Victory Capital Management Inc. Has $10.01 Million Stock Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Victory Capital Management Inc. decreased its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 1.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 248,693 shares of the company’s stock after selling 2,517 shares during the period. Victory Capital Management Inc.’s holdings in GlobalFoundries were worth $10,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ghisallo Capital Management LLC lifted its holdings in shares of GlobalFoundries by 200.0% during the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock valued at $15,168,000 after acquiring an additional 200,000 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of GlobalFoundries by 47.3% during the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after acquiring an additional 786 shares during the period. Global X Japan Co. Ltd. lifted its holdings in shares of GlobalFoundries by 52.0% during the second quarter. Global X Japan Co. Ltd. now owns 63,646 shares of the company’s stock valued at $3,218,000 after acquiring an additional 21,765 shares during the period. Versor Investments LP raised its holdings in shares of GlobalFoundries by 167.7% in the third quarter. Versor Investments LP now owns 19,008 shares of the company’s stock valued at $765,000 after buying an additional 11,908 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of GlobalFoundries by 343.7% in the first quarter. Tidal Investments LLC now owns 94,320 shares of the company’s stock valued at $4,915,000 after buying an additional 73,060 shares during the last quarter.

GlobalFoundries Stock Performance

Shares of GFS opened at $42.00 on Friday. The firm has a market cap of $23.17 billion, a PE ratio of 31.09, a PEG ratio of 10.35 and a beta of 1.53. The stock’s fifty day moving average price is $40.35 and its two-hundred day moving average price is $46.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $62.61.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.08. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share. On average, equities research analysts forecast that GlobalFoundries Inc. will post 1.22 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GFS shares. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a report on Wednesday, November 6th. Robert W. Baird cut their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. Morgan Stanley lowered GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Finally, UBS Group assumed coverage on GlobalFoundries in a research report on Wednesday. They issued a “neutral” rating and a $47.00 price objective for the company. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.21.

GlobalFoundries Company 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.