Insider Selling: GlobalFoundries (NASDAQ:GFS) Insider Sells 335 Shares of Stock

Key Points

• Insider sale: GlobalFoundries insider Samak Azar sold 335 shares on May 21 at an average price of $77.99, worth about $26,127. After the transaction, he still held 15,159 shares, and the sale was made under a pre-arranged Rule 10b5-1 plan.
• Stock and fundamentals: GFS shares were up 5.4% in midday trading to $90.26, near their 52-week high of $91.23. The company reported Q1 EPS of $0.40, topping estimates, on revenue of $1.63 billion, and it issued Q2 guidance of $0.25 to $0.35 EPS.
• Dividend and analyst view: GlobalFoundries declared a quarterly dividend of $0.12 per share, payable July 14, for an annualized yield of about 0.5%. Wall Street currently has a consensus rating of Hold with an average price target of $69.88.

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Samak Azar sold 335 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $77.99, for a total value of $26,126.65. Following the transaction, the insider directly owned 15,159 shares in the company, valued at approximately $1,182,250.41. This represents a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GlobalFoundries Stock Up 5.4%

Shares of GFS traded up $4.62 during midday trading on Tuesday, reaching $90.26. 4,871,149 shares of the stock were exchanged, compared to its average volume of 4,243,430. GlobalFoundries Inc. has a 52 week low of $31.51 and a 52 week high of $91.23. The company has a current ratio of 2.59, a quick ratio of 1.87 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $56.98 and its two-hundred day moving average is $46.24. The company has a market capitalization of $50.22 billion, a P/E ratio of 64.94, a PEG ratio of 3.03 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. GlobalFoundries had a return on equity of 6.85% and a net margin of 11.40%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $0.34 EPS. 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. On average, sell-side analysts anticipate that GlobalFoundries Inc. will post 1.38 earnings per share for the current year.

GlobalFoundries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Wednesday, June 24th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, June 24th.

Institutional Investors Weigh In On GlobalFoundries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in GlobalFoundries by 8.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,954 shares of the company's stock valued at $87,000 after buying an additional 154 shares during the last quarter. Parallel Advisors LLC raised its stake in GlobalFoundries by 39.8% in the first quarter. Parallel Advisors LLC now owns 832 shares of the company's stock valued at $37,000 after buying an additional 237 shares during the last quarter. Vident Advisory LLC raised its stake in GlobalFoundries by 5.0% in the fourth quarter. Vident Advisory LLC now owns 6,160 shares of the company's stock valued at $215,000 after buying an additional 293 shares during the last quarter. Profund Advisors LLC raised its stake in GlobalFoundries by 0.7% in the third quarter. Profund Advisors LLC now owns 45,349 shares of the company's stock valued at $1,625,000 after buying an additional 299 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec raised its stake 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 buying an additional 305 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup upped their price objective on GlobalFoundries from $49.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Needham & Company LLC upped their price objective on GlobalFoundries from $55.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded GlobalFoundries from a "sell (d)" rating to a "hold (c)" rating in a research note on Monday, March 2nd. Dbs Bank cut GlobalFoundries from a "moderate buy" rating to a "hold" rating in a research note on Friday, February 13th. Finally, Evercore restated an "outperform" rating and set a $85.00 price objective on shares of GlobalFoundries in a research note on Tuesday, May 19th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.