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

GlobalFoundries Inc. (NASDAQ:GFS) insider Samak Azar sold 335 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $45.37, for a total value of $15,198.95. Following the sale, the insider owned 7,454 shares in the company, valued at approximately $338,187.98. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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.

GlobalFoundries Stock Down 8.6%

Shares of GFS traded down $3.95 during mid-day trading on Friday, hitting $41.90. 5,304,448 shares of the company’s stock were exchanged, compared to its average volume of 4,404,098. The company has a 50-day simple moving average of $46.58 and a 200 day simple moving average of $54.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.48 and a quick ratio of 1.74. GlobalFoundries Inc. has a 52 week low of $32.02 and a 52 week high of $92.55. The company has a market cap of $22.99 billion, a PE ratio of 32.73, a P/E/G ratio of 1.46 and a beta of 1.77.

GlobalFoundries (NASDAQ:GFS) last released its quarterly 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 company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.77 billion. GlobalFoundries had a net margin of 10.36% and a return on equity of 6.69%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. GlobalFoundries has set its Q3 2026 guidance at 0.460-0.560 EPS. On average, research analysts forecast that GlobalFoundries Inc. will post 1.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on GFS. BNP Paribas Exane cut GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 price target for the company. in a report on Monday, October 5th. Morgan Stanley reissued a “negative” rating and set a $60.00 price target on shares of GlobalFoundries in a report on Thursday, August 6th. TD Cowen reiterated a “buy” rating and issued a $75.00 price target on shares of GlobalFoundries in a research report on Thursday, October 15th. UBS Group dropped their price objective on shares of GlobalFoundries from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of GlobalFoundries in a research report on Wednesday, August 26th. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GlobalFoundries currently has an average rating of “Hold” and a consensus target price of $75.79.

Hedge Funds Weigh In On GlobalFoundries

Several large investors have recently bought and sold shares of the stock. Bessemer Group Inc. increased its stake in shares of GlobalFoundries by 8,275,141.2% in the 1st quarter. Bessemer Group Inc. now owns 2,813,582 shares of the company’s stock valued at $125,147,000 after acquiring an additional 2,813,548 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of GlobalFoundries in the 3rd quarter valued at approximately $40,775,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in GlobalFoundries by 322.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 715,000 shares of the company’s stock worth $31,803,000 after acquiring an additional 545,900 shares during the last quarter. Atreides Management LP acquired a new position in GlobalFoundries during the first quarter valued at approximately $21,110,000. Finally, Bank of America Corp DE increased its stake in GlobalFoundries by 106.1% in the first quarter. Bank of America Corp DE now owns 875,361 shares of the company’s stock valued at $38,936,000 after purchasing an additional 450,722 shares in the last quarter.

GlobalFoundries Company Profile

GlobalFoundries Inc (NASDAQ:GFS) is a semiconductor manufacturer that operates as a contract foundry, producing chips designed by other companies. The company provides wafer fabrication and related services for customers in the automotive, communications infrastructure, aerospace and defense, industrial, and consumer electronics markets.

GlobalFoundries specializes in differentiated semiconductor technologies rather than competing primarily in the most advanced logic-processing nodes. Its offerings include radio-frequency and silicon-on-insulator technologies, embedded memory, power-management solutions, high-voltage processes, silicon photonics, and other specialty platforms used in connectivity, sensing, automotive electronics, and edge-computing applications.

The company was established in 2009 through the separation of Advanced Micro Devices’ manufacturing operations, with investment from the Abu Dhabi-based Advanced Technology Investment Company.