Qube Research & Technologies Ltd Buys Shares of 30959 GLOBALFOUNDRIES Inc. (NASDAQ:GFS) – Defense World
Posted by admin on Aug 14th, 2022 
Qube Research & Technologies Ltd acquired a new position in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Rating) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 30,959 shares of the company’s stock, valued at approximately $1,932,000.
Several other institutional investors and hedge funds have also made changes to their positions in GFS. IndexIQ Advisors LLC purchased a new position in shares of GLOBALFOUNDRIES during the first quarter worth $26,000. Prospera Financial Services Inc purchased a new position in shares of GLOBALFOUNDRIES during the first quarter worth $28,000. Steward Partners Investment Advisory LLC purchased a new position in shares of GLOBALFOUNDRIES during the fourth quarter worth $30,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of GLOBALFOUNDRIES during the fourth quarter worth $35,000. Finally, Rockbridge Investment Management LCC purchased a new position in shares of GLOBALFOUNDRIES during the fourth quarter worth $42,000. 12.09% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:GFS opened at $64.95 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.66 and a quick ratio of 1.35. The firm has a market capitalization of $34.54 billion and a price-to-earnings ratio of 72.17. The company’s 50-day moving average is $48.22 and its two-hundred day moving average is $54.11. GLOBALFOUNDRIES Inc. has a 1-year low of $36.81 and a 1-year high of $79.49.
GFS has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of GLOBALFOUNDRIES from $82.00 to $77.00 in a report on Wednesday, May 11th. Susquehanna Bancshares cut their price objective on shares of GLOBALFOUNDRIES from $85.00 to $75.00 in a report on Monday, July 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of GLOBALFOUNDRIES from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup cut their price objective on shares of GLOBALFOUNDRIES from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Susquehanna cut their price objective on shares of GLOBALFOUNDRIES from $85.00 to $75.00 in a report on Monday, July 11th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, GLOBALFOUNDRIES has an average rating of “Moderate Buy” and an average price target of $74.60.
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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.
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