GlobalFoundries Inc. (NASDAQ:GFS) Stock Holdings Increased by Quantbot Technologies LP

Quantbot Technologies LP lifted its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 89.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,762 shares of the company’s stock after purchasing an additional 34,731 shares during the quarter. Quantbot Technologies LP’s holdings in GlobalFoundries were worth $2,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Ghisallo Capital Management LLC lifted its position in shares of GlobalFoundries by 200.0% in the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock worth $15,168,000 after purchasing an additional 200,000 shares in the last quarter. Lazard Asset Management LLC increased its holdings in GlobalFoundries by 47.3% in the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock worth $127,000 after buying an additional 786 shares during the last quarter. Global X Japan Co. Ltd. increased its holdings in GlobalFoundries by 52.0% in the second quarter. Global X Japan Co. Ltd. now owns 63,646 shares of the company’s stock worth $3,218,000 after buying an additional 21,765 shares during the last quarter. Versor Investments LP increased its holdings in GlobalFoundries by 167.7% in the third quarter. Versor Investments LP now owns 19,008 shares of the company’s stock worth $765,000 after buying an additional 11,908 shares during the last quarter. Finally, Renaissance Capital LLC increased its holdings in GlobalFoundries by 20.0% in the third quarter. Renaissance Capital LLC now owns 106,047 shares of the company’s stock worth $4,268,000 after buying an additional 17,707 shares during the last quarter.

Analysts Set New Price Targets

GFS has been the topic of a number of research reports. TD Cowen dropped their price objective on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird dropped their price objective on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Wedbush restated an “outperform” rating and issued a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $40.00 price objective on shares of GlobalFoundries in a report on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.21.

GlobalFoundries Trading Down 2.9 %

Shares of GlobalFoundries stock opened at $42.85 on Thursday. The company’s fifty day simple moving average is $40.67 and its 200-day simple moving average is $45.91. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 10.98 and a beta of 1.53. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $62.61.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. GlobalFoundries’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. As a group, sell-side analysts expect that GlobalFoundries Inc. will post 1.22 EPS for the current year.

About GlobalFoundries

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.