GlobalFoundries Inc. $GFS Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments purchased 850,896 GlobalFoundries shares worth approximately $40.8 million during the third quarter, giving it a 0.16% stake.
• GlobalFoundries exceeded quarterly expectations, reporting $0.46 in EPS and $1.79 billion in revenue, with revenue up 5.8% year over year. The company issued third-quarter EPS guidance of $0.46–$0.56.
• Analyst sentiment remains mixed: eight analysts rate the stock Buy, 10 rate it Hold and two rate it Sell. The consensus rating is Hold, with an average price target of $75.79.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 850,896 shares of the company's stock, valued at approximately $40,775,000. Mirae Asset Global Investments Co. Ltd. owned 0.16% of GlobalFoundries as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GFS. Sei Investments Co. increased its holdings in shares of GlobalFoundries by 239.0% in the first quarter. Sei Investments Co. now owns 48,246 shares of the company's stock valued at $2,146,000 after purchasing an additional 34,014 shares during the period. Bank of America Corp DE raised its stake in shares of GlobalFoundries by 106.1% during the first 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 during the last quarter. First Trust Advisors LP raised its stake in shares of GlobalFoundries by 97.4% during the first quarter. First Trust Advisors LP now owns 264,837 shares of the company's stock worth $11,780,000 after purchasing an additional 130,643 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of GlobalFoundries during the second quarter worth $3,067,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of GlobalFoundries during the first quarter worth $1,108,000.

Insider Buying and Selling at GlobalFoundries

In other news, insider Pradheepa Raman sold 6,760 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $51.12, for a total transaction of $345,571.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 12,925 shares of company stock worth $637,054.

GlobalFoundries Price Performance

Shares of NASDAQ GFS opened at $41.90 on Monday. The stock has a market cap of $22.99 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 1.33 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 company's 50-day moving average price is $46.48 and its 200 day moving average price is $54.92. The company has a current ratio of 2.48, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus started coverage on shares of GlobalFoundries in a research report on Tuesday, September 1st. They set a "buy" rating and a $60.00 price objective for the company. Wedbush restated a "neutral" rating and issued a $72.00 target price on shares of GlobalFoundries in a research note on Thursday, October 15th. Morgan Stanley reaffirmed a "negative" rating and issued a $60.00 target price on shares of GlobalFoundries in a report on Thursday, August 6th. Robert W. Baird set a $140.00 price target on shares of GlobalFoundries in a research note on Thursday, August 6th. Finally, Jefferies Financial Group set a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, GlobalFoundries has an average rating of "Hold" and an average target price of $75.79.

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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