Maytus Capital Management LLC Has $5.49 Million Stock Position in GlobalFoundries Inc. (NASDAQ:GFS)

Maytus Capital Management LLC lifted its stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 50.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,000 shares of the company's stock after purchasing an additional 43,000 shares during the period. GlobalFoundries accounts for 1.9% of Maytus Capital Management LLC's portfolio, making the stock its 25th largest position. Maytus Capital Management LLC's holdings in GlobalFoundries were worth $5,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in GlobalFoundries during the fourth quarter valued at approximately $52,000. SG Americas Securities LLC bought a new stake in shares of GlobalFoundries in the 4th quarter valued at $1,748,000. US Bancorp DE raised its stake in GlobalFoundries by 187.2% during the 4th quarter. US Bancorp DE now owns 3,498 shares of the company's stock worth $150,000 after buying an additional 2,280 shares during the period. Geode Capital Management LLC raised its stake in GlobalFoundries by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock worth $39,176,000 after buying an additional 16,921 shares during the period. Finally, Polianta Ltd bought a new position in GlobalFoundries during the fourth quarter worth about $1,317,000.

Wall Street Analysts Forecast Growth

GFS has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. UBS Group dropped their price target on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Citigroup decreased their price objective on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wedbush reaffirmed an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reiterated a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $48.33.

GlobalFoundries Stock Up 7.3%

Shares of GFS opened at $39.02 on Tuesday. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The firm's 50-day simple moving average is $35.65 and its 200 day simple moving average is $39.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. The firm has a market cap of $21.57 billion, a P/E ratio of -81.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. GlobalFoundries's revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. On average, analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share 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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