GlobalFoundries (NASDAQ:GFS) Shares Up 6% – Here’s What Happened

GlobalFoundries Inc. (NASDAQ:GFS) was up 6% during mid-day trading on Thursday. The company traded as high as $49.93 and last traded at $50.9760. Approximately 2,139,826 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 4,216,139 shares. The stock had previously closed at $48.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GFS shares. Zacks Research downgraded shares of GlobalFoundries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $75.00 target price on GlobalFoundries in a research note on Monday, August 10th. Stifel Nicolaus initiated coverage on shares of GlobalFoundries in a research note on Tuesday, September 1st. They issued a “buy” rating and a $60.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GlobalFoundries in a research note on Wednesday, August 26th. Finally, BNP Paribas Exane cut GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 target price on the stock. in a report on Monday. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, GlobalFoundries has an average rating of “Hold” and a consensus price target of $74.63.

GlobalFoundries Price Performance

The company has a market capitalization of $27.55 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.77. The business has a 50-day moving average price of $47.88 and a two-hundred day moving average price of $59.57. The company has a quick ratio of 1.74, a current ratio of 2.48 and a debt-to-equity ratio of 0.13.

GlobalFoundries (NASDAQ:GFS) last posted its 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. The company 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 firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. GlobalFoundries has set its Q3 2026 guidance at 0.460-0.560 EPS. As a group, research analysts anticipate that GlobalFoundries Inc. will post 1.48 EPS for the current year.

GlobalFoundries Announces Dividend

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

Insider Activity

In other GlobalFoundries news, Director Glenda Dorchak sold 4,000 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $58.22, for a total value of $232,880.00. Following the completion of the transaction, the director owned 14,867 shares in the company, valued at $865,556.74. This represents a 21.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pradheepa Raman sold 6,760 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $51.12, for a total transaction of $345,571.20. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,255 shares of company stock worth $842,668.

Institutional Trading of GlobalFoundries

Large investors have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in GlobalFoundries in the 2nd quarter worth about $60,000. Parallel Advisors LLC boosted its holdings in GlobalFoundries by 39.8% in the 1st quarter. Parallel Advisors LLC now owns 832 shares of the company’s stock worth $37,000 after buying an additional 237 shares during the period. Strategic Advocates LLC boosted its holdings in GlobalFoundries by 95.1% in the 4th quarter. Strategic Advocates LLC now owns 1,026 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the period. Global Assets Advisory LLC purchased a new position in GlobalFoundries in the 1st quarter valued at approximately $53,000. Finally, Western Wealth Management LLC purchased a new position in GlobalFoundries in the 1st quarter valued at approximately $68,000.

About GlobalFoundries

GlobalFoundries Inc is a semiconductor contract manufacturer that produces chips for customers without owning their own fabrication facilities. The company operates as a pure-play foundry, manufacturing semiconductors based on customers’ designs and supporting them through process development, wafer fabrication, packaging, and related services.

Its technology portfolio focuses on specialized semiconductor platforms rather than the most advanced leading-edge logic nodes. Products and services include radio-frequency technologies, analog and mixed-signal solutions, power management, embedded memory, silicon photonics, and automotive and industrial semiconductor platforms.