Deltec Asset Management LLC Purchases 60,500 Shares of GlobalFoundries Inc. $GFS

Key Points

• Deltec Asset Management purchased 60,500 GlobalFoundries shares during the third quarter, valued at approximately $2.9 million.
• Several institutional investors increased their positions, including Bank of America, Dimensional Fund Advisors, and Healthcare of Ontario Pension Plan Trust Fund, signaling continued institutional interest.
• Analysts maintain a consensus “Hold” rating, with an average price target of $75.79; GlobalFoundries recently exceeded quarterly earnings and revenue expectations.

Deltec Asset Management LLC purchased a new stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 60,500 shares of the company's stock, valued at approximately $2,899,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of GlobalFoundries by 8,275,141.2% in the first quarter. Bessemer Group Inc. now owns 2,813,582 shares of the company's stock valued at $125,147,000 after acquiring an additional 2,813,548 shares in the last quarter. Dimensional Fund Advisors LP increased its position in GlobalFoundries by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,340,385 shares of the company's stock worth $59,571,000 after acquiring an additional 31,590 shares during the period. Bank of America Corp DE raised its stake in GlobalFoundries by 106.1% in the 1st quarter. Bank of America Corp DE now owns 875,361 shares of the company's stock worth $38,936,000 after purchasing an additional 450,722 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in GlobalFoundries by 322.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 715,000 shares of the company's stock valued at $31,803,000 after purchasing an additional 545,900 shares during the period. Finally, Atreides Management LP bought a new stake in GlobalFoundries in the 1st quarter valued at about $21,110,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on GFS. Stifel Nicolaus initiated coverage on shares of GlobalFoundries in a research report on Tuesday, September 1st. They set a "buy" rating and a $60.00 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of GlobalFoundries in a research note on Thursday, October 15th. Zacks Research cut GlobalFoundries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Robert W. Baird set a $140.00 price target on GlobalFoundries in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft set a $75.00 price objective on GlobalFoundries in a research note on Monday, August 10th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $75.79.

Insider Transactions at GlobalFoundries

In other GlobalFoundries news, insider Pradheepa Raman sold 6,760 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $51.12, for a total transaction of $345,571.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,925 shares of company stock valued at $638,247 in the last quarter.

GlobalFoundries Trading Up 1.4%

Shares of GFS stock opened at $45.00 on Tuesday. The stock's fifty day moving average price is $46.85 and its two-hundred day moving average price is $54.81. The company has a market cap of $24.69 billion, a PE ratio of 35.16, a P/E/G ratio of 1.41 and a beta of 1.77. GlobalFoundries Inc. has a fifty-two week low of $32.02 and a fifty-two week high of $92.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 2.48.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. GlobalFoundries had a return on equity of 6.69% and a net margin of 10.36%. The company had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. GlobalFoundries's revenue was up 5.8% on a year-over-year basis. GlobalFoundries has set its Q3 2026 guidance at 0.460-0.560 EPS. Equities analysts predict that GlobalFoundries Inc. will post 1.48 EPS for the current fiscal year.

GlobalFoundries Profile

GlobalFoundries Inc NASDAQ: GFS is a semiconductor manufacturer that operates as a contract foundry, producing chips designed by other companies. The company provides wafer fabrication and related services for customers in the automotive, communications infrastructure, aerospace and defense, industrial, and consumer electronics markets.

GlobalFoundries specializes in differentiated semiconductor technologies rather than competing primarily in the most advanced logic-processing nodes. Its offerings include radio-frequency and silicon-on-insulator technologies, embedded memory, power-management solutions, high-voltage processes, silicon photonics, and other specialty platforms used in connectivity, sensing, automotive electronics, and edge-computing applications.

The company was established in 2009 through the separation of Advanced Micro Devices' manufacturing operations, with investment from the Abu Dhabi-based Advanced Technology Investment Company.

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