Principal Financial Group Inc. Grows Position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Principal Financial Group Inc. lifted its position in GLOBALFOUNDRIES Inc. (NASDAQ:GFSFree Report) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,160 shares of the company’s stock after purchasing an additional 321 shares during the period. Principal Financial Group Inc.’s holdings in GLOBALFOUNDRIES were worth $358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ST Germain D J Co. Inc. purchased a new position in GLOBALFOUNDRIES during the second quarter valued at $26,000. Natixis purchased a new position in GLOBALFOUNDRIES during the fourth quarter valued at $38,000. Twin Tree Management LP purchased a new position in GLOBALFOUNDRIES during the second quarter valued at $47,000. Steward Partners Investment Advisory LLC lifted its position in GLOBALFOUNDRIES by 79.3% during the first 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 period. Finally, Wahed Invest LLC lifted its position in GLOBALFOUNDRIES by 70.5% during the second quarter. Wahed Invest LLC now owns 1,134 shares of the company’s stock valued at $73,000 after buying an additional 469 shares during the period. Institutional investors own 14.76% of the company’s stock.

GLOBALFOUNDRIES Trading Down 0.2 %

GLOBALFOUNDRIES stock opened at $55.82 on Tuesday. The business has a 50-day simple moving average of $56.99 and a two-hundred day simple moving average of $56.39. The company has a market cap of $30.58 billion, a P/E ratio of 21.89, a P/E/G ratio of 9.04 and a beta of 1.71. GLOBALFOUNDRIES Inc. has a 52-week low of $48.12 and a 52-week high of $72.50. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GFS shares. Morgan Stanley reduced their price target on GLOBALFOUNDRIES from $73.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, November 8th. JPMorgan Chase & Co. downgraded GLOBALFOUNDRIES from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $65.00 to $56.00 in a report on Monday, February 5th. Wedbush restated an “outperform” rating and set a $70.00 price target on shares of GLOBALFOUNDRIES in a report on Tuesday, November 7th. Bank of America downgraded GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and reduced their price target for the company from $70.00 to $65.00 in a report on Friday, December 15th. Finally, Susquehanna reduced their price target on GLOBALFOUNDRIES from $82.00 to $75.00 and set a “positive” rating for the company in a report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.41.

View Our Latest Analysis on GFS

GLOBALFOUNDRIES Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding GFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GLOBALFOUNDRIES Inc. (NASDAQ:GFSFree Report).

Institutional Ownership by Quarter for GLOBALFOUNDRIES (NASDAQ:GFS)

Receive News & Ratings for GLOBALFOUNDRIES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GLOBALFOUNDRIES and related companies with MarketBeat.com's FREE daily email newsletter.