GlobalFoundries Inc. (NASDAQ:GFS) is Matrix Capital Management Company LP’s 2nd Largest Position

Matrix Capital Management Company LP decreased its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,264,952 shares of the company’s stock after selling 2,250,000 shares during the period. GlobalFoundries comprises approximately 28.5% of Matrix Capital Management Company LP’s investment portfolio, making the stock its 2nd largest holding. Matrix Capital Management Company LP owned approximately 2.59% of GlobalFoundries worth $612,109,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GFS. Signaturefd LLC increased its stake in GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after buying an additional 411 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of GlobalFoundries by 206.4% in the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after acquiring an additional 745 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of GlobalFoundries during the fourth quarter worth approximately $52,000. Graney & King LLC acquired a new position in GlobalFoundries in the 4th quarter valued at $68,000. Finally, Covestor Ltd lifted its holdings in GlobalFoundries by 309.8% in the 4th quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $72,000 after purchasing an additional 1,270 shares in the last quarter.

GlobalFoundries Stock Performance

NASDAQ:GFS opened at $33.33 on Monday. The company has a market cap of $18.43 billion, a price-to-earnings ratio of -69.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The company has a fifty day simple moving average of $38.39 and a two-hundred day simple moving average of $40.68.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, equities analysts anticipate that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Wednesday, February 12th. UBS Group cut their target price on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Morgan Stanley boosted their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Citigroup cut their price objective on shares of GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.29.

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.