GlobalFoundries Inc. (NASDAQ:GFS) Holdings Increased by AQR Capital Management LLC

AQR Capital Management LLC increased its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 269.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,820 shares of the company’s stock after acquiring an additional 91,015 shares during the period. AQR Capital Management LLC’s holdings in GlobalFoundries were worth $6,311,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Treasurer of the State of North Carolina boosted its stake in GlobalFoundries by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 34,789 shares of the company’s stock valued at $2,108,000 after purchasing an additional 340 shares in the last quarter. CWM LLC boosted its stake in GlobalFoundries by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after buying an additional 373 shares in the last quarter. Pacer Advisors Inc. grew its holdings in GlobalFoundries by 1.7% during the second quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock worth $1,333,000 after acquiring an additional 444 shares during the period. Royal London Asset Management Ltd. raised its position in GlobalFoundries by 1.3% in the second quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company’s stock worth $1,758,000 after acquiring an additional 450 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in GlobalFoundries by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 45,626 shares of the company’s stock valued at $2,307,000 after acquiring an additional 515 shares during the last quarter.

GlobalFoundries Price Performance

NASDAQ GFS opened at $38.95 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.59. The firm has a market capitalization of $21.49 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 6.36 and a beta of 1.52. The company has a 50 day simple moving average of $43.32 and a 200-day simple moving average of $48.33. GlobalFoundries Inc. has a 52-week low of $38.45 and a 52-week high of $62.61.

GlobalFoundries (NASDAQ:GFS) last released its 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 net margin of 11.82% and a return on equity of 7.75%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. Equities research analysts predict that GlobalFoundries Inc. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. Evercore ISI decreased their price target on shares of GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 price objective on shares of GlobalFoundries in a research report on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of GlobalFoundries in a report on Wednesday, August 7th. Finally, TD Cowen decreased their price target on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, GlobalFoundries currently has an average rating of “Moderate Buy” and a consensus price target of $57.54.

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.