CIBC Asset Management Inc Has $597,000 Position in GlobalFoundries Inc. $GFS

Key Points

• CIBC Asset Management cut its GlobalFoundries stake by 84.6% in the fourth quarter, leaving it with 17,087 shares valued at about $597,000.
• Several other institutions adjusted positions in the company, with Goldman Sachs and others notably increasing holdings, signaling mixed but active institutional interest in GFS.
• GlobalFoundries reported Q1 earnings of $0.40 per share, beating estimates, and raised its Q2 guidance to $0.25-$0.35 EPS; the company also announced a quarterly dividend of $0.12 per share.

CIBC Asset Management Inc lessened its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 84.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,087 shares of the company's stock after selling 93,944 shares during the quarter. CIBC Asset Management Inc's holdings in GlobalFoundries were worth $597,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in GlobalFoundries by 72.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,208,828 shares of the company's stock valued at $42,212,000 after buying an additional 508,046 shares during the last quarter. AXQ Capital LP raised its holdings in GlobalFoundries by 438.9% in the 4th quarter. AXQ Capital LP now owns 49,617 shares of the company's stock valued at $1,733,000 after buying an additional 40,410 shares during the last quarter. Monaco Asset Management SAM bought a new position in GlobalFoundries in the 4th quarter valued at approximately $6,984,000. Norges Bank bought a new position in GlobalFoundries in the 4th quarter valued at approximately $5,225,000. Finally, Eaton Financial Holdings Company LLC raised its holdings in GlobalFoundries by 16.2% in the 4th quarter. Eaton Financial Holdings Company LLC now owns 61,963 shares of the company's stock valued at $2,164,000 after buying an additional 8,628 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GFS. Needham & Company LLC raised their price objective on shares of GlobalFoundries from $55.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. UBS Group raised their price objective on shares of GlobalFoundries from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Susquehanna raised their price objective on shares of GlobalFoundries to $125.00 and gave the company a "positive" rating in a report on Monday, May 11th. Citigroup raised their price target on shares of GlobalFoundries from $49.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of GlobalFoundries from $45.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. 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 data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $69.88.

GlobalFoundries Stock Down 2.7%

GlobalFoundries stock opened at $75.26 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.87 and a current ratio of 2.59. 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 $65.23 and a two-hundred day moving average price of $49.92. The firm has a market cap of $41.88 billion, a price-to-earnings ratio of 54.14, a PEG ratio of 2.73 and a beta of 1.77.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly 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 net margin of 11.40% and a return on equity of 6.85%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $0.34 EPS. The company'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. Equities analysts predict that GlobalFoundries Inc. will post 1.38 EPS for the current year.

GlobalFoundries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Wednesday, June 24th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%.

Insider Buying and Selling at GlobalFoundries

In other news, insider Michael James Hogan sold 2,800 shares of GlobalFoundries stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $82.88, for a total value of $232,064.00. Following the completion of the sale, the insider owned 9,645 shares in the company, valued at $799,377.60. The trade was a 22.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samak L. Azar sold 335 shares of GlobalFoundries stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $82.00, for a total transaction of $27,470.00. Following the completion of the sale, the insider owned 14,489 shares of the company's stock, valued at $1,188,098. This represents a 2.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,505 shares of company stock valued at $1,222,334 in the last quarter.

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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