GlobalFoundries (NASDAQ:GFS) Shares Gap Down After Insider Selling

Shares of GlobalFoundries Inc. (NASDAQ:GFS) gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $86.12, but opened at $81.69. GlobalFoundries shares last traded at $79.9450, with a volume of 692,717 shares trading hands.

Specifically, insider Michael James Hogan sold 2,800 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $83.53, for a total value of $233,884.00. Following the sale, the insider directly owned 3,745 shares of the company’s stock, valued at approximately $312,819.85. The trade was a 42.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samak L. Azar sold 335 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $83.35, for a total transaction of $27,922.25. Following the completion of the transaction, the insider owned 13,819 shares in the company, valued at approximately $1,151,813.65. This represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GFS shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GlobalFoundries in a research report on Friday, May 29th. Loop Capital set a $80.00 price objective on shares of GlobalFoundries in a research report on Monday, May 4th. The Goldman Sachs Group reissued a “neutral” rating and set a $70.00 price target on shares of GlobalFoundries in a report on Tuesday, May 5th. Robert W. Baird set a $100.00 target price on GlobalFoundries in a research report on Wednesday, May 6th. Finally, Evercore restated an “outperform” rating and set a $85.00 target price on shares of GlobalFoundries in a research report on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, GlobalFoundries currently has an average rating of “Hold” and an average target price of $73.29.

GlobalFoundries Stock Performance

The business has a 50-day simple moving average of $74.83 and a 200 day simple moving average of $54.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.59 and a quick ratio of 1.87. The firm has a market cap of $43.85 billion, a PE ratio of 57.49, a PEG ratio of 2.82 and a beta of 1.77.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. GlobalFoundries had a return on equity of 6.85% and a net margin of 11.40%.The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. GlobalFoundries has set its Q2 2026 guidance at 0.250-0.350 EPS. Equities research analysts forecast that GlobalFoundries Inc. will post 1.38 EPS for the current year.

GlobalFoundries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Wednesday, June 24th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, June 24th. GlobalFoundries’s dividend payout ratio is presently 34.53%.

Institutional Trading of GlobalFoundries

A number of hedge funds and other institutional investors have recently modified their holdings of GFS. PNC Financial Services Group Inc. raised its position in shares of GlobalFoundries by 8.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,954 shares of the company’s stock valued at $87,000 after purchasing an additional 154 shares during the period. Parallel Advisors LLC increased its stake 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 in the last quarter. Vident Advisory LLC increased its stake in GlobalFoundries by 5.0% in the 4th quarter. Vident Advisory LLC now owns 6,160 shares of the company’s stock worth $215,000 after buying an additional 293 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in GlobalFoundries by 9.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,575 shares of the company’s stock valued at $125,000 after acquiring an additional 305 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in GlobalFoundries by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 9,744 shares of the company’s stock valued at $372,000 after acquiring an additional 324 shares during the period.

GlobalFoundries Company Profile

GlobalFoundries, Inc (NASDAQ: GFS) is a leading contract semiconductor manufacturer that provides wafer fabrication and related services to semiconductor companies and systems manufacturers. The company operates as a pure-play foundry, producing integrated circuits across a range of process technologies for customers in markets such as automotive, communications, consumer electronics, industrial, and aerospace. Its service offering spans process development, manufacturing, test and packaging support, and design enablement including process design kits (PDKs) and intellectual property (IP) libraries to help customers bring designs to production.

GlobalFoundries focuses on a portfolio of differentiated and specialty process nodes, offering technologies for radio-frequency (RF) and wireless, analog and mixed-signal, power management, embedded non-volatile memory, and silicon-on-insulator (SOI) process families.