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 dated Thursday, November 12th. The shares were sold at an average price of $41.86, for a total transaction of $14,023.10. Following the completion of the transaction, the insider owned 6,784 shares in the company, valued at approximately $283,978.24. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GlobalFoundries Trading Down 2.7%

Shares of GlobalFoundries stock traded down $1.15 during mid-day trading on Friday, hitting $41.47. 2,780,537 shares of the stock were exchanged, compared to its average volume of 5,657,166. The stock has a market capitalization of $22.75 billion, a price-to-earnings ratio of 118.49, a price-to-earnings-growth ratio of 1.37 and a beta of 1.78. GlobalFoundries Inc. has a twelve month low of $32.02 and a twelve month high of $92.55. The company has a current ratio of 2.58, a quick ratio of 1.87 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $45.56 and a 200 day simple moving average of $54.79.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. GlobalFoundries had a net margin of 2.81% and a return on equity of 7.16%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 earnings per share. Research analysts forecast that GlobalFoundries Inc. will post 1.55 EPS for the current year.

GlobalFoundries Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on GFS shares. Morgan Stanley cut their price target on GlobalFoundries from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Monday, November 2nd. BNP Paribas Exane lowered GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research note on Monday, October 5th. JPMorgan Chase & Co. decreased their price objective on GlobalFoundries from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, November 5th. Robert W. Baird set a $140.00 price objective on GlobalFoundries in a research report on Thursday, August 6th. Finally, Deutsche Bank set a $75.00 price objective on GlobalFoundries in a research report on Monday, August 10th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.79.

Institutional Investors Weigh In On GlobalFoundries

Several hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in GlobalFoundries during the third quarter worth approximately $30,000. Parallel Advisors LLC boosted its holdings in shares of GlobalFoundries by 39.8% in the 1st quarter. Parallel Advisors LLC now owns 832 shares of the company’s stock valued at $37,000 after purchasing an additional 237 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of GlobalFoundries in the 2nd quarter valued at $60,000. Signaturefd LLC grew its stake in shares of GlobalFoundries by 22.3% during the 3rd quarter. Signaturefd LLC now owns 1,370 shares of the company’s stock valued at $66,000 after buying an additional 250 shares during the period. Finally, Western Wealth Management LLC purchased a new stake in shares of GlobalFoundries during the 1st quarter valued at $68,000.

About GlobalFoundries

GlobalFoundries is a semiconductor foundry that manufactures integrated circuits for customers that design their own chips. Its services include wafer fabrication, process technology development, packaging support and design enablement, helping customers bring semiconductor products to market without operating their own fabrication facilities. The company focuses on specialty technologies used in areas such as automotive electronics, communications, industrial systems, smart devices and data centers.