Versor Investments LP Invests $290,000 in GlobalFoundries Inc. $GFS

Versor Investments LP bought a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 7,600 shares of the company’s stock, valued at approximately $290,000.

Several other institutional investors have also bought and sold shares of GFS. Signaturefd LLC raised its stake in GlobalFoundries by 51.3% during the first quarter. Signaturefd LLC now owns 1,026 shares of the company’s stock worth $38,000 after acquiring an additional 348 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of GlobalFoundries by 26.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company’s stock valued at $57,000 after purchasing an additional 320 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of GlobalFoundries in the 1st quarter worth about $102,000. Denali Advisors LLC increased its position in shares of GlobalFoundries by 15.4% during the 1st quarter. Denali Advisors LLC now owns 9,827 shares of the company’s stock worth $363,000 after purchasing an additional 1,311 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of GlobalFoundries by 8,540.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,472,634 shares of the company’s stock worth $91,265,000 after purchasing an additional 2,444,018 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GFS shares. Arete Research set a $37.00 price target on shares of GlobalFoundries in a research report on Wednesday, August 27th. Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 target price on shares of GlobalFoundries in a research note on Monday, October 27th. The Goldman Sachs Group assumed coverage on GlobalFoundries in a research report on Thursday, July 10th. They set a “neutral” rating and a $40.00 price target on the stock. Arete raised GlobalFoundries from a “sell” rating to a “neutral” rating and set a $37.00 price target for the company in a report on Wednesday, August 27th. Finally, Bank of America downgraded GlobalFoundries from a “neutral” rating to an “underperform” rating and set a $35.00 price objective for the company. in a research report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.67.

GlobalFoundries Price Performance

GFS opened at $34.42 on Friday. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $47.69. 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 company’s 50 day simple moving average is $34.22 and its 200-day simple moving average is $36.03. The stock 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.

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

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.