Samak Azar Sells 500 Shares of GlobalFoundries (NASDAQ:GFS) Stock

Key Points

• GlobalFoundries insider Samak Azar sold 500 shares on May 7 at an average price of $72.19, totaling about $36,095. After the trade, Azar still held 15,994 shares, and the sale was made under a pre-arranged Rule 10b5-1 plan.
• The company’s latest earnings beat expectations, with Q1 EPS of $0.40 versus the $0.35 consensus. Revenue came in at $1.63 billion, up 3.1% from a year earlier, and GlobalFoundries issued Q2 guidance of $0.25 to $0.35 EPS.
• GlobalFoundries also declared a quarterly dividend of $0.12 per share, payable July 14 to shareholders of record on June 24. That works out to an annualized dividend of $0.48 and a yield of about 0.6%.

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Samak Azar sold 500 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $72.19, for a total transaction of $36,095.00. Following the sale, the insider directly owned 15,994 shares of the company's stock, valued at approximately $1,154,606.86. The trade was a 3.03% decrease in their position. The sale was disclosed in a document filed 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 GFS stock traded up $0.67 during mid-day trading on Monday, reaching $74.79. 2,395,919 shares of the company's stock traded hands, compared to its average volume of 4,141,046. GlobalFoundries Inc. has a 12 month low of $31.51 and a 12 month high of $76.98. The firm has a 50 day moving average price of $50.25 and a two-hundred day moving average price of $42.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.87 and a current ratio of 2.59. The firm has a market capitalization of $41.62 billion, a PE ratio of 53.84, a price-to-earnings-growth ratio of 2.90 and a beta of 1.71.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The company's revenue for the quarter 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, research analysts forecast that GlobalFoundries Inc. will post 1.38 EPS for the current year.

GlobalFoundries Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, June 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group restated a "hold" rating and set a $65.00 target price on shares of GlobalFoundries in a research note on Wednesday, May 6th. Susquehanna reiterated a "positive" rating and issued a $125.00 price target on shares of GlobalFoundries in a research note on Monday. TD Cowen reiterated a "buy" rating on shares of GlobalFoundries in a research note on Thursday, February 12th. Dbs Bank cut shares of GlobalFoundries from a "moderate buy" rating to a "hold" rating in a research note on Friday, February 13th. Finally, UBS Group boosted their price target on shares of GlobalFoundries from $65.00 to $77.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Eight equities research 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, the stock presently has an average rating of "Hold" and a consensus target price of $67.53.

Institutional Trading of GlobalFoundries

Several hedge funds have recently made changes to their positions in GFS. Invesco Ltd. grew its holdings in GlobalFoundries by 7.9% during the 3rd quarter. Invesco Ltd. now owns 2,962,385 shares of the company's stock valued at $106,172,000 after purchasing an additional 217,866 shares during the last quarter. AQR Capital Management LLC grew its holdings in GlobalFoundries by 9.9% during the 4th quarter. AQR Capital Management LLC now owns 2,865,046 shares of the company's stock valued at $100,047,000 after purchasing an additional 257,254 shares during the last quarter. Bessemer Group Inc. grew its holdings in 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 during the last quarter. First Trust Advisors LP grew its holdings in GlobalFoundries by 15.2% during the 3rd quarter. First Trust Advisors LP now owns 2,659,454 shares of the company's stock valued at $95,315,000 after purchasing an additional 350,743 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in GlobalFoundries by 126.0% during the 4th quarter. Marshall Wace LLP now owns 2,382,003 shares of the company's stock valued at $83,180,000 after purchasing an additional 1,328,129 shares during the last quarter.

GlobalFoundries Company Profile

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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