GlobalFoundries (NASDAQ:GFS) Stock: Insider Samak Azar Sells 335 Shares

GlobalFoundries Inc. (NASDAQ:GFS) insider Samak Azar sold 335 shares of GlobalFoundries stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $38.82, for a total transaction of $13,004.70. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GlobalFoundries Stock Up 6.2%

GlobalFoundries stock opened at $38.62 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 1.74. The company’s 50-day moving average is $45.84 and its 200-day moving average is $54.88. The firm has a market capitalization of $21.19 billion, a PE ratio of 110.34, a P/E/G ratio of 1.27 and a beta of 1.78. GlobalFoundries Inc. has a fifty-two week low of $32.02 and a fifty-two week high of $92.55.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. GlobalFoundries had a net margin of 2.81% and a return on equity of 7.16%. GlobalFoundries’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Sell-side analysts anticipate that GlobalFoundries Inc. will post 1.50 earnings per share for the current year.

GlobalFoundries Dividend Announcement

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

Key Stories Impacting GlobalFoundries

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

Analyst Ratings Changes

GFS has been the topic of a number of research analyst reports. Jefferies Financial Group dropped their price target on GlobalFoundries from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday. Stifel Nicolaus initiated coverage on shares of GlobalFoundries in a research report on Tuesday, September 1st. They set a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of GlobalFoundries from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of GlobalFoundries in a report on Wednesday, August 26th. Finally, BNP Paribas Exane lowered shares of GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a research report on Monday, October 5th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.79.

Hedge Funds Weigh In On GlobalFoundries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in GlobalFoundries by 8,275,141.2% during the 1st quarter. Bessemer Group Inc. now owns 2,813,582 shares of the company’s stock worth $125,147,000 after purchasing an additional 2,813,548 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in GlobalFoundries by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,340,385 shares of the company’s stock valued at $59,571,000 after purchasing an additional 31,590 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in GlobalFoundries in the 3rd quarter valued at $40,775,000. Bank of America Corp DE grew its holdings in GlobalFoundries by 106.1% in the 1st quarter. Bank of America Corp DE now owns 875,361 shares of the company’s stock valued at $38,936,000 after buying an additional 450,722 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in GlobalFoundries by 322.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 715,000 shares of the company’s stock valued at $31,803,000 after buying an additional 545,900 shares in the last quarter.

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.