CIBC Asset Management Inc Sells 93,944 Shares of GlobalFoundries Inc. $GFS

CIBC Asset Management Inc lowered its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 84.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,087 shares of the company’s stock after selling 93,944 shares during the quarter. CIBC Asset Management Inc’s holdings in GlobalFoundries were worth $597,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in GlobalFoundries by 72.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,208,828 shares of the company’s stock valued at $42,212,000 after purchasing an additional 508,046 shares during the period. AXQ Capital LP grew its position in GlobalFoundries by 438.9% in the 4th quarter. AXQ Capital LP now owns 49,617 shares of the company’s stock valued at $1,733,000 after purchasing an additional 40,410 shares during the period. Monaco Asset Management SAM acquired a new stake in GlobalFoundries in the 4th quarter valued at $6,984,000. Norges Bank acquired a new stake in GlobalFoundries in the 4th quarter valued at $5,225,000. Finally, Eaton Financial Holdings Company LLC grew its position in GlobalFoundries by 16.2% in the 4th quarter. Eaton Financial Holdings Company LLC now owns 61,963 shares of the company’s stock valued at $2,164,000 after purchasing an additional 8,628 shares during the period.

Analyst Upgrades and Downgrades

GFS has been the subject of several research reports. Cantor Fitzgerald raised shares of GlobalFoundries from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $50.00 to $80.00 in a research report on Monday, May 4th. Citigroup lifted their price target on shares of GlobalFoundries from $49.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Wedbush reissued a “neutral” rating and issued a $50.00 price target on shares of GlobalFoundries in a research report on Monday, May 4th. Robert W. Baird set a $100.00 price target on shares of GlobalFoundries in a research report on Wednesday, May 6th. Finally, Loop Capital set a $80.00 price target on shares of GlobalFoundries in a research report on Monday, May 4th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $69.88.

Insiders Place Their Bets

In other GlobalFoundries news, insider Samak L. Azar sold 500 shares of GlobalFoundries stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $59.66, for a total transaction of $29,830.00. Following the transaction, the insider directly owned 16,994 shares of the company’s stock, valued at $1,013,862.04. The trade was a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael James Hogan sold 2,800 shares of GlobalFoundries stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $82.88, for a total value of $232,064.00. Following the sale, the insider owned 9,645 shares in the company, valued at $799,377.60. The trade was a 22.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,505 shares of company stock valued at $1,222,334 in the last three months.

GlobalFoundries Price Performance

GFS opened at $75.26 on Wednesday. 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 company has a market capitalization of $41.88 billion, a price-to-earnings ratio of 54.14, a P/E/G ratio of 2.73 and a beta of 1.77. The firm’s fifty day moving average price is $65.23 and its two-hundred day moving average price is $49.92. GlobalFoundries Inc. has a 1 year low of $31.51 and a 1 year high of $92.55.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. GlobalFoundries had a net margin of 11.40% and a return on equity of 6.85%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. 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. As a group, analysts anticipate that GlobalFoundries Inc. will post 1.38 earnings per share for the current fiscal year.

GlobalFoundries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, June 24th.

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.