Monashee Investment Management LLC acquired a new stake in GlobalFoundries Inc. (NASDAQ:GFS – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 50,000 shares of the company’s stock, valued at approximately $2,224,000. GlobalFoundries accounts for 1.2% of Monashee Investment Management LLC’s investment portfolio, making the stock its 28th largest holding.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WealthCollab LLC boosted its holdings in GlobalFoundries by 674.7% during the fourth quarter. WealthCollab LLC now owns 705 shares of the company’s stock worth $25,000 after buying an additional 614 shares in the last quarter. True Wealth Design LLC increased its holdings in GlobalFoundries by 216.7% in the fourth quarter. True Wealth Design LLC now owns 795 shares of the company’s stock valued at $28,000 after buying an additional 544 shares in the last quarter. Covestor Ltd increased its holdings in GlobalFoundries by 57.6% in the fourth quarter. Covestor Ltd now owns 955 shares of the company’s stock valued at $33,000 after buying an additional 349 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in GlobalFoundries in the fourth quarter valued at about $35,000. Finally, Strategic Advocates LLC lifted its position in shares of GlobalFoundries by 95.1% during the 4th quarter. Strategic Advocates LLC now owns 1,026 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the period.
GlobalFoundries Stock Performance
NASDAQ:GFS opened at $58.49 on Thursday. The company has a current ratio of 2.59, a quick ratio of 1.87 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $32.09 billion, a P/E ratio of 42.08, a price-to-earnings-growth ratio of 2.10 and a beta of 1.76. The firm has a 50-day moving average price of $75.49 and a two-hundred day moving average price of $57.98. GlobalFoundries Inc. has a twelve month low of $31.51 and a twelve month high of $92.55.
GlobalFoundries Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Wednesday, June 24th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, June 24th. GlobalFoundries’s payout ratio is currently 34.53%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. UBS Group boosted their price target on GlobalFoundries from $65.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Arete Research set a $95.00 price objective on GlobalFoundries in a research note on Wednesday, June 10th. Zacks Research raised GlobalFoundries from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Jefferies Financial Group reiterated a “hold” rating and set a $65.00 target price on shares of GlobalFoundries in a research report on Wednesday, May 6th. Finally, Morgan Stanley boosted their target price on GlobalFoundries from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.62.
Check Out Our Latest Stock Analysis on GlobalFoundries
Insider Activity at GlobalFoundries
In other GlobalFoundries news, insider Michael James Hogan sold 2,800 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $82.88, for a total transaction of $232,064.00. Following the completion of the transaction, the insider owned 9,645 shares of the company’s stock, valued at approximately $799,377.60. This trade represents a 22.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samak L. Azar sold 500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $74.82, for a total value of $37,410.00. Following the transaction, the insider directly owned 15,494 shares of the company’s stock, valued at $1,159,261.08. The trade was a 3.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,080 shares of company stock valued at $1,349,680 over the last 90 days.
GlobalFoundries 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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