GlobalFoundries (NASDAQ:GFS) Reaches New 12-Month High – Here’s What Happened

GlobalFoundries Inc. (NASDAQ:GFS)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.48 and last traded at $77.5260, with a volume of 737281 shares changing hands. The stock had previously closed at $70.79.

Analysts Set New Price Targets

GFS has been the subject of a number of research analyst reports. Cantor Fitzgerald raised GlobalFoundries from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $50.00 to $80.00 in a report on Monday, May 4th. Robert W. Baird set a $100.00 price target on GlobalFoundries in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on GlobalFoundries from $45.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. UBS Group lifted their price target on GlobalFoundries from $65.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Susquehanna lifted their price target on GlobalFoundries to $125.00 and gave the company a “positive” rating in a report on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $69.88.

GlobalFoundries Price Performance

The stock has a market capitalization of $43.94 billion, a P/E ratio of 56.96, a PEG ratio of 2.36 and a beta of 1.71. 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 fifty day simple moving average of $54.57 and a two-hundred day simple moving average of $45.21.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. GlobalFoundries had a return on equity of 6.85% and a net margin of 11.40%.The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. GlobalFoundries has set its Q2 2026 guidance at 0.250-0.350 EPS. Sell-side analysts expect that GlobalFoundries Inc. will post 1.38 EPS for the current fiscal year.

GlobalFoundries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, June 24th.

Insiders Place Their Bets

In other GlobalFoundries news, insider Samak L. Azar sold 500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $74.82, for a total transaction of $37,410.00. Following the completion of the sale, the insider directly owned 15,494 shares of the company’s stock, valued at approximately $1,159,261.08. The trade was a 3.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael James Hogan sold 500 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $70.00, for a total value of $35,000.00. Following the sale, the insider directly owned 15,395 shares of the company’s stock, valued at $1,077,650. This represents a 3.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 16,700 shares of company stock valued at $909,572.

Institutional Trading of GlobalFoundries

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rafferty Asset Management LLC grew its position in shares of GlobalFoundries by 18.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 372,122 shares of the company’s stock valued at $13,337,000 after purchasing an additional 57,774 shares during the period. Allianz Asset Management GmbH acquired a new position in shares of GlobalFoundries in the 3rd quarter valued at approximately $3,308,000. First Trust Advisors LP grew its position in shares of GlobalFoundries by 15.2% in the 3rd quarter. First Trust Advisors LP now owns 2,659,454 shares of the company’s stock valued at $95,315,000 after purchasing an additional 350,743 shares during the period. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of GlobalFoundries in the 3rd quarter valued at approximately $4,769,000. Finally, NEOS Investment Management LLC grew its position in shares of GlobalFoundries by 81.4% in the 3rd quarter. NEOS Investment Management LLC now owns 184,765 shares of the company’s stock valued at $6,622,000 after purchasing an additional 82,890 shares during the period.

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.