GlobalFoundries (NASDAQ:GFS) Insider Samak Azar Sells 335 Shares

Key Points

• Insider sale: GlobalFoundries insider Samak Azar sold 335 shares at an average price of $44.83, generating $15,018.05. The transaction, conducted under a Rule 10b5-1 plan, reduced Azar’s ownership by 3.31% to 9,799 shares.
• Financial performance: GlobalFoundries exceeded quarterly expectations with earnings of $0.46 per share and revenue of $1.79 billion, up 5.8% year over year. The company guided for third-quarter EPS of $0.46–$0.56.
• Stock outlook and dividend: Shares recently traded at $46.96, while analysts’ consensus rating is “Hold” with a $74.32 price target. GlobalFoundries declared a quarterly dividend of $0.12 per share, representing a 1.0% yield.

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Samak Azar sold 335 shares of GlobalFoundries stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $44.83, for a total value of $15,018.05. Following the completion of the transaction, the insider directly owned 9,799 shares of the company's stock, valued at $439,289.17. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GlobalFoundries Price Performance

Shares of NASDAQ:GFS traded up $1.00 during trading on Friday, reaching $46.96. 3,335,250 shares of the company traded hands, compared to its average volume of 4,270,000. The firm has a market capitalization of $25.77 billion, a PE ratio of 36.69, a PEG ratio of 1.46 and a beta of 1.78. GlobalFoundries Inc. has a 52 week low of $31.59 and a 52 week high of $92.55. The company has a quick ratio of 1.74, a current ratio of 2.48 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $52.95 and its two-hundred day moving average is $59.40.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the business earned $0.42 earnings per share. 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. As a group, sell-side analysts predict that GlobalFoundries Inc. will post 1.48 earnings per share for the current year.

GlobalFoundries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 23rd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 23rd. GlobalFoundries's dividend payout ratio is 37.50%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GFS shares. Zacks Research cut shares of GlobalFoundries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Jefferies Financial Group set a $60.00 target price on GlobalFoundries in a report on Wednesday, August 5th. Cantor Fitzgerald reiterated an "overweight" rating on shares of GlobalFoundries in a research note on Tuesday. Stifel Nicolaus assumed coverage on GlobalFoundries in a research report on Tuesday, September 1st. They set a "buy" rating and a $60.00 price objective for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of GlobalFoundries in a research note on Wednesday, August 26th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, GlobalFoundries presently has an average rating of "Hold" and a consensus price target of $74.32.

Institutional Trading of GlobalFoundries

A number of hedge funds have recently made changes to their positions in GFS. Aster Capital Management DIFC Ltd lifted its holdings in GlobalFoundries by 844.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 62,593 shares of the company's stock valued at $2,186,000 after buying an additional 55,967 shares during the period. Sei Investments Co. grew its holdings in GlobalFoundries by 239.0% during the 1st quarter. Sei Investments Co. now owns 48,246 shares of the company's stock worth $2,146,000 after acquiring an additional 34,014 shares during the period. AXQ Capital LP raised its position in shares of GlobalFoundries by 438.9% in the 4th quarter. AXQ Capital LP now owns 49,617 shares of the company's stock worth $1,733,000 after acquiring an additional 40,410 shares in the last quarter. Bank of America Corp DE raised its position 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 worth $38,936,000 after acquiring an additional 450,722 shares in the last quarter. Finally, Monaco Asset Management SAM acquired a new position in shares of GlobalFoundries in the 4th quarter valued at about $6,984,000.

About GlobalFoundries

GlobalFoundries Inc NASDAQ: GFS is a global semiconductor manufacturer that provides contract chip production and related services to technology companies. Unlike a fabless semiconductor company, GlobalFoundries operates its own fabrication facilities and manufactures chips designed by other companies across a range of end markets.

The company specializes in differentiated semiconductor technologies, including radio-frequency and connectivity solutions, embedded memory, power management, silicon photonics, gallium nitride and other specialty processes.

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