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

Key Points

• Insider sale: GlobalFoundries insider Samak Azar sold 335 shares at an average price of $45.72, reducing their position by 3.54% to 9,129 shares. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
• Operating performance: GlobalFoundries exceeded quarterly earnings expectations with $0.46 EPS versus the $0.43 consensus estimate and $1.79 billion in revenue, up 5.8% year over year.
• Market outlook: Shares recently traded at $49, while analysts have a consensus “Hold” rating and an average price target of $74.32. The company also declared a quarterly dividend of $0.12 per share, equal to a 1.0% annualized yield.

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Samak Azar sold 335 shares of the business's stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $45.72, for a total transaction of $15,316.20. Following the sale, the insider directly owned 9,129 shares of the company's stock, valued at approximately $417,377.88. This represents a 3.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock traded up $1.95 on Friday, reaching $49.00. 4,935,209 shares of the company were exchanged, compared to its average volume of 4,284,797. GlobalFoundries Inc. has a 1-year low of $32.02 and a 1-year high of $92.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 2.48. The company's 50-day moving average is $48.99 and its two-hundred day moving average is $59.28. The firm has a market cap of $26.89 billion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 1.52 and a beta of 1.78.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. GlobalFoundries had a net margin of 10.36% and a return on equity of 6.69%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The company's quarterly 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, research analysts expect that GlobalFoundries Inc. will post 1.48 earnings per share for the current fiscal year.

GlobalFoundries Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GFS shares. Weiss Ratings reiterated a "hold (c)" rating on shares of GlobalFoundries in a research report on Wednesday, August 26th. Arete Research set a $95.00 price target on shares of GlobalFoundries in a research report on Wednesday, June 10th. Zacks Research cut GlobalFoundries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. UBS Group decreased their target price on shares of GlobalFoundries from $61.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. Finally, TD Cowen decreased their price objective on shares of GlobalFoundries from $85.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Nine 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $74.32.

Institutional Investors Weigh In On GlobalFoundries

Several large investors have recently made changes to their positions in GFS. Bessemer Group Inc. lifted its holdings in shares of GlobalFoundries by 8,275,141.2% during the 1st quarter. Bessemer Group Inc. now owns 2,813,582 shares of the company's stock valued at $125,147,000 after purchasing an additional 2,813,548 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in GlobalFoundries by 322.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 715,000 shares of the company's stock worth $31,803,000 after purchasing an additional 545,900 shares in the last quarter. Atreides Management LP acquired a new stake in GlobalFoundries in the 1st quarter valued at approximately $21,110,000. Bank of America Corp DE lifted its stake in 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 acquiring an additional 450,722 shares in the last quarter. Finally, ING Groep NV acquired a new position in GlobalFoundries during the 4th quarter worth approximately $13,854,000.

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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