GlobalFoundries Inc. (NASDAQ:GFS – Get Free Report) insider Samak Azar sold 335 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $38.82, for a total transaction of $13,004.70. Following the sale, the insider directly owned 7,119 shares of the company’s stock, valued at approximately $276,359.58. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
GlobalFoundries Stock Up 6.2%
Shares of NASDAQ:GFS traded up $2.26 during mid-day trading on Friday, hitting $38.62. 5,023,286 shares of the company traded hands, compared to its average volume of 5,924,218. The firm’s 50 day simple moving average is $45.84 and its 200 day simple moving average is $54.88. GlobalFoundries Inc. has a 52-week low of $32.02 and a 52-week high of $92.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 2.48. The firm has a market cap of $21.19 billion, a P/E ratio of 110.34, a PEG ratio of 1.33 and a beta of 1.78.
GlobalFoundries (NASDAQ:GFS – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. GlobalFoundries had a net margin of 10.36% and a return on equity of 6.69%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. On average, equities analysts anticipate that GlobalFoundries Inc. will post 1.50 EPS for the current year.
GlobalFoundries Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Tuesday, December 22nd will be given a $0.12 dividend. The ex-dividend date is Tuesday, December 22nd. This represents a $0.48 annualized dividend and a yield of 1.2%. GlobalFoundries’s payout ratio is 137.14%.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price target on GlobalFoundries from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday. Jefferies Financial Group decreased their price objective on GlobalFoundries from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday. UBS Group dropped their target price on GlobalFoundries from $48.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup cut their target price on shares of GlobalFoundries from $58.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Morgan Stanley decreased their price target on GlobalFoundries from $60.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday, November 2nd. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $67.79.
Read Our Latest Research Report on GFS
Institutional Investors Weigh In On GlobalFoundries
Institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in shares of GlobalFoundries in the 3rd quarter valued at $30,000. FNY Investment Advisers LLC bought a new stake in shares of GlobalFoundries in the second quarter worth $60,000. Parallel Advisors LLC lifted its stake in shares of GlobalFoundries by 39.8% in the first quarter. Parallel Advisors LLC now owns 832 shares of the company’s stock worth $37,000 after acquiring an additional 237 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of GlobalFoundries during the first quarter worth $53,000. Finally, Signaturefd LLC raised its position in shares of GlobalFoundries by 22.3% in the 3rd quarter. Signaturefd LLC now owns 1,370 shares of the company’s stock worth $66,000 after acquiring an additional 250 shares in the last quarter.
GlobalFoundries News Roundup
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
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.
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