AQR Capital Management LLC increased its stake in GlobalFoundries Inc. (NASDAQ:GFS – Free Report) 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.
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.
Read Our Latest Stock Analysis on GFS
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.
Read More
- Five stocks we like better than GlobalFoundries
- Stock Market Sectors: What Are They and How Many Are There?
- When Is the Best Time to Invest in Mutual Funds?
- CD Calculator: Certificate of Deposit Calculator
- Is NVIDIA Stock in a Correction or Consolidation?
- The Most Important Warren Buffett Stock for Investors: His Own
- 3 Oversold Stocks with Big RSI Rebound Potential
Receive News & Ratings for GlobalFoundries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlobalFoundries and related companies with MarketBeat.com's FREE daily email newsletter.