GlobalFoundries (NASDAQ:GFS) Director Jack Lazar Acquires 10,000 Shares of Company Stock

GlobalFoundries Inc. (NASDAQ:GFS) Director Jack Lazar purchased 10,000 shares of the company’s stock in a transaction on Friday, November 6th. The shares were purchased at an average price of $38.00 per share, with a total value of $380,000.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

GlobalFoundries Trading Up 4.9%

Shares of GlobalFoundries stock traded up $1.89 during trading hours on Monday, reaching $40.51. The stock had a trading volume of 4,320,676 shares, compared to its average volume of 4,479,912. The firm has a market capitalization of $22.23 billion, a price-to-earnings ratio of 115.74, a P/E/G ratio of 1.27 and a beta of 1.78. GlobalFoundries Inc. has a 1 year low of $32.02 and a 1 year high of $92.55. The company has a current ratio of 2.58, a quick ratio of 1.87 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $45.84 and a two-hundred day simple moving average of $54.88.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. GlobalFoundries had a return on equity of 7.16% and a net margin of 2.81%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, equities research analysts anticipate that GlobalFoundries Inc. will post 1.50 earnings per share for the current year.

GlobalFoundries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Tuesday, December 22nd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 22nd. GlobalFoundries’s payout ratio is 137.14%.

Hedge Funds Weigh In On GlobalFoundries

A number of institutional investors and hedge funds have recently bought and sold shares of GFS. Bessemer Group Inc. grew its position in GlobalFoundries by 6.7% in the third quarter. Bessemer Group Inc. now owns 3,008,202 shares of the company’s stock valued at $144,153,000 after acquiring an additional 188,344 shares in the last quarter. Phoenix Financial Ltd. raised its stake in shares of GlobalFoundries by 42.3% during the third quarter. Phoenix Financial Ltd. now owns 1,868,297 shares of the company’s stock valued at $89,753,000 after purchasing an additional 555,195 shares during the period. Diversified Trust Co raised its stake in shares of GlobalFoundries by 12.0% during the third quarter. Diversified Trust Co now owns 10,323 shares of the company’s stock valued at $495,000 after purchasing an additional 1,105 shares during the period. Aberdeen Group plc lifted its position in shares of GlobalFoundries by 2,795.1% during the third quarter. Aberdeen Group plc now owns 85,956 shares of the company’s stock worth $4,119,000 after purchasing an additional 82,987 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of GlobalFoundries during the third quarter worth $354,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen decreased their price objective on shares of GlobalFoundries from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on shares of GlobalFoundries in a research report on Monday, August 10th. Jefferies Financial Group cut their target price on shares of GlobalFoundries from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday. Stifel Nicolaus initiated coverage on shares of GlobalFoundries in a report on Tuesday, September 1st. They set a “buy” rating and a $60.00 target price on the stock. Finally, Wedbush decreased their price target on shares of GlobalFoundries from $72.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.79.

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.