Principal Financial Group Inc. Purchases 47,215 Shares of GlobalFoundries Inc. $GFS

Principal Financial Group Inc. increased its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 54.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 134,576 shares of the company’s stock after buying an additional 47,215 shares during the quarter. Principal Financial Group Inc.’s holdings in GlobalFoundries were worth $5,986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vident Advisory LLC grew its stake in GlobalFoundries by 5.0% in the fourth quarter. Vident Advisory LLC now owns 6,160 shares of the company’s stock valued at $215,000 after acquiring an additional 293 shares during the period. Federation des caisses Desjardins du Quebec raised its position in shares of GlobalFoundries by 9.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,575 shares of the company’s stock worth $125,000 after purchasing an additional 305 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of GlobalFoundries by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 9,744 shares of the company’s stock worth $372,000 after purchasing an additional 324 shares during the period. California State Teachers Retirement System lifted its holdings in shares of GlobalFoundries by 5.7% in the 2nd quarter. California State Teachers Retirement System now owns 6,480 shares of the company’s stock worth $248,000 after purchasing an additional 347 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of GlobalFoundries by 57.6% in the 4th quarter. Covestor Ltd now owns 955 shares of the company’s stock worth $33,000 after purchasing an additional 349 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Samak L. Azar sold 500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $74.82, for a total value of $37,410.00. Following the completion of the sale, the insider owned 15,494 shares in the company, valued at $1,159,261.08. This represents a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael James Hogan sold 2,800 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $82.88, for a total transaction of $232,064.00. Following the completion of the sale, the insider owned 9,645 shares of the company’s stock, valued at approximately $799,377.60. This represents a 22.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,080 shares of company stock worth $1,349,680 over the last ninety days.

GlobalFoundries Stock Down 0.7%

GFS stock opened at $53.18 on Tuesday. GlobalFoundries Inc. has a twelve month low of $31.51 and a twelve month high of $92.55. The company has a quick ratio of 1.87, a current ratio of 2.59 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $74.51 and its 200-day moving average is $58.33. The firm has a market capitalization of $29.18 billion, a PE ratio of 38.26, a P/E/G ratio of 1.89 and a beta of 1.76.

GlobalFoundries (NASDAQ:GFS) last announced its earnings results on Tuesday, May 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. GlobalFoundries had a return on equity of 6.85% and a net margin of 11.40%.The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. GlobalFoundries’s quarterly revenue was up 3.1% on a year-over-year basis. GlobalFoundries has set its Q2 2026 guidance at 0.250-0.350 EPS. Sell-side analysts expect that GlobalFoundries Inc. will post 1.38 EPS for the current fiscal year.

GlobalFoundries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Wednesday, June 24th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 24th. GlobalFoundries’s payout ratio is currently 34.53%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Robert W. Baird set a $100.00 price target on shares of GlobalFoundries in a research report on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of GlobalFoundries in a report on Friday, May 29th. UBS Group raised their price objective on shares of GlobalFoundries from $65.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of GlobalFoundries from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GlobalFoundries from $45.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, GlobalFoundries has a consensus rating of “Hold” and a consensus target price of $74.62.

GlobalFoundries 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.