abrdn plc Has $1.40 Million Position in GlobalFoundries Inc. (NASDAQ:GFS)

abrdn plc cut its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,541 shares of the company’s stock after selling 2,102 shares during the period. abrdn plc’s holdings in GlobalFoundries were worth $1,396,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GFS. Allspring Global Investments Holdings LLC bought a new position in shares of GlobalFoundries during the 3rd quarter worth approximately $34,000. Blue Trust Inc. lifted its position in shares of GlobalFoundries by 206.4% during the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after acquiring an additional 745 shares during the period. US Bancorp DE boosted its stake in GlobalFoundries by 77.0% during the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock worth $49,000 after acquiring an additional 530 shares in the last quarter. AM Squared Ltd acquired a new stake in GlobalFoundries in the third quarter worth $60,000. Finally, Advisors Asset Management Inc. increased its stake in GlobalFoundries by 41.0% in the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GFS. Citigroup dropped their price target on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley lowered GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $40.00 target price on shares of GlobalFoundries in a report on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Finally, Robert W. Baird dropped their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Nine 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, the stock currently has an average rating of “Hold” and an average target price of $50.21.

GlobalFoundries Trading Down 1.8 %

Shares of GFS stock opened at $37.74 on Tuesday. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $20.82 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. GlobalFoundries Inc. has a 12-month low of $35.85 and a 12-month high of $61.98. The stock’s 50-day moving average price is $42.63 and its 200-day moving average price is $42.49.

GlobalFoundries Profile

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.