GlobalFoundries (NASDAQ:GFS) Stock: Insider Jack Lazar Purchases 10,000 Shares

GlobalFoundries Inc. (NASDAQ:GFS) Director Jack Lazar purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average cost of $38.00 per share, with a total value of $380,000.00. Following the completion of the acquisition, the director directly owned 38,094 shares of the company’s stock, valued at $1,447,572. The trade was a 35.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

GlobalFoundries Stock Up 0.3%

Shares of NASDAQ GFS opened at $40.62 on Wednesday. GlobalFoundries Inc. has a 12-month low of $32.02 and a 12-month high of $92.55. The firm’s 50-day simple moving average is $45.67 and its 200 day simple moving average is $54.83. The company has a quick ratio of 1.87, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The company has a market cap of $22.29 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 1.35 and a beta of 1.78.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.53 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the company posted $0.44 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, research analysts expect that GlobalFoundries Inc. will post 1.50 earnings per share 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 22nd. GlobalFoundries’s dividend payout ratio is 137.14%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of GlobalFoundries during the 3rd quarter worth approximately $30,000. Parallel Advisors LLC raised 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 worth $37,000 after buying an additional 237 shares during the last quarter. Global Assets Advisory LLC acquired a new position in GlobalFoundries in the first quarter valued at approximately $53,000. FNY Investment Advisers LLC acquired a new position in GlobalFoundries in the second quarter valued at approximately $60,000. Finally, Signaturefd LLC lifted its holdings 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.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of GlobalFoundries in a report on Thursday, October 15th. Citigroup reduced their price objective on GlobalFoundries from $58.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, November 5th. Susquehanna decreased their price objective on GlobalFoundries from $125.00 to $110.00 and set a “positive” rating on the stock in a research report on Thursday, November 5th. Morgan Stanley lowered their target price on GlobalFoundries from $60.00 to $56.00 and set an “equal weight” rating for the company in a research note on Monday, November 2nd. Finally, Weiss Ratings cut GlobalFoundries from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.79.

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.