Monaco Asset Management SAM Takes Position in GlobalFoundries Inc. $GFS

Key Points

• Monaco Asset Management SAM bought a new stake in GlobalFoundries during the fourth quarter, purchasing 200,000 shares valued at about $6.98 million. The holding now represents 1.2% of the fund’s portfolio and its 20th-largest position.
• Other large investors also increased or initiated positions, including Norges Bank, Geode Capital Management, and Legal & General Group, signaling continued institutional interest in the stock.
• GlobalFoundries reported better-than-expected earnings for the latest quarter, with EPS of $0.40 versus a $0.35 consensus, and also announced a quarterly dividend of $0.12 per share. Analysts currently rate the stock a consensus Hold with an average price target of $69.88.

Monaco Asset Management SAM purchased a new stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 200,000 shares of the company's stock, valued at approximately $6,984,000. GlobalFoundries makes up 1.2% of Monaco Asset Management SAM's investment portfolio, making the stock its 20th biggest holding.

Several other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of GlobalFoundries in the fourth quarter valued at $5,225,000. Eaton Financial Holdings Company LLC grew its position in shares of GlobalFoundries by 16.2% in the fourth quarter. Eaton Financial Holdings Company LLC now owns 61,963 shares of the company's stock valued at $2,164,000 after purchasing an additional 8,628 shares in the last quarter. Geode Capital Management LLC grew its position in shares of GlobalFoundries by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 984,556 shares of the company's stock valued at $34,381,000 after purchasing an additional 3,350 shares in the last quarter. Legal & General Group Plc grew its position in shares of GlobalFoundries by 10.1% in the fourth quarter. Legal & General Group Plc now owns 385,058 shares of the company's stock valued at $13,446,000 after purchasing an additional 35,378 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of GlobalFoundries in the fourth quarter valued at $1,526,000.

GlobalFoundries Price Performance

GlobalFoundries stock opened at $79.97 on Monday. GlobalFoundries Inc. has a 52 week low of $31.51 and a 52 week high of $92.55. The business has a 50-day simple moving average of $60.18 and a 200 day simple moving average of $47.60. 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 cap of $44.50 billion, a price-to-earnings ratio of 57.53, a PEG ratio of 2.83 and a beta of 1.77.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.40 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 business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The firm's revenue was up 3.1% on a year-over-year basis. GlobalFoundries has set its Q2 2026 guidance at 0.250-0.350 EPS. On average, research analysts forecast that GlobalFoundries Inc. will post 1.38 earnings per share for the current fiscal year.

GlobalFoundries Announces Dividend

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

Insiders Place Their Bets

In other GlobalFoundries news, Director Glenda Dorchak sold 4,000 shares of GlobalFoundries stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $58.46, for a total transaction of $233,840.00. Following the completion of the sale, the director owned 18,867 shares of the company's stock, valued at $1,102,964.82. The trade was a 17.49% decrease in their ownership of the stock. The sale 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 Samak L. Azar sold 335 shares of GlobalFoundries stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $77.99, for a total value of $26,126.65. Following the sale, the insider directly owned 15,159 shares of the company's stock, valued at approximately $1,182,250.41. This trade represents a 2.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,835 shares of company stock valued at $1,167,763 over the last 90 days.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GFS. TD Cowen reiterated a "buy" rating on shares of GlobalFoundries in a research report on Thursday, February 12th. Wedbush reiterated a "neutral" rating and issued a $50.00 price target on shares of GlobalFoundries in a research report on Monday, May 4th. Robert W. Baird set a $100.00 target price on GlobalFoundries in a research report on Wednesday, May 6th. Weiss Ratings restated a "hold (c)" rating on shares of GlobalFoundries in a research report on Friday. 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. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $69.88.

GlobalFoundries Company 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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