Versor Investments LP Buys Shares of 7,600 GlobalFoundries Inc. $GFS

Versor Investments LP purchased a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,600 shares of the company’s stock, valued at approximately $290,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in GlobalFoundries by 8,540.7% in the first quarter. Pacer Advisors Inc. now owns 2,472,634 shares of the company’s stock valued at $91,265,000 after buying an additional 2,444,018 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of GlobalFoundries during the 1st quarter valued at $40,493,000. Woodline Partners LP acquired a new position in shares of GlobalFoundries in the 1st quarter valued at $33,504,000. Nuveen LLC acquired a new position in shares of GlobalFoundries in the 1st quarter valued at $8,525,000. Finally, Invesco Ltd. boosted its position in shares of GlobalFoundries by 6.9% in the 1st quarter. Invesco Ltd. now owns 2,491,747 shares of the company’s stock worth $91,970,000 after purchasing an additional 159,936 shares during the last quarter.

GlobalFoundries Stock Down 3.4%

Shares of GlobalFoundries stock opened at $34.42 on Friday. The company has a market capitalization of $19.03 billion, a P/E ratio of -163.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.92. The business has a 50-day moving average of $34.22 and a two-hundred day moving average of $36.03. GlobalFoundries Inc. has a 1 year low of $29.77 and a 1 year high of $47.69.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. GlobalFoundries had a positive return on equity of 6.55% and a negative net margin of 1.68%.The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the business posted $0.38 EPS. GlobalFoundries’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GFS shares. Arete Research set a $37.00 price objective on GlobalFoundries in a report on Wednesday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of GlobalFoundries in a research report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on GlobalFoundries in a research note on Thursday, July 10th. They issued a “neutral” rating and a $40.00 price target for the company. Wall Street Zen upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating in a research report on Monday, September 15th. Finally, Arete raised shares of GlobalFoundries from a “sell” rating to a “neutral” rating and set a $37.00 price objective on the stock in a research note on Wednesday, August 27th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.67.

GlobalFoundries Company 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.