Insider Selling: GlobalFoundries (NASDAQ:GFS) Insider Sells 2,800 Shares of Stock

Key Points

• GlobalFoundries insider Michael James Hogan sold 2,800 shares on May 27 at an average price of $82.88, totaling $232,064. The sale reduced his direct holdings by 22.5% and was made under a pre-arranged Rule 10b5-1 plan.
• The stock was trading down about 1.5% at $79.40, with a market cap of $44.18 billion. GlobalFoundries has ranged between $31.51 and $92.55 over the past year.
• GlobalFoundries recently beat earnings expectations, reporting $0.40 EPS versus $0.35 expected, while revenue came in at $1.63 billion. The company also announced a quarterly dividend of $0.12 per share, payable on July 14.

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Michael James Hogan sold 2,800 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $82.88, for a total transaction of $232,064.00. Following the completion of the sale, the insider directly owned 9,645 shares in the company, valued at approximately $799,377.60. This trade represents a 22.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael James Hogan also recently made the following trade(s):

• On Tuesday, May 5th, Michael James Hogan sold 500 shares of GlobalFoundries stock. The stock was sold at an average price of $70.00, for a total transaction of $35,000.00.
• On Wednesday, April 29th, Michael James Hogan sold 2,300 shares of GlobalFoundries stock. The shares were sold at an average price of $60.69, for a total transaction of $139,587.00.
• On Monday, April 20th, Michael James Hogan sold 500 shares of GlobalFoundries stock. The shares were sold at an average price of $60.00, for a total transaction of $30,000.00.
• On Wednesday, April 15th, Michael James Hogan sold 1,800 shares of GlobalFoundries stock. The stock was sold at an average price of $48.31, for a total transaction of $86,958.00.
• On Wednesday, April 1st, Michael James Hogan sold 1,800 shares of GlobalFoundries stock. The stock was sold at an average price of $45.04, for a total transaction of $81,072.00.
• On Wednesday, March 18th, Michael James Hogan sold 1,800 shares of GlobalFoundries stock. The stock was sold at an average price of $43.25, for a total transaction of $77,850.00.

GlobalFoundries Stock Down 1.5%

GlobalFoundries stock traded down $1.23 during trading hours on Friday, hitting $79.40. The stock had a trading volume of 3,320,714 shares, compared to its average volume of 4,522,777. 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 capitalization of $44.18 billion, a P/E ratio of 57.23, a price-to-earnings-growth ratio of 2.87 and a beta of 1.71. GlobalFoundries Inc. has a 12-month low of $31.51 and a 12-month high of $92.55. The stock's 50-day moving average price is $59.43 and its 200-day moving average price is $47.28.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.63 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The firm's quarterly revenue was up 3.1% on a year-over-year basis. 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 fiscal year.

GlobalFoundries Dividend Announcement

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

Hedge Funds Weigh In On GlobalFoundries

A number of hedge funds have recently modified their holdings of the company. Boothe Investment Group Inc. boosted its position in shares of GlobalFoundries by 1.4% during the first quarter. Boothe Investment Group Inc. now owns 77,458 shares of the company's stock worth $3,445,000 after acquiring an additional 1,092 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of GlobalFoundries during the first quarter worth $68,000. Bank of America Corp DE boosted its position in shares of GlobalFoundries by 106.1% during the first 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 during the last quarter. Janus Henderson Group PLC bought a new position in GlobalFoundries during the first quarter valued at $1,108,000. Finally, Bull Harbor Capital LLC bought a new position in GlobalFoundries during the first quarter valued at $430,000.

Analyst Ratings Changes

GFS has been the subject of several research reports. Weiss Ratings raised shares of GlobalFoundries from a "sell (d)" rating to a "hold (c)" rating in a report on Monday, March 2nd. Loop Capital set a $80.00 target price on shares of GlobalFoundries in a report on Monday, May 4th. Zacks Research raised shares of GlobalFoundries from a "strong sell" rating to a "hold" rating in a report on Friday, January 30th. Dbs Bank cut shares of GlobalFoundries from a "moderate buy" rating to a "hold" rating in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of GlobalFoundries from $45.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, GlobalFoundries currently has an average rating of "Hold" and an average price target of $69.88.

About GlobalFoundries

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.