Ghisallo Capital Management LLC Has $15.17 Million Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Ghisallo Capital Management LLC boosted its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 200.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 300,000 shares of the company’s stock after purchasing an additional 200,000 shares during the quarter. GlobalFoundries comprises approximately 1.0% of Ghisallo Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Ghisallo Capital Management LLC owned about 0.05% of GlobalFoundries worth $15,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GFS. The Manufacturers Life Insurance Company increased its holdings in GlobalFoundries by 9.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 206,183 shares of the company’s stock worth $12,495,000 after purchasing an additional 17,860 shares in the last quarter. Hsbc Holdings PLC lifted its stake in GlobalFoundries by 302.9% during the 4th quarter. Hsbc Holdings PLC now owns 37,369 shares of the company’s stock valued at $2,260,000 after acquiring an additional 28,095 shares in the last quarter. Mubadala Investment Co PJSC purchased a new position in GlobalFoundries during the 4th quarter worth $28,451,821,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of GlobalFoundries by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock worth $59,018,000 after acquiring an additional 68,626 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of GlobalFoundries by 47.3% in the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after purchasing an additional 786 shares during the last quarter.

GlobalFoundries Price Performance

Shares of GlobalFoundries stock opened at $38.56 on Wednesday. The stock has a market capitalization of $21.28 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 6.36 and a beta of 1.54. GlobalFoundries Inc. has a one year low of $38.45 and a one year high of $62.61. 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 business’s 50 day simple moving average is $44.10 and its two-hundred day simple moving average is $48.55.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The firm’s revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. Analysts forecast that GlobalFoundries Inc. will post 1.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GFS. Wedbush reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of GlobalFoundries in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, August 7th. TD Cowen lowered their target price on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI decreased their price target on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on GlobalFoundries from $60.00 to $55.00 and set a “buy” 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.com, the stock has a consensus rating of “Moderate Buy” and an average 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.