GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Samak Azar sold 335 shares of GlobalFoundries stock in a transaction on 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 sale, the insider directly owned 7,119 shares of the company's stock, valued at approximately $276,359.58. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
GlobalFoundries Stock Up 6.2%
GFS traded up $2.26 during trading on Friday, hitting $38.62. 5,023,286 shares of the company's stock were exchanged, compared to its average volume of 5,924,218. GlobalFoundries Inc. has a fifty-two week low of $32.02 and a fifty-two week high of $92.55. The stock 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. The business's 50 day moving average is $45.84 and its two-hundred day moving average is $54.88. The company has a quick ratio of 1.74, a current ratio of 2.48 and a debt-to-equity ratio of 0.13.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.89 billion. GlobalFoundries had a net margin of 10.36% and a return on equity of 6.69%. The business's revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. As a group, equities analysts expect that GlobalFoundries Inc. will post 1.50 earnings per share for the current fiscal year.
GlobalFoundries Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Tuesday, December 22nd will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%. GlobalFoundries's payout ratio is 137.14%.
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
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Morgan Stanley lowered their price objective on GlobalFoundries from $60.00 to $56.00 and set an "equal weight" rating for the company in a research note on Monday, November 2nd. Wedbush lowered their price target on GlobalFoundries from $72.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday. TD Cowen dropped their price objective on GlobalFoundries from $75.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday. Stifel Nicolaus started coverage on shares of GlobalFoundries in a report on Tuesday, September 1st. They set a "buy" rating and a $60.00 price objective on the stock. Finally, BNP Paribas Exane lowered shares of GlobalFoundries from an "outperform" rating to a "neutral" rating and set a $51.00 target price for the company. in a research note on Monday, October 5th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, GlobalFoundries currently has an average rating of "Hold" and an average target price of $67.79.
View Our Latest Report on GlobalFoundries
Hedge Funds Weigh In On GlobalFoundries
Several hedge funds have recently modified their holdings of GFS. V Square Quantitative Management LLC purchased a new position in shares of GlobalFoundries in the 3rd quarter worth approximately $30,000. Parallel Advisors LLC grew its holdings in shares of GlobalFoundries by 39.8% in the first quarter. Parallel Advisors LLC now owns 832 shares of the company's stock valued at $37,000 after acquiring an additional 237 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of GlobalFoundries in the first quarter valued at approximately $53,000. FNY Investment Advisers LLC purchased a new stake in shares of GlobalFoundries during the second quarter valued at approximately $60,000. Finally, Signaturefd LLC increased its position in shares of GlobalFoundries by 22.3% during the third quarter. Signaturefd LLC now owns 1,370 shares of the company's stock valued at $66,000 after acquiring an additional 250 shares during the last quarter.
GlobalFoundries Company Profile
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Get Free Report)
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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