Appleton Partners Inc. MA Invests $11.95 Million in GlobalFoundries Inc. $GFS

Key Points

• Appleton Partners Inc. MA bought a new stake in GlobalFoundries, purchasing 268,748 shares worth about $11.95 million in the first quarter.
• GlobalFoundries reported better-than-expected earnings for the latest quarter, with EPS of $0.40 versus the $0.35 estimate, while revenue came in at $1.63 billion and rose 3.1% year over year.
• The company also announced a quarterly dividend of $0.12 per share, and analysts currently have a consensus rating of Hold with an average price target of $74.62.

Appleton Partners Inc. MA purchased a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 268,748 shares of the company's stock, valued at approximately $11,954,000.

A number of other large investors also recently modified their holdings of GFS. Vident Advisory LLC boosted its holdings in GlobalFoundries by 5.0% in the fourth quarter. Vident Advisory LLC now owns 6,160 shares of the company's stock valued at $215,000 after purchasing an additional 293 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its position in shares of GlobalFoundries by 9.3% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,575 shares of the company's stock worth $125,000 after buying an additional 305 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of GlobalFoundries by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,744 shares of the company's stock worth $372,000 after buying an additional 324 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of GlobalFoundries by 5.7% in the 2nd quarter. California State Teachers Retirement System now owns 6,480 shares of the company's stock valued at $248,000 after buying an additional 347 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of GlobalFoundries by 57.6% in the 4th quarter. Covestor Ltd now owns 955 shares of the company's stock valued at $33,000 after buying an additional 349 shares in the last quarter.

Insider Activity at GlobalFoundries

In other news, insider Michael James Hogan sold 2,800 shares of GlobalFoundries stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $83.53, for a total transaction of $233,884.00. Following the completion of the transaction, the insider owned 3,745 shares of the company's stock, valued at $312,819.85. The trade was a 42.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samak L. Azar sold 335 shares of the business's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $87.02, for a total value of $29,151.70. Following the completion of the transaction, the insider directly owned 13,484 shares of the company's stock, valued at approximately $1,173,377.68. This trade represents a 2.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,510 shares of company stock worth $1,548,366 in the last three months.

GlobalFoundries Stock Performance

NASDAQ GFS opened at $69.84 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.59 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $38.32 billion, a P/E ratio of 50.24, a P/E/G ratio of 2.47 and a beta of 1.76. GlobalFoundries Inc. has a 52-week low of $31.51 and a 52-week high of $92.55. The firm has a 50-day moving average price of $76.76 and a 200 day moving average price of $55.49.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. GlobalFoundries had a return on equity of 6.85% and a net margin of 11.40%.The company had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm's quarterly revenue was up 3.1% on a year-over-year basis. GlobalFoundries has set its Q2 2026 guidance at 0.250-0.350 EPS. Equities research analysts expect that GlobalFoundries Inc. will post 1.38 EPS for the current year.

GlobalFoundries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Wednesday, June 24th 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 0.7%. The ex-dividend date is Wednesday, June 24th. GlobalFoundries's dividend payout ratio (DPR) is presently 34.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GFS shares. Robert W. Baird set a $100.00 price target on shares of GlobalFoundries in a research note on Wednesday, May 6th. Needham & Company LLC upped their price objective on shares of GlobalFoundries from $55.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Jefferies Financial Group reaffirmed a "hold" rating and set a $65.00 price objective on shares of GlobalFoundries in a report on Wednesday, May 6th. Citigroup lifted their target price on GlobalFoundries from $49.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley boosted their target price on GlobalFoundries from $58.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.62.

GlobalFoundries Profile

GlobalFoundries, Inc NASDAQ: GFS is a leading contract semiconductor manufacturer that provides wafer fabrication and related services to semiconductor companies and systems manufacturers. The company operates as a pure-play foundry, producing integrated circuits across a range of process technologies for customers in markets such as automotive, communications, consumer electronics, industrial, and aerospace. Its service offering spans process development, manufacturing, test and packaging support, and design enablement including process design kits (PDKs) and intellectual property (IP) libraries to help customers bring designs to production.

GlobalFoundries focuses on a portfolio of differentiated and specialty process nodes, offering technologies for radio-frequency (RF) and wireless, analog and mixed-signal, power management, embedded non-volatile memory, and silicon-on-insulator (SOI) process families.

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