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

GlobalFoundries Inc. (NASDAQ:GFS) Director Ganesh Moorthy purchased 2,500 shares of the stock in a transaction dated Thursday, November 5th. The shares were acquired 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 approximately $206,140. This trade represents a 83.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GlobalFoundries Trading Up 6.2%

Shares of NASDAQ:GFS traded up $2.26 during midday trading on Friday, reaching $38.62. 5,023,286 shares of the company’s stock were exchanged, compared to its average volume of 4,480,622. The firm’s 50 day simple moving average is $45.99 and its two-hundred day simple moving average is $54.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.48 and a quick ratio of 1.74. The stock has a market cap of $21.19 billion, a price-to-earnings ratio of 110.34, a P/E/G ratio of 1.28 and a beta of 1.78. GlobalFoundries Inc. has a fifty-two week low of $32.02 and a fifty-two week high of $92.55.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. GlobalFoundries had a net margin of 2.81% and a return on equity of 7.18%. GlobalFoundries’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. As a group, sell-side analysts forecast that GlobalFoundries Inc. will post 1.48 EPS for the current fiscal year.

GlobalFoundries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Stockholders 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 dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 22nd. GlobalFoundries’s payout ratio is 137.14%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GFS. Jefferies Financial Group dropped their target price on shares of GlobalFoundries from $60.00 to $50.00 and set a “hold” rating for the company in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on GlobalFoundries from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday. Stifel Nicolaus started coverage on GlobalFoundries in a research note on Tuesday, September 1st. They set a “buy” rating and a $60.00 price target on the stock. Zacks Research lowered GlobalFoundries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Wedbush dropped their price objective on GlobalFoundries from $72.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $67.79.

Institutional Investors Weigh In On GlobalFoundries

A number of hedge funds have recently added to or reduced their stakes in GFS. Bessemer Group Inc. boosted its position in 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 buying an additional 2,813,548 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in GlobalFoundries in the 3rd quarter valued at about $40,775,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of GlobalFoundries by 322.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 715,000 shares of the company’s stock worth $31,803,000 after buying an additional 545,900 shares during the period. Atreides Management LP purchased a new stake in shares of GlobalFoundries during the first quarter worth approximately $21,110,000. Finally, Bank of America Corp DE raised its holdings 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 acquiring an additional 450,722 shares in the last quarter.

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

About GlobalFoundries

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.