GlobalFoundries (NASDAQ:GFS) Insider Samak Azar Sells 335 Shares of Company Stock

GlobalFoundries Inc. (NASDAQ:GFS) insider Samak Azar sold 335 shares of the stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $41.86, for a total transaction of $14,023.10. Following the completion of the sale, the insider owned 6,784 shares of the company’s stock, valued at approximately $283,978.24. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock traded down $1.15 during mid-day trading on Friday, hitting $41.47. 2,780,537 shares of the stock were exchanged, compared to its average volume of 5,657,166. GlobalFoundries Inc. has a 12 month low of $32.02 and a 12 month high of $92.55. The company has a 50-day simple moving average of $45.56 and a 200 day simple moving average of $54.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.87 and a current ratio of 2.58. The company has a market capitalization of $22.75 billion, a P/E ratio of 118.49, a P/E/G ratio of 1.37 and a beta of 1.78.

GlobalFoundries (NASDAQ:GFS) last released its earnings results 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 company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. GlobalFoundries had a return on equity of 7.16% and a net margin of 2.81%. GlobalFoundries’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. Sell-side analysts anticipate that GlobalFoundries Inc. will post 1.55 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. Stockholders of record on Tuesday, December 22nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.48 annualized dividend and a dividend yield of 1.2%. GlobalFoundries’s dividend payout ratio (DPR) is currently 137.14%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of GlobalFoundries by 8.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,954 shares of the company’s stock valued at $87,000 after acquiring an additional 154 shares during the period. Parallel Advisors LLC grew its stake in 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 acquiring an additional 237 shares in the last quarter. Signaturefd LLC increased its holdings in GlobalFoundries by 22.3% during the 3rd quarter. Signaturefd LLC now owns 1,370 shares of the company’s stock worth $66,000 after acquiring an additional 250 shares during the period. Commonwealth Equity Services LLC increased its holdings in GlobalFoundries by 4.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,751 shares of the company’s stock worth $276,000 after acquiring an additional 258 shares during the period. Finally, California State Teachers Retirement System increased its holdings in GlobalFoundries by 5.3% during the 1st quarter. California State Teachers Retirement System now owns 6,735 shares of the company’s stock worth $300,000 after acquiring an additional 340 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group cut their price target on shares of GlobalFoundries from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, November 4th. Deutsche Bank set a $75.00 price objective on shares of GlobalFoundries in a report on Monday, August 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of GlobalFoundries in a research report on Thursday, October 15th. Needham & Company LLC lowered their price objective on shares of GlobalFoundries from $80.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Finally, Susquehanna dropped their target price on shares of GlobalFoundries from $125.00 to $110.00 and set a “positive” rating on the stock in a research note on Thursday, November 5th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GlobalFoundries presently has an average rating of “Hold” and an average price target 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.