Key Points
- Director Jack Lazar bought 10,000 GlobalFoundries shares at $38 each, spending $380,000 and increasing his holdings by 35.59% to 38,094 shares.
- GlobalFoundries reported quarterly EPS of $0.53, ahead of the $0.51 estimate, while revenue of $1.90 billion also topped forecasts and rose 12.5% year over year.
- Analysts’ consensus rating is Hold, with an average price target of $67.79; the company also announced a $0.12 quarterly dividend.
GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) Director Jack Lazar purchased 10,000 shares of the company's stock in a transaction dated Friday, November 6th. The shares were bought at an average cost of $38.00 per share, for a total transaction of $380,000.00. Following the acquisition, the director owned 38,094 shares in the company, valued at approximately $1,447,572. The trade was a 35.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
GlobalFoundries Stock Performance
Shares of GFS stock opened at $40.51 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.48 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $45.75 and a 200-day moving average price of $54.85. GlobalFoundries Inc. has a 52 week low of $32.02 and a 52 week high of $92.55. The firm has a market capitalization of $22.23 billion, a PE ratio of 26.37, a P/E/G ratio of 1.28 and a beta of 1.78.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $1.90 billion for 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 7.18%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. As a group, equities research analysts expect that GlobalFoundries Inc. will post 1.50 earnings per share for the current year.
GlobalFoundries Dividend Announcement
The business also recently announced 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 22nd. GlobalFoundries's payout ratio is 137.14%.
Hedge Funds Weigh In On GlobalFoundries
Institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in GlobalFoundries in the third quarter worth approximately $30,000. Parallel Advisors LLC boosted its stake in shares of GlobalFoundries by 39.8% during the 1st quarter. Parallel Advisors LLC now owns 832 shares of the company's stock worth $37,000 after acquiring an additional 237 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of GlobalFoundries during the 1st quarter worth $53,000. FNY Investment Advisers LLC purchased a new position in shares of GlobalFoundries during the 2nd quarter worth $60,000. Finally, Signaturefd LLC grew its position in shares of GlobalFoundries by 22.3% during the 3rd 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 period.
Analysts Set New Price Targets
Several research firms have recently weighed in on GFS. Morgan Stanley lowered 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. Citigroup dropped their price target on GlobalFoundries from $58.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday, November 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GlobalFoundries in a report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on GlobalFoundries in a research report on Monday, August 10th. Finally, Jefferies Financial Group lowered their target price on GlobalFoundries from $60.00 to $50.00 and set a "hold" rating on the stock in a report on Wednesday, November 4th. Eight research 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $67.79.
Check Out Our Latest Report on GFS
GlobalFoundries Company Profile
(
Get Free Report)
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.
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