a new stake in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,970 shares of the company's stock, valued at approximately $497,000.

Several other hedge funds have also recently made changes to their positions in GFS. IndexIQ Advisors LLC purchased a new stake in GLOBALFOUNDRIES during the first quarter valued at approximately $26,000. Fagan Associates Inc. increased its holdings in GLOBALFOUNDRIES by 17.7% during the first quarter. Fagan Associates Inc. now owns 51,902 shares of the company's stock valued at $3,240,000 after buying an additional 7,795 shares during the last quarter. AMF Tjanstepension AB purchased a new stake in GLOBALFOUNDRIES during the first quarter valued at approximately $11,682,000. New York State Common Retirement Fund increased its holdings in GLOBALFOUNDRIES by 1.5% during the first quarter. New York State Common Retirement Fund now owns 60,077 shares of the company's stock valued at $3,750,000 after buying an additional 877 shares during the last quarter. Finally, Prospera Financial Services Inc purchased a new stake in GLOBALFOUNDRIES during the first quarter valued at approximately $28,000. 12.09% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of GLOBALFOUNDRIES from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, August 10th. Susquehanna Bancshares reduced their price objective on shares of GLOBALFOUNDRIES from $85.00 to $75.00 in a research note on Monday, July 11th. Needham & Company LLC increased their price objective on shares of GLOBALFOUNDRIES from $50.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, August 10th. Bank of America reduced their price objective on shares of GLOBALFOUNDRIES from $75.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, June 29th. Finally, Susquehanna reduced their price objective on shares of GLOBALFOUNDRIES from $85.00 to $75.00 in a research note on Monday, July 11th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $74.60.

GLOBALFOUNDRIES Price Performance

GFS stock opened at $63.96 on Wednesday. GLOBALFOUNDRIES Inc. has a 52 week low of $36.81 and a 52 week high of $79.49. The company has a quick ratio of 1.28, a current ratio of 1.66 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $48.49 and a two-hundred day simple moving average of $54.36. The firm has a market capitalization of $34.02 billion and a P/E ratio of 71.07.

GLOBALFOUNDRIES Company Profile

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GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. It manufactures integrated circuits, which enable various electronic devices that are pervasive. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems, as well as offers mainstream wafer fabrication services and technologies.

State Board of Administration of Florida Retirement System Takes Position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Analysts Set New Price Targets

GLOBALFOUNDRIES Price Performance

GLOBALFOUNDRIES Company Profile

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