Key Points
- GlobalFoundries insider Samak Azar sold 335 shares for $14,023 at an average price of $41.86 under a pre-arranged Rule 10b5-1 plan, retaining 6,784 shares.
- The company reported quarterly EPS of $0.53, topping the $0.51 estimate, while revenue of $1.90 billion exceeded forecasts and rose 12.5% year over year.
- Analyst sentiment is mixed: MarketBeat reports a consensus Hold rating and $67.79 average price target, with eight Buy, ten Hold, and two Sell ratings.
GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Samak Azar sold 335 shares of the stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $41.86, for a total value of $14,023.10. Following the completion of the sale, the insider owned 6,784 shares in the company, valued at $283,978.24. This trade represents a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
GlobalFoundries Price Performance
NASDAQ:GFS traded down $1.15 during trading hours on Friday, hitting $41.47. 2,780,537 shares of the company's stock traded hands, compared to its average volume of 5,657,166. The firm has a market cap of $22.75 billion, a P/E ratio of 118.49, a P/E/G ratio of 1.37 and a beta of 1.78. GlobalFoundries Inc. has a 52 week low of $32.02 and a 52 week high of $92.55. The business's fifty day simple moving average is $45.56 and its two-hundred day simple moving average is $54.79. The company has a quick ratio of 1.87, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. GlobalFoundries had a return on equity of 7.16% and a net margin of 2.81%. The company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. On average, research analysts anticipate that GlobalFoundries Inc. will post 1.55 earnings per share for the current fiscal year.
GlobalFoundries Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Stockholders of record on Tuesday, December 22nd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, December 22nd. GlobalFoundries's dividend payout ratio (DPR) is 137.14%.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Needham & Company LLC cut their price objective on GlobalFoundries from $80.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, November 4th. Robert W. Baird set a $140.00 target price on shares of GlobalFoundries in a research note on Thursday, August 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of GlobalFoundries in a research report on Thursday, October 15th. Citigroup cut their price target on shares of GlobalFoundries from $58.00 to $46.00 and set a "neutral" rating for the company in a research note on Thursday, November 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of GlobalFoundries from $57.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, November 5th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $67.79.
Check Out Our Latest Research Report on GFS
Hedge Funds Weigh In On GlobalFoundries
Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in GlobalFoundries by 8.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,954 shares of the company's stock worth $87,000 after buying an additional 154 shares during the last quarter. Parallel Advisors LLC grew its position in GlobalFoundries by 39.8% during 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 during the last quarter. Signaturefd LLC grew its position in 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. Commonwealth Equity Services LLC grew its position in GlobalFoundries by 4.7% during the third quarter. Commonwealth Equity Services LLC now owns 5,751 shares of the company's stock valued at $276,000 after acquiring an additional 258 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of GlobalFoundries by 5.3% during the first quarter. California State Teachers Retirement System now owns 6,735 shares of the company's stock worth $300,000 after acquiring an additional 340 shares in the last quarter.
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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