Matrix Capital Management Company LP Has $664.73 Million Stock Position in GlobalFoundries Inc. (NASDAQ:GFS)

Matrix Capital Management Company LP decreased its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 2.4% during the 3rd quarter, Holdings Channel reports. The fund owned 16,514,952 shares of the company’s stock after selling 400,000 shares during the quarter. GlobalFoundries accounts for about 31.7% of Matrix Capital Management Company LP’s investment portfolio, making the stock its 2nd biggest holding. Matrix Capital Management Company LP’s holdings in GlobalFoundries were worth $664,727,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its position in shares of GlobalFoundries by 2.4% in the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after purchasing an additional 1,160,403 shares during the period. Marshall Wace LLP boosted its holdings in shares of GlobalFoundries by 108.6% in the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock valued at $126,242,000 after buying an additional 1,299,687 shares during the period. Dimensional Fund Advisors LP increased its position in shares of GlobalFoundries by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock worth $33,063,000 after acquiring an additional 77,581 shares in the last quarter. Citigroup Inc. lifted its position in GlobalFoundries by 16.0% in the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock valued at $25,287,000 after acquiring an additional 86,740 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in GlobalFoundries by 267.7% in the 2nd quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock valued at $17,901,000 after acquiring an additional 257,749 shares in the last quarter.

GlobalFoundries Stock Down 1.1 %

GFS stock opened at $44.63 on Wednesday. The firm has a 50-day moving average price of $41.09 and a 200-day moving average price of $45.55. GlobalFoundries Inc. has a 12 month low of $35.85 and a 12 month 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. The stock has a market capitalization of $24.63 billion, a P/E ratio of 33.31, a price-to-earnings-growth ratio of 11.02 and a beta of 1.59.

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

Analyst Ratings Changes

GFS has been the topic of several recent research reports. Robert W. Baird dropped their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI reduced their price target on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. UBS Group began coverage on shares of GlobalFoundries in a report on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 price objective on the stock. Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Finally, TD Cowen cut their price target on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, GlobalFoundries currently has a consensus rating of “Hold” and an average price target 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.