Total Clarity Wealth Management Inc. Cuts Stake in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Total Clarity Wealth Management Inc. lessened its stake in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,821 shares of the company’s stock after selling 997 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in GLOBALFOUNDRIES were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GFS. Private Advisor Group LLC raised its holdings in GLOBALFOUNDRIES by 29.6% in the fourth quarter. Private Advisor Group LLC now owns 7,931 shares of the company’s stock worth $481,000 after buying an additional 1,811 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in GLOBALFOUNDRIES by 19.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 143,870 shares of the company’s stock worth $8,719,000 after acquiring an additional 23,414 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in GLOBALFOUNDRIES by 124.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 488,048 shares of the company’s stock valued at $29,581,000 after acquiring an additional 270,520 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in GLOBALFOUNDRIES by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,742 shares of the company’s stock valued at $1,810,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in GLOBALFOUNDRIES by 13.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,797 shares of the company’s stock valued at $1,684,000 after purchasing an additional 3,345 shares during the last quarter.

GLOBALFOUNDRIES Stock Down 1.4 %

NASDAQ GFS opened at $39.19 on Tuesday. GLOBALFOUNDRIES Inc. has a 52 week low of $38.49 and a 52 week high of $62.61. The company has a market capitalization of $21.62 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 6.64 and a beta of 1.54. The stock’s 50-day moving average price is $47.20 and its 200-day moving average price is $49.52. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. GLOBALFOUNDRIES had a return on equity of 7.75% and a net margin of 11.82%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business posted $0.45 EPS. GLOBALFOUNDRIES’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, equities research analysts predict that GLOBALFOUNDRIES Inc. will post 1.09 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on GFS shares. TD Cowen dropped their price objective on GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price target on shares of GLOBALFOUNDRIES in a report on Tuesday, July 16th. Evercore ISI decreased their price objective on shares of GLOBALFOUNDRIES from $77.00 to $71.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Wedbush restated an “outperform” rating and issued a $65.00 target price on shares of GLOBALFOUNDRIES in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of GLOBALFOUNDRIES from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, GLOBALFOUNDRIES has an average rating of “Moderate Buy” and an average target price of $57.54.

GLOBALFOUNDRIES 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.