GlobalFoundries (NASDAQ:GFS) Stock: Insider Samak Azar Sells 335 Shares

GlobalFoundries Inc. (NASDAQ:GFS) insider Samak Azar sold 335 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $38.82, for a total value of $13,004.70. Following the completion of the transaction, the insider owned 7,119 shares of the company’s stock, valued at $276,359.58. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GlobalFoundries Price Performance

Shares of GlobalFoundries stock traded up $2.26 on Friday, hitting $38.62. 5,023,286 shares of the company traded hands, compared to its average volume of 4,480,622. The stock has a market capitalization of $21.19 billion, a P/E ratio of 110.34, a price-to-earnings-growth ratio of 1.28 and a beta of 1.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 2.48. GlobalFoundries Inc. has a 52 week low of $32.02 and a 52 week high of $92.55. The business has a 50-day simple moving average of $45.99 and a 200 day simple moving average of $54.90.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. GlobalFoundries had a net margin of 2.81% and a return on equity of 7.18%. GlobalFoundries’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company posted $0.44 earnings per share. Research analysts expect that GlobalFoundries Inc. will post 1.48 earnings per share for the current fiscal year.

GlobalFoundries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Tuesday, December 22nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 22nd. GlobalFoundries’s dividend payout ratio is 137.14%.

Institutional Trading of GlobalFoundries

Several hedge funds have recently made changes to their positions in GFS. Sei Investments Co. lifted its holdings in shares of GlobalFoundries by 239.0% in the 1st quarter. Sei Investments Co. now owns 48,246 shares of the company’s stock valued at $2,146,000 after acquiring an additional 34,014 shares during the last quarter. Bank of America Corp DE increased its stake in GlobalFoundries by 106.1% during the first quarter. Bank of America Corp DE now owns 875,361 shares of the company’s stock worth $38,936,000 after acquiring an additional 450,722 shares during the last quarter. First Trust Advisors LP increased its stake in GlobalFoundries by 97.4% during the first quarter. First Trust Advisors LP now owns 264,837 shares of the company’s stock worth $11,780,000 after acquiring an additional 130,643 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in GlobalFoundries during the second quarter worth approximately $3,067,000. Finally, Janus Henderson Group PLC purchased a new stake in GlobalFoundries during the first quarter valued at approximately $1,108,000.

Key Stories Impacting GlobalFoundries

Here are the key news stories impacting GlobalFoundries this week:

• Positive Sentiment: A Seeking Alpha article highlights improving margins and commitments that could support future growth. Another report points to a record third-quarter margin, suggesting operational progress. Margins Improve As GlobalFoundries Secures Commitments For Future Growth GlobalFoundries stock: Company posts record Q3 margin
• Positive Sentiment: TD Cowen cut its target to $60 from $75 but kept a Buy rating, while Susquehanna lowered its target to $110 from $125 and retained a positive rating. TD Cowen price-target update Susquehanna price-target update
• Neutral Sentiment: UBS, JPMorgan, and Citi lowered their targets to $43, $50, and $46, respectively, and maintained Neutral ratings. Their targets still imply potential upside from the cited $38.62 share price, but the cuts signal reduced expectations. UBS rating update JPMorgan rating update Citi rating update
• Negative Sentiment: Wedbush made a particularly steep reduction, cutting its target to $45 from $72 and citing a lower valuation multiple. The broader wave of target cuts—including reductions from Citi, JPMorgan, UBS, and TD Cowen—could reinforce concerns about GFS’s near-term valuation and outlook. Wedbush cuts GlobalFoundries price target

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GFS shares. JPMorgan Chase & Co. reduced their target price on GlobalFoundries from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday. Stifel Nicolaus began coverage on GlobalFoundries in a research note on Tuesday, September 1st. They set a “buy” rating and a $60.00 price target for the company. Susquehanna cut their price target on GlobalFoundries from $125.00 to $110.00 and set a “positive” rating for the company in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of GlobalFoundries in a research note on Thursday, October 15th. Finally, BNP Paribas Exane cut GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a report on Monday, October 5th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.79.

About GlobalFoundries

GlobalFoundries Inc (NASDAQ:GFS) is a semiconductor manufacturer that operates as a contract foundry, producing chips designed by other companies. The company provides wafer fabrication and related services for customers in the automotive, communications infrastructure, aerospace and defense, industrial, and consumer electronics markets.

GlobalFoundries specializes in differentiated semiconductor technologies rather than competing primarily in the most advanced logic-processing nodes. Its offerings include radio-frequency and silicon-on-insulator technologies, embedded memory, power-management solutions, high-voltage processes, silicon photonics, and other specialty platforms used in connectivity, sensing, automotive electronics, and edge-computing applications.

The company was established in 2009 through the separation of Advanced Micro Devices’ manufacturing operations, with investment from the Abu Dhabi-based Advanced Technology Investment Company.