Versor Investments LP Invests $359,000 in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Versor Investments LP acquired a new stake in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,100 shares of the company’s stock, valued at approximately $359,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mubadala Investment Co PJSC purchased a new position in GLOBALFOUNDRIES in the fourth quarter worth about $28,451,821,000. First Trust Advisors LP grew its position in GLOBALFOUNDRIES by 9.9% during the fourth quarter. First Trust Advisors LP now owns 2,240,096 shares of the company’s stock valued at $135,750,000 after buying an additional 201,611 shares during the period. Kodai Capital Management LP bought a new stake in GLOBALFOUNDRIES during the fourth quarter valued at approximately $67,351,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in GLOBALFOUNDRIES by 7.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock valued at $59,018,000 after buying an additional 68,626 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in GLOBALFOUNDRIES by 25.9% in the first quarter. ProShare Advisors LLC now owns 544,325 shares of the company’s stock worth $28,365,000 after acquiring an additional 112,149 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently commented on GFS shares. Wedbush restated an “outperform” rating and issued a $65.00 price objective on shares of GLOBALFOUNDRIES in a research note on Wednesday, August 7th. TD Cowen reduced 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. Jefferies Financial Group began coverage on GLOBALFOUNDRIES in a research report on Monday, May 13th. They set a “buy” rating and a $62.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, August 7th. Finally, Evercore ISI lowered their price target on shares of GLOBALFOUNDRIES from $77.00 to $71.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, GLOBALFOUNDRIES has a consensus rating of “Moderate Buy” and a consensus price target of $57.54.

GLOBALFOUNDRIES Stock Performance

GFS opened at $41.29 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.59 and a current ratio of 2.22. The stock has a market capitalization of $22.78 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 7.54 and a beta of 1.56. The company has a fifty day moving average of $48.97 and a 200 day moving average of $50.31. GLOBALFOUNDRIES Inc. has a fifty-two week low of $41.07 and a fifty-two week high of $62.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. GLOBALFOUNDRIES had a return on equity of 7.75% and a net margin of 11.82%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business posted $0.45 earnings per share. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, sell-side analysts forecast that GLOBALFOUNDRIES Inc. will post 1.09 earnings per share for the current fiscal year.

About GLOBALFOUNDRIES

GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units; and offers mainstream wafer fabrication services and technologies.