Principal Financial Group Inc. Has $5.99 Million Stock Holdings in GlobalFoundries Inc. $GFS

Key Points

• Principal Financial Group increased its GlobalFoundries stake by 54% in the first quarter, bringing its holdings to 134,576 shares valued at approximately $5.99 million. Other institutional investors also raised their positions.
• GlobalFoundries insiders sold 18,080 shares worth $1.35 million in the last quarter, with the reported transactions conducted under pre-arranged Rule 10b5-1 trading plans.
• Analysts have a consensus “Hold” rating on GFS and an average price target of $74.62. Shares opened at $53.18, while the company’s latest quarterly results exceeded EPS expectations and revenue rose 3.1% year over year.

Principal Financial Group Inc. boosted its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 54.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,576 shares of the company's stock after acquiring an additional 47,215 shares during the quarter. Principal Financial Group Inc.'s holdings in GlobalFoundries were worth $5,986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GFS. Vident Advisory LLC lifted its holdings in shares of GlobalFoundries by 5.0% during the fourth quarter. Vident Advisory LLC now owns 6,160 shares of the company's stock worth $215,000 after purchasing an additional 293 shares during the period. Federation des caisses Desjardins du Quebec increased its holdings in GlobalFoundries by 9.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,575 shares of the company's stock valued at $125,000 after purchasing an additional 305 shares during the period. The Manufacturers Life Insurance Company increased its holdings in GlobalFoundries by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 9,744 shares of the company's stock valued at $372,000 after purchasing an additional 324 shares during the period. California State Teachers Retirement System raised its position in GlobalFoundries by 5.7% during the 2nd quarter. California State Teachers Retirement System now owns 6,480 shares of the company's stock worth $248,000 after purchasing an additional 347 shares during the last quarter. Finally, Covestor Ltd raised its position in GlobalFoundries by 57.6% during the 4th quarter. Covestor Ltd now owns 955 shares of the company's stock worth $33,000 after purchasing an additional 349 shares during the last quarter.

Insider Buying and Selling at GlobalFoundries

In related news, insider Michael James Hogan sold 500 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $70.90, for a total transaction of $35,450.00. Following the transaction, the insider directly owned 795 shares of the company's stock, valued at $56,365.50. This represents a 38.61% decrease in their ownership of the stock. 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. Also, insider Samak L. Azar sold 335 shares of the firm's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $77.36, for a total transaction of $25,915.60. Following the completion of the sale, the insider owned 13,149 shares of the company's stock, valued at $1,017,206.64. The trade was a 2.48% 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 sold a total of 18,080 shares of company stock valued at $1,349,680 in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GFS. Wedbush reiterated a "neutral" rating and issued a $50.00 price target on shares of GlobalFoundries in a research report on Monday, May 4th. Weiss Ratings restated a "hold (c)" rating on shares of GlobalFoundries in a research report on Friday, May 29th. Morgan Stanley lifted their price objective on GlobalFoundries from $58.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Loop Capital set a $80.00 target price on GlobalFoundries in a report on Monday, May 4th. Finally, Citigroup increased their target price on shares of GlobalFoundries from $49.00 to $70.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. One investment 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $74.62.

GlobalFoundries Stock Down 0.7%

Shares of GlobalFoundries stock opened at $53.18 on Tuesday. GlobalFoundries Inc. has a one year low of $31.51 and a one year high of $92.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.59 and a quick ratio of 1.87. The stock's 50-day moving average is $74.51 and its 200 day moving average is $58.33. The firm has a market cap of $29.18 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 1.89 and a beta of 1.76.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released 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. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.63 billion. GlobalFoundries had a return on equity of 6.85% and a net margin of 11.40%.The firm's revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. GlobalFoundries has set its Q2 2026 guidance at 0.250-0.350 EPS. Equities research analysts anticipate that GlobalFoundries Inc. will post 1.38 EPS for the current year.

GlobalFoundries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Wednesday, June 24th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. GlobalFoundries's dividend payout ratio (DPR) is 34.53%.

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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