GlobalFoundries Inc. $GFS Shares Sold by Matrix Capital Management Company LP

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 cut its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 51.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,964,952 shares of the company's stock after selling 7,300,000 shares during the period. GlobalFoundries accounts for 74.0% of Matrix Capital Management Company LP's holdings, making the stock its largest position. Matrix Capital Management Company LP owned about 1.26% of GlobalFoundries worth $257,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its position in GlobalFoundries by 26.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company's stock worth $57,000 after acquiring an additional 320 shares during the last quarter. Signaturefd LLC increased its stake in GlobalFoundries by 51.3% in the first quarter. Signaturefd LLC now owns 1,026 shares of the company's stock valued at $38,000 after acquiring an additional 348 shares during the last quarter. Mariner LLC increased its stake in GlobalFoundries by 5.5% in the fourth quarter. Mariner LLC now owns 8,111 shares of the company's stock valued at $348,000 after acquiring an additional 420 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in GlobalFoundries by 2.5% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 28,351 shares of the company's stock valued at $1,218,000 after acquiring an additional 683 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in GlobalFoundries by 2.9% in the first quarter. American Century Companies Inc. now owns 26,703 shares of the company's stock valued at $986,000 after acquiring an additional 754 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup lifted their price objective on shares of GlobalFoundries from $35.00 to $42.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. Wedbush decreased their price objective on shares of GlobalFoundries from $48.00 to $40.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group assumed coverage on shares of GlobalFoundries in a research note on Thursday, July 10th. They issued a "neutral" rating and a $40.00 price objective on the stock. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. Finally, UBS Group decreased their price objective on shares of GlobalFoundries from $43.00 to $37.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $44.92.

GlobalFoundries Price Performance

GlobalFoundries stock opened at $34.49 on Friday. The stock has a 50-day moving average price of $37.46 and a two-hundred day moving average price of $37.38. GlobalFoundries Inc. has a 12 month low of $29.77 and a 12 month high of $47.69. The company has a market capitalization of $19.07 billion, a PE ratio of -164.23, a P/E/G ratio of 1.13 and a beta of 1.50. The company has a current ratio of 2.63, a quick ratio of 1.92 and a debt-to-equity ratio of 0.13.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings results 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 company 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 business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. GlobalFoundries has set its Q3 2025 guidance at 0.330-0.430 EPS. Analysts expect 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.

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