GlobalFoundries (NASDAQ:GFS) Reaches New 12-Month High - Here's What Happened

Key Points

• GlobalFoundries hit a new 52-week high, trading as high as $80.48 after closing previously at $70.79, reflecting strong recent momentum in the stock.
• Recent analyst activity has been mixed: several firms raised targets or reiterated positive views, but the overall consensus remains “Hold” with an average price target of $69.88.
• The company reported better-than-expected Q1 earnings of $0.40 per share and also announced a quarterly dividend of $0.12 per share, while insiders have sold shares in recent weeks.

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $80.48 and last traded at $77.5260, with a volume of 737281 shares trading hands. The stock had previously closed at $70.79.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings raised shares of GlobalFoundries from a "sell (d)" rating to a "hold (c)" rating in a research report on Monday, March 2nd. UBS Group boosted their target price on shares of GlobalFoundries from $65.00 to $77.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Dbs Bank lowered shares of GlobalFoundries from a "moderate buy" rating to a "hold" rating in a research report on Friday, February 13th. Evercore reaffirmed an "outperform" rating and set a $85.00 target price on shares of GlobalFoundries in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of GlobalFoundries from $45.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Eight equities 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $69.88.

GlobalFoundries Price Performance

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's 50-day moving average is $54.57 and its 200-day moving average is $45.21. The firm has a market cap of $43.94 billion, a P/E ratio of 56.96, a price-to-earnings-growth ratio of 2.36 and a beta of 1.71.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. The business'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. As a group, equities analysts anticipate that GlobalFoundries Inc. will post 1.38 EPS for the current fiscal year.

GlobalFoundries Dividend Announcement

The firm 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 is Wednesday, June 24th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%.

Insiders Place Their Bets

In other news, insider Michael James Hogan sold 500 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $70.00, for a total value of $35,000.00. Following the sale, the insider owned 15,395 shares in the company, valued at approximately $1,077,650. The trade was a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samak L. Azar sold 500 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $74.82, for a total transaction of $37,410.00. Following the completion of the sale, the insider owned 15,494 shares in the company, valued at $1,159,261.08. This represents a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,700 shares of company stock worth $909,572 over the last 90 days.

Institutional Investors Weigh In On GlobalFoundries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Boothe Investment Group Inc. boosted its stake in shares of GlobalFoundries by 1.4% in the 1st quarter. Boothe Investment Group Inc. now owns 77,458 shares of the company's stock valued at $3,445,000 after purchasing an additional 1,092 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of GlobalFoundries in the 1st quarter valued at $68,000. Bank of America Corp DE boosted its stake in shares of GlobalFoundries by 106.1% in the 1st quarter. Bank of America Corp DE now owns 875,361 shares of the company's stock valued at $38,936,000 after purchasing an additional 450,722 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of GlobalFoundries in the 1st quarter valued at $1,108,000. Finally, Bull Harbor Capital LLC acquired a new stake in shares of GlobalFoundries in the 1st quarter valued at $430,000.

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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