Key Points
- Insider sale: GlobalFoundries insider Samak Azar sold 335 shares for approximately $15,018 under a pre-arranged Rule 10b5-1 plan, reducing their stake by 3.31% to 9,799 shares.
- Financial performance: The company reported quarterly EPS of $0.46, exceeding the $0.43 analyst consensus, while revenue reached $1.79 billion and increased 5.8% year over year.
- Dividend and outlook: GlobalFoundries declared a quarterly dividend of $0.12 per share, equivalent to a 1.0% yield. Analysts have a consensus “Hold” rating with an average price target of $74.32.
GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Samak Azar sold 335 shares of the business's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $44.83, for a total transaction of $15,018.05. Following the completion of the transaction, the insider directly owned 9,799 shares in the company, valued at $439,289.17. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
GlobalFoundries Price Performance
Shares of NASDAQ:GFS opened at $46.95 on Friday. The firm has a market cap of $25.76 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 1.46 and a beta of 1.78. The firm has a fifty day moving average price of $52.49 and a 200 day moving average price of $59.31. GlobalFoundries Inc. has a fifty-two week low of $31.59 and a fifty-two 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.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. GlobalFoundries had a net margin of 10.36% and a return on equity of 6.69%. GlobalFoundries's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. GlobalFoundries has set its Q3 2026 guidance at 0.460-0.560 EPS. As a group, sell-side analysts expect that GlobalFoundries Inc. will post 1.48 earnings per share for the current fiscal year.
GlobalFoundries Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 23rd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 23rd. GlobalFoundries's payout ratio is 37.50%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of GlobalFoundries by 7.9% during the 3rd quarter. Invesco Ltd. now owns 2,962,385 shares of the company's stock worth $106,172,000 after purchasing an additional 217,866 shares during the period. AQR Capital Management LLC boosted its stake in shares of GlobalFoundries by 9.9% during the fourth quarter. AQR Capital Management LLC now owns 2,865,046 shares of the company's stock valued at $100,047,000 after purchasing an additional 257,254 shares in the last quarter. Bessemer Group Inc. raised its stake in GlobalFoundries by 8,275,141.2% in the first quarter. Bessemer Group Inc. now owns 2,813,582 shares of the company's stock worth $125,147,000 after buying an additional 2,813,548 shares in the last quarter. Marshall Wace LLP lifted its holdings in GlobalFoundries by 126.0% during the fourth quarter. Marshall Wace LLP now owns 2,382,003 shares of the company's stock worth $83,180,000 after buying an additional 1,328,129 shares during the period. Finally, Squarepoint Ops LLC boosted its position in GlobalFoundries by 55.4% during the 4th quarter. Squarepoint Ops LLC now owns 2,021,035 shares of the company's stock valued at $70,575,000 after acquiring an additional 720,846 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Evercore restated an "outperform" rating and set a $85.00 price target on shares of GlobalFoundries in a report on Tuesday, May 19th. TD Cowen decreased their price objective on GlobalFoundries from $85.00 to $75.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Morgan Stanley reiterated a "negative" rating and set a $60.00 target price on shares of GlobalFoundries in a research report on Thursday, August 6th. UBS Group cut their target price on shares of GlobalFoundries from $61.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. Finally, Stifel Nicolaus began coverage on shares of GlobalFoundries in a research report on Tuesday, September 1st. They issued a "buy" rating and a $60.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $74.32.
Check Out Our Latest Report on GFS
About GlobalFoundries
(
Get Free Report)
GlobalFoundries Inc (NASDAQ:GFS) is a global semiconductor manufacturer that provides contract chip production and related services to technology companies. Unlike a fabless semiconductor company, GlobalFoundries operates its own fabrication facilities and manufactures chips designed by other companies across a range of end markets.
The company specializes in differentiated semiconductor technologies, including radio-frequency and connectivity solutions, embedded memory, power management, silicon photonics, gallium nitride and other specialty processes.
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