GlobalFoundries (NASDAQ:GFS) Director Ganesh Moorthy Purchases 2,500 Shares of Stock

GlobalFoundries Inc. (NASDAQ:GFS) Director Ganesh Moorthy purchased 2,500 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average price of $37.48 per share, with a total value of $93,700.00. Following the completion of the acquisition, the director owned 5,500 shares in the company, valued at $206,140. This represents a 83.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

GlobalFoundries Stock Up 6.2%

NASDAQ:GFS traded up $2.26 during mid-day trading on Friday, hitting $38.62. The company had a trading volume of 5,023,286 shares, compared to its average volume of 5,924,218. The business has a fifty day simple moving average of $45.84 and a 200-day simple moving average of $54.88. The company has a current ratio of 2.48, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13. GlobalFoundries Inc. has a 1 year low of $32.02 and a 1 year high of $92.55. The firm has a market capitalization of $21.19 billion, a price-to-earnings ratio of 110.34, a PEG ratio of 1.33 and a beta of 1.78.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Wednesday, November 4th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. GlobalFoundries had a return on equity of 6.69% and a net margin of 10.36%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm earned $0.44 EPS. The business’s revenue was up 12.5% on a year-over-year basis. Equities analysts forecast that GlobalFoundries Inc. will post 1.50 earnings per share for the current fiscal year.

GlobalFoundries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Tuesday, December 22nd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 22nd. GlobalFoundries’s dividend payout ratio is presently 137.14%.

GlobalFoundries News Roundup

Here are the key news stories impacting GlobalFoundries this week:

• Positive Sentiment: A Seeking Alpha article highlights improving margins and commitments that could support future growth. Another report points to a record third-quarter margin, suggesting operational progress. Margins Improve As GlobalFoundries Secures Commitments For Future Growth GlobalFoundries stock: Company posts record Q3 margin
• Positive Sentiment: TD Cowen cut its target to $60 from $75 but kept a Buy rating, while Susquehanna lowered its target to $110 from $125 and retained a positive rating. TD Cowen price-target update Susquehanna price-target update
• Neutral Sentiment: UBS, JPMorgan, and Citi lowered their targets to $43, $50, and $46, respectively, and maintained Neutral ratings. Their targets still imply potential upside from the cited $38.62 share price, but the cuts signal reduced expectations. UBS rating update JPMorgan rating update Citi rating update
• Negative Sentiment: Wedbush made a particularly steep reduction, cutting its target to $45 from $72 and citing a lower valuation multiple. The broader wave of target cuts—including reductions from Citi, JPMorgan, UBS, and TD Cowen—could reinforce concerns about GFS’s near-term valuation and outlook. Wedbush cuts GlobalFoundries price target

Analysts Set New Price Targets

Several analysts have recently issued reports on GFS shares. Jefferies Financial Group decreased their price target on GlobalFoundries from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on GlobalFoundries in a research note on Monday, August 10th. JPMorgan Chase & Co. reduced their target price on GlobalFoundries from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup decreased their target price on GlobalFoundries from $58.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Robert W. Baird set a $140.00 price target on GlobalFoundries in a report on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.79.

Hedge Funds Weigh In On GlobalFoundries

Several hedge funds and other institutional investors have recently modified their holdings of GFS. V Square Quantitative Management LLC bought a new stake in GlobalFoundries in the 3rd quarter valued at approximately $30,000. Parallel Advisors LLC increased its holdings in GlobalFoundries by 39.8% during the first quarter. Parallel Advisors LLC now owns 832 shares of the company’s stock worth $37,000 after buying an additional 237 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of GlobalFoundries during the 1st quarter worth about $53,000. FNY Investment Advisers LLC acquired a new position in GlobalFoundries during the second quarter worth approximately $60,000. Finally, Signaturefd LLC raised its stake in GlobalFoundries by 22.3% in the third quarter. Signaturefd LLC now owns 1,370 shares of the company’s stock valued at $66,000 after buying an additional 250 shares during the period.

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.