Mirae Asset Global Investments Co. Ltd. Makes New Investment in GlobalFoundries Inc. $GFS

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 850,896 shares of the company’s stock, valued at approximately $40,775,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in GlobalFoundries by 8.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,954 shares of the company’s stock valued at $87,000 after purchasing an additional 154 shares during the last quarter. Parallel Advisors LLC lifted its holdings in GlobalFoundries by 39.8% in the 1st quarter. Parallel Advisors LLC now owns 832 shares of the company’s stock valued at $37,000 after purchasing an additional 237 shares in the last quarter. Signaturefd LLC boosted its stake in shares of GlobalFoundries by 22.3% during the 3rd quarter. Signaturefd LLC now owns 1,370 shares of the company’s stock worth $66,000 after purchasing an additional 250 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of GlobalFoundries by 5.3% during the 1st quarter. California State Teachers Retirement System now owns 6,735 shares of the company’s stock worth $300,000 after purchasing an additional 340 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of GlobalFoundries by 7.0% during the 2nd quarter. HB Wealth Management LLC now owns 5,472 shares of the company’s stock worth $451,000 after purchasing an additional 358 shares during the last quarter.

Wall Street Analysts Forecast Growth

GFS has been the subject of a number of recent research reports. Wedbush reiterated a “neutral” rating and set a $72.00 price target on shares of GlobalFoundries in a report on Thursday, October 15th. Zacks Research downgraded shares of GlobalFoundries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. UBS Group decreased their target price on shares of GlobalFoundries from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of GlobalFoundries in a research report on Wednesday, August 26th. Finally, BNP Paribas Exane downgraded GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 price target for the company. in a report on Monday, October 5th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.79.

GlobalFoundries Price Performance

GFS stock opened at $41.90 on Monday. The company has a market cap of $22.99 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 1.33 and a beta of 1.78. The company has a current ratio of 2.48, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $46.48 and a two-hundred day moving average price of $54.92. GlobalFoundries Inc. has a 12-month low of $32.02 and a 12-month high of $92.55.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. GlobalFoundries had a return on equity of 6.69% and a net margin of 10.36%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. GlobalFoundries has set its Q3 2026 guidance at 0.460-0.560 EPS. As a group, research analysts predict that GlobalFoundries Inc. will post 1.48 EPS for the current year.

Insider Activity

In related news, insider Pradheepa Raman sold 2,145 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $48.83, for a total transaction of $104,740.35. Following the completion of the sale, the insider owned 2,145 shares of the company’s stock, valued at approximately $104,740.35. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 12,925 shares of company stock worth $637,054.

GlobalFoundries Profile

GlobalFoundries Inc (NASDAQ:GFS) is a semiconductor manufacturer that operates as a contract foundry, producing chips designed by other companies. The company provides wafer fabrication and related services for customers in the automotive, communications infrastructure, aerospace and defense, industrial, and consumer electronics markets.

GlobalFoundries specializes in differentiated semiconductor technologies rather than competing primarily in the most advanced logic-processing nodes. Its offerings include radio-frequency and silicon-on-insulator technologies, embedded memory, power-management solutions, high-voltage processes, silicon photonics, and other specialty platforms used in connectivity, sensing, automotive electronics, and edge-computing applications.

The company was established in 2009 through the separation of Advanced Micro Devices’ manufacturing operations, with investment from the Abu Dhabi-based Advanced Technology Investment Company.