GlobalFoundries Inc. $GFS Stock: Sumitomo Mitsui Trust Group Inc. Lowers Position

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 30.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 41,515 shares of the company’s stock after selling 18,172 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in GlobalFoundries were worth $1,989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GFS. Bessemer Group Inc. raised its stake in GlobalFoundries by 8,275,141.2% during the first quarter. Bessemer Group Inc. now owns 2,813,582 shares of the company’s stock worth $125,147,000 after purchasing an additional 2,813,548 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of GlobalFoundries by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,340,385 shares of the company’s stock valued at $59,571,000 after buying an additional 31,590 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of GlobalFoundries during the 3rd quarter worth $40,775,000. Bank of America Corp DE increased its holdings in shares of GlobalFoundries by 106.1% during the 1st quarter. Bank of America Corp DE now owns 875,361 shares of the company’s stock worth $38,936,000 after buying an additional 450,722 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of GlobalFoundries by 322.8% during the 1st 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 last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup reduced their target price on GlobalFoundries from $58.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday. BNP Paribas Exane lowered GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 price target for the company. in a research note on Monday, October 5th. Morgan Stanley dropped their price target 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. Jefferies Financial Group cut their price objective on GlobalFoundries from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Susquehanna reduced their price objective on GlobalFoundries from $125.00 to $110.00 and set a “positive” rating on the stock in a research note on Thursday. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GlobalFoundries has a consensus rating of “Hold” and an average price target of $67.79.

More GlobalFoundries News

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

GlobalFoundries Stock Performance

Shares of GFS stock opened at $38.62 on Friday. The company’s fifty day simple moving average is $45.84 and its 200-day simple moving average is $54.88. GlobalFoundries Inc. has a 52 week low of $32.02 and a 52 week high of $92.55. The company has a current ratio of 2.58, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13. The company has a market cap of $21.19 billion, a PE ratio of 110.34, a P/E/G ratio of 1.27 and a beta of 1.78.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts anticipate that GlobalFoundries Inc. will post 1.50 EPS for the current year.

GlobalFoundries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Tuesday, December 22nd will be issued 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 is Tuesday, December 22nd. GlobalFoundries’s dividend payout ratio (DPR) is presently 137.14%.

Insider Activity

In related news, insider Pradheepa Raman sold 2,145 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $48.83, for a total transaction of $104,740.35. Following the transaction, the insider directly owned 2,145 shares of the company’s stock, valued at approximately $104,740.35. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ganesh Moorthy purchased 2,500 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was bought at an average price of $37.48 per share, with a total value of $93,700.00. Following the acquisition, the director owned 5,500 shares in the company, valued at $206,140. This trade represents a 83.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 12,925 shares of company stock worth $633,881.

About GlobalFoundries

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.