Matrix Capital Management Company LP Sells 7,300,000 Shares of GlobalFoundries Inc. $GFS

Key Points

• Matrix Capital Management Company LP reduced its stake in GlobalFoundries by 51.2%, owning approximately 1.26% of the company after selling 7.3 million shares in the first quarter.
• Research analysts show mixed sentiment, with Citigroup raising their price target to $42.00 while others like Wedbush lowered theirs to $40.00, reflecting a cautious outlook on the stock.
• GlobalFoundries reported earnings of $0.42 per share for the last quarter, exceeding expectations and indicating a 3.4% revenue increase year-over-year.

Matrix Capital Management Company LP reduced its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 51.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,964,952 shares of the company's stock after selling 7,300,000 shares during the quarter. GlobalFoundries makes up 74.0% of Matrix Capital Management Company LP's portfolio, making the stock its largest holding. Matrix Capital Management Company LP owned approximately 1.26% of GlobalFoundries worth $257,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. increased its position in GlobalFoundries by 6.9% in the first quarter. Invesco Ltd. now owns 2,491,747 shares of the company's stock worth $91,970,000 after purchasing an additional 159,936 shares during the period. ArrowMark Colorado Holdings LLC increased its position in GlobalFoundries by 5.7% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company's stock worth $106,124,000 after purchasing an additional 132,634 shares during the period. Pacer Advisors Inc. grew its position in shares of GlobalFoundries by 8,540.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,472,634 shares of the company's stock worth $91,265,000 after buying an additional 2,444,018 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of GlobalFoundries by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 907,446 shares of the company's stock valued at $33,476,000 after acquiring an additional 79,670 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of GlobalFoundries by 42.4% in the 4th quarter. Deutsche Bank AG now owns 659,647 shares of the company's stock valued at $28,305,000 after acquiring an additional 196,290 shares during the last quarter.

GlobalFoundries Stock Down 0.6%

NASDAQ:GFS traded down $0.22 during trading hours on Friday, reaching $33.36. 798,164 shares of the stock were exchanged, compared to its average volume of 2,093,381. GlobalFoundries Inc. has a twelve month low of $29.77 and a twelve month high of $47.69. The firm has a 50 day moving average of $37.21 and a 200 day moving average of $37.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.92. The stock has a market cap of $18.45 billion, a PE ratio of -158.90, a PEG ratio of 1.11 and a beta of 1.50.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.68 billion. GlobalFoundries had a positive return on equity of 6.55% and a negative net margin of 1.68%.The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. GlobalFoundries has set its Q3 2025 guidance at 0.330-0.430 EPS. On average, equities analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GFS. Wall Street Zen cut GlobalFoundries from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. UBS Group lowered their price target on GlobalFoundries from $43.00 to $37.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Arete raised GlobalFoundries from a "sell" rating to a "neutral" rating and set a $37.00 price target for the company in a research note on Wednesday. Finally, Argus began coverage on GlobalFoundries in a research note on Tuesday, July 1st. They issued a "buy" rating and a $52.00 price target for the company. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $43.79.

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.