Atreides Management LP Buys New Holdings in GlobalFoundries Inc. $GFS

Key Points

• Atreides Management LP bought 474,593 shares of GlobalFoundries worth approximately $21.1 million, representing about 0.09% of the company.
• Analyst sentiment is mixed: the consensus rating is “Hold” with an average price target of $74.62, while individual targets range as high as $85.
• GlobalFoundries beat quarterly earnings expectations with EPS of $0.40 versus $0.35 estimated, reported $1.63 billion in revenue, and maintains a quarterly dividend of $0.12 per share.

Atreides Management LP purchased a new position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 474,593 shares of the company's stock, valued at approximately $21,110,000. Atreides Management LP owned approximately 0.09% of GlobalFoundries at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GFS. WealthCollab LLC raised its position in shares of GlobalFoundries by 674.7% during the fourth quarter. WealthCollab LLC now owns 705 shares of the company's stock valued at $25,000 after buying an additional 614 shares during the last quarter. Covestor Ltd lifted its stake in GlobalFoundries by 57.6% in the 4th quarter. Covestor Ltd now owns 955 shares of the company's stock worth $33,000 after purchasing an additional 349 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of GlobalFoundries during the fourth quarter valued at about $35,000. Strategic Advocates LLC lifted its position in shares of GlobalFoundries by 95.1% in the fourth quarter. Strategic Advocates LLC now owns 1,026 shares of the company's stock worth $37,000 after buying an additional 500 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of GlobalFoundries by 39.8% in the first quarter. Parallel Advisors LLC now owns 832 shares of the company's stock worth $37,000 after buying an additional 237 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Needham & Company LLC lifted their price objective on GlobalFoundries from $55.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Zacks Research raised shares of GlobalFoundries from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. UBS Group increased their price objective on shares of GlobalFoundries from $65.00 to $77.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Weiss Ratings restated a "hold (c)" rating on shares of GlobalFoundries in a report on Friday, May 29th. Finally, Evercore restated an "outperform" rating and set a $85.00 target price on shares of GlobalFoundries in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $74.62.

Insider Buying and Selling at GlobalFoundries

In other GlobalFoundries news, insider Samak L. Azar sold 500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $74.82, for a total value of $37,410.00. Following the sale, the insider owned 15,494 shares in the company, valued at $1,159,261.08. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael James Hogan sold 2,800 shares of GlobalFoundries stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $82.88, for a total value of $232,064.00. Following the sale, the insider owned 9,645 shares of the company's stock, valued at approximately $799,377.60. This trade represents a 22.50% 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 20,115 shares of company stock valued at $1,462,108 in the last quarter.

GlobalFoundries Price Performance

GlobalFoundries stock opened at $49.02 on Wednesday. The firm has a 50-day moving average price of $74.16 and a 200-day moving average price of $58.39. The firm has a market capitalization of $26.90 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 1.88 and a beta of 1.76. The company has a current ratio of 2.59, a quick ratio of 1.87 and a debt-to-equity ratio of 0.13. GlobalFoundries Inc. has a 12-month low of $31.51 and a 12-month high of $92.55.

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

GlobalFoundries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Wednesday, June 24th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 24th. This represents a $0.48 dividend on an annualized basis and a yield of 1.0%. GlobalFoundries's payout ratio is presently 34.53%.

About GlobalFoundries

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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