GlobalFoundries Inc. (NASDAQ:GFS) Stock Position Trimmed by Matrix Capital Management Company LP

Matrix Capital Management Company LP lessened its position in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,264,952 shares of the company's stock after selling 2,250,000 shares during the period. GlobalFoundries makes up about 28.5% of Matrix Capital Management Company LP's portfolio, making the stock its 2nd largest holding. Matrix Capital Management Company LP owned approximately 2.59% of GlobalFoundries worth $612,109,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GFS. FMR LLC boosted its position in GlobalFoundries by 7.5% in the fourth quarter. FMR LLC now owns 53,096,556 shares of the company's stock valued at $2,278,373,000 after buying an additional 3,721,153 shares in the last quarter. Invesco Ltd. grew its position in GlobalFoundries by 10.5% during the 4th quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock worth $100,058,000 after acquiring an additional 221,731 shares during the last quarter. State Street Corp raised its position in GlobalFoundries by 8.3% in the third quarter. State Street Corp now owns 1,275,554 shares of the company's stock valued at $51,341,000 after purchasing an additional 98,084 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of GlobalFoundries by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock worth $39,176,000 after purchasing an additional 16,921 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of GlobalFoundries by 64.2% in the fourth quarter. Barclays PLC now owns 511,668 shares of the company's stock valued at $21,956,000 after buying an additional 200,059 shares during the period.

Analyst Ratings Changes

Several brokerages have issued reports on GFS. UBS Group decreased their price target on shares of GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Citigroup decreased their price target on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wedbush reaffirmed an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. Finally, Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.85.

GlobalFoundries Stock Up 0.3 %

GFS stock traded up $0.08 during trading on Friday, reaching $31.70. 1,605,556 shares of the stock were exchanged, compared to its average volume of 1,852,317. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a twelve month low of $29.77 and a twelve month high of $61.98. The firm's 50 day moving average is $37.72 and its 200 day moving average is $40.41. The firm has a market cap of $17.53 billion, a P/E ratio of -66.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current year.

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.