Holocene Advisors LP Has $7.95 Million Stock Position in GlobalFoundries Inc. (NASDAQ:GFS)

Holocene Advisors LP grew its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 28.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,546 shares of the company's stock after buying an additional 44,197 shares during the quarter. Holocene Advisors LP's holdings in GlobalFoundries were worth $7,951,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ghisallo Capital Management LLC lifted its stake in GlobalFoundries by 200.0% during the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company's stock worth $15,168,000 after purchasing an additional 200,000 shares during the last quarter. Quantbot Technologies LP lifted its stake in GlobalFoundries by 89.0% during the third quarter. Quantbot Technologies LP now owns 73,762 shares of the company's stock worth $2,969,000 after purchasing an additional 34,731 shares during the last quarter. Global X Japan Co. Ltd. lifted its stake in GlobalFoundries by 52.0% during the second quarter. Global X Japan Co. Ltd. now owns 63,646 shares of the company's stock worth $3,218,000 after purchasing an additional 21,765 shares during the last quarter. Versor Investments LP lifted its stake in GlobalFoundries by 167.7% during the third quarter. Versor Investments LP now owns 19,008 shares of the company's stock worth $765,000 after purchasing an additional 11,908 shares during the last quarter. Finally, Renaissance Capital LLC lifted its stake in GlobalFoundries by 20.0% during the third quarter. Renaissance Capital LLC now owns 106,047 shares of the company's stock worth $4,268,000 after purchasing an additional 17,707 shares during the last quarter.

GlobalFoundries Price Performance

NASDAQ:GFS traded down $0.25 during mid-day trading on Wednesday, reaching $44.38. 1,236,522 shares of the stock were exchanged, compared to its average volume of 1,625,028. The business has a fifty day moving average price of $41.19 and a 200 day moving average price of $45.54. The firm has a market capitalization of $24.49 billion, a PE ratio of 33.12, a PEG ratio of 11.02 and a beta of 1.59. GlobalFoundries Inc. has a 1-year low of $35.85 and a 1-year high of $62.61. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. GlobalFoundries's revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. Research analysts expect that GlobalFoundries Inc. will post 1.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GFS has been the topic of several research analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $40.00 price objective on shares of GlobalFoundries in a research note on Wednesday, November 6th. Susquehanna dropped their target price on GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their target price on GlobalFoundries from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. UBS Group assumed coverage on GlobalFoundries in a research report on Wednesday, November 20th. They issued a "neutral" rating and a $47.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, GlobalFoundries presently has an average rating of "Hold" and a consensus target price of $50.21.

About GlobalFoundries

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.