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

Key Points

• GlobalFoundries insider Samak Azar sold 335 shares at an average price of $48.38, totaling $16,207.30. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving Azar with 10,804 shares.
• Shares fell 3.8% to $46.22, despite the company beating quarterly earnings and revenue estimates with EPS of $0.46 and revenue of $1.79 billion. Revenue increased 5.8% year over year.
• GlobalFoundries declared a quarterly dividend of $0.12 per share, representing a 1.0% yield, while analysts maintained a consensus “Hold” rating and an average price target of $75.11.

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Samak Azar sold 335 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $48.38, for a total transaction of $16,207.30. Following the completion of the sale, the insider directly owned 10,804 shares in the company, valued at $522,697.52. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GlobalFoundries Stock Down 3.8%

NASDAQ GFS traded down $1.83 during trading hours on Monday, reaching $46.22. 2,121,175 shares of the company's stock traded hands, compared to its average volume of 4,295,399. GlobalFoundries Inc. has a 52-week low of $31.59 and a 52-week high of $92.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.48 and a quick ratio of 1.74. The firm has a 50-day simple moving average of $63.28 and a 200 day simple moving average of $59.40. The firm has a market cap of $25.36 billion, a PE ratio of 36.11, a PEG ratio of 1.21 and a beta of 1.80.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.77 billion. GlobalFoundries had a net margin of 10.36% and a return on equity of 6.69%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. GlobalFoundries has set its Q3 2026 guidance at 0.460-0.560 EPS. Sell-side analysts anticipate that GlobalFoundries Inc. will post 1.48 EPS for the current fiscal year.

GlobalFoundries Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $75.00 price target on GlobalFoundries in a research report on Monday, August 10th. Cantor Fitzgerald upgraded shares of GlobalFoundries from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $50.00 to $80.00 in a research note on Monday, May 4th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $70.00 target price on shares of GlobalFoundries in a research note on Tuesday, May 5th. Evercore reiterated an "outperform" rating and set a $85.00 price target on shares of GlobalFoundries in a report on Tuesday, May 19th. Finally, TD Cowen reduced their price target on shares of GlobalFoundries from $85.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, GlobalFoundries currently has an average rating of "Hold" and a consensus target price of $75.11.

Hedge Funds Weigh In On GlobalFoundries

A number of hedge funds have recently bought and sold shares of GFS. California State Teachers Retirement System boosted its holdings in shares of GlobalFoundries by 2,079.2% during the 2nd quarter. California State Teachers Retirement System now owns 146,772 shares of the company's stock valued at $12,095,000 after acquiring an additional 140,037 shares during the last quarter. Greenland Capital Management LP bought a new position in GlobalFoundries during the second quarter valued at approximately $683,000. HB Wealth Management LLC boosted its holdings in GlobalFoundries by 7.0% in the second quarter. HB Wealth Management LLC now owns 5,472 shares of the company's stock worth $451,000 after purchasing an additional 358 shares during the last quarter. Meadowbrook Wealth Management LLC bought a new stake in GlobalFoundries in the 2nd quarter worth approximately $488,000. Finally, TD Waterhouse Canada Inc. bought a new stake in GlobalFoundries in the 2nd quarter worth approximately $3,461,000.

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.

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