GlobalFoundries Inc. (NASDAQ:GFS – Get Free Report) insider Michael James Hogan sold 2,800 shares of GlobalFoundries stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $83.53, for a total transaction of $233,884.00. Following the transaction, the insider directly owned 3,745 shares in the company, valued at approximately $312,819.85. The trade was a 42.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael James Hogan also recently made the following trade(s):
- On Wednesday, June 10th, Michael James Hogan sold 2,800 shares of GlobalFoundries stock. The stock was sold at an average price of $75.17, for a total value of $210,476.00.
- On Wednesday, May 27th, Michael James Hogan sold 2,800 shares of GlobalFoundries stock. The shares were sold at an average price of $82.88, for a total value of $232,064.00.
- On Tuesday, May 5th, Michael James Hogan sold 500 shares of GlobalFoundries stock. The shares were sold at an average price of $70.00, for a total value of $35,000.00.
- On Wednesday, April 29th, Michael James Hogan sold 2,300 shares of GlobalFoundries stock. The stock was sold at an average price of $60.69, for a total value of $139,587.00.
- On Monday, April 20th, Michael James Hogan sold 500 shares of GlobalFoundries stock. The stock was sold at an average price of $60.00, for a total value of $30,000.00.
- On Wednesday, April 15th, Michael James Hogan sold 1,800 shares of GlobalFoundries stock. The shares were sold at an average price of $48.31, for a total value of $86,958.00.
- On Wednesday, April 1st, Michael James Hogan sold 1,800 shares of GlobalFoundries stock. The stock was sold at an average price of $45.04, for a total transaction of $81,072.00.
GlobalFoundries Stock Down 8.2%
Shares of GFS stock traded down $7.04 during mid-day trading on Friday, hitting $79.08. 1,752,486 shares of the stock traded hands, compared to its average volume of 4,402,427. GlobalFoundries Inc. has a 52-week low of $31.51 and a 52-week high of $92.55. The stock has a market cap of $43.39 billion, a P/E ratio of 56.83, a P/E/G ratio of 2.96 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.59 and a quick ratio of 1.87. The stock’s fifty day moving average is $74.19 and its two-hundred day moving average is $53.91.
GlobalFoundries Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. GlobalFoundries’s dividend payout ratio is presently 34.53%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of GFS. WealthCollab LLC lifted its holdings in shares of GlobalFoundries by 674.7% during the fourth quarter. WealthCollab LLC now owns 705 shares of the company’s stock worth $25,000 after purchasing an additional 614 shares during the period. True Wealth Design LLC increased its holdings in GlobalFoundries by 216.7% in the 4th quarter. True Wealth Design LLC now owns 795 shares of the company’s stock worth $28,000 after buying an additional 544 shares during the period. Clearstead Advisors LLC raised its position in GlobalFoundries by 91.9% during the 3rd quarter. Clearstead Advisors LLC now owns 808 shares of the company’s stock worth $29,000 after buying an additional 387 shares during the last quarter. Covestor Ltd lifted its stake in GlobalFoundries by 57.6% during the 4th quarter. Covestor Ltd now owns 955 shares of the company’s stock valued at $33,000 after acquiring an additional 349 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new stake in GlobalFoundries during the 4th quarter valued at approximately $35,000.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on GFS shares. Evercore restated an “outperform” rating and set a $85.00 target price on shares of GlobalFoundries in a research note on Tuesday, May 19th. Loop Capital set a $80.00 price target on GlobalFoundries in a research note on Monday, May 4th. Morgan Stanley upped their price objective on shares of GlobalFoundries from $58.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Susquehanna increased their price objective on shares of GlobalFoundries to $125.00 and gave the company a “positive” rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $70.00 target price on shares of GlobalFoundries in a research report on Tuesday, May 5th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, GlobalFoundries currently has a consensus rating of “Hold” and an average price target of $73.29.
Get Our Latest Stock Analysis on GFS
GlobalFoundries Company Profile
GlobalFoundries, Inc (NASDAQ: GFS) is a leading contract semiconductor manufacturer that provides wafer fabrication and related services to semiconductor companies and systems manufacturers. The company operates as a pure-play foundry, producing integrated circuits across a range of process technologies for customers in markets such as automotive, communications, consumer electronics, industrial, and aerospace. Its service offering spans process development, manufacturing, test and packaging support, and design enablement including process design kits (PDKs) and intellectual property (IP) libraries to help customers bring designs to production.
GlobalFoundries focuses on a portfolio of differentiated and specialty process nodes, offering technologies for radio-frequency (RF) and wireless, analog and mixed-signal, power management, embedded non-volatile memory, and silicon-on-insulator (SOI) process families.
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