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 dated Thursday, November 12th. The stock was sold at an average price of $41.86, for a total transaction of $14,023.10. Following the sale, the insider owned 6,784 shares in the company, valued at $283,978.24. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GlobalFoundries Price Performance

GFS stock traded down $1.15 during mid-day trading on Friday, hitting $41.47. The stock had a trading volume of 2,780,537 shares, compared to its average volume of 4,472,097. The company has a current ratio of 2.58, a quick ratio of 1.87 and a debt-to-equity ratio of 0.13. GlobalFoundries Inc. has a 52 week low of $32.02 and a 52 week high of $92.55. The firm has a market capitalization of $22.75 billion, a P/E ratio of 118.49, a P/E/G ratio of 1.38 and a beta of 1.78. The firm has a fifty day simple moving average of $45.62 and a 200 day simple moving average of $54.82.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Wednesday, November 4th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. GlobalFoundries had a net margin of 2.81% and a return on equity of 7.16%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the company earned $0.44 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, research analysts forecast that GlobalFoundries Inc. will post 1.55 EPS for the current year.

GlobalFoundries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Tuesday, December 22nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 22nd. GlobalFoundries’s dividend payout ratio (DPR) is 137.14%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of GlobalFoundries from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, November 5th. Deutsche Bank set a $75.00 target price on GlobalFoundries in a report on Monday, August 10th. Needham & Company LLC decreased their price target on GlobalFoundries from $80.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Jefferies Financial Group decreased their price target on GlobalFoundries from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, November 4th. Finally, Citigroup lowered their price target on GlobalFoundries from $58.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, November 5th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.79.

Institutional Investors Weigh In On GlobalFoundries

A number of hedge funds and other institutional investors have recently bought and sold shares of GFS. V Square Quantitative Management LLC bought a new position in GlobalFoundries in the third quarter valued at about $30,000. Parallel Advisors LLC boosted its stake in shares of GlobalFoundries by 39.8% during the first quarter. Parallel Advisors LLC now owns 832 shares of the company’s stock valued at $37,000 after purchasing an additional 237 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of GlobalFoundries during the second quarter valued at about $60,000. Signaturefd LLC grew its holdings in shares of GlobalFoundries by 22.3% during the third quarter. Signaturefd LLC now owns 1,370 shares of the company’s stock worth $66,000 after purchasing an additional 250 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in shares of GlobalFoundries during the first quarter worth about $68,000.

GlobalFoundries Company Profile

GlobalFoundries is a semiconductor foundry that manufactures integrated circuits for customers that design their own chips. Its services include wafer fabrication, process technology development, packaging support and design enablement, helping customers bring semiconductor products to market without operating their own fabrication facilities. The company focuses on specialty technologies used in areas such as automotive electronics, communications, industrial systems, smart devices and data centers.