Globalfoundries chief legal officer disposes of $14,485 in shares

On September 3, 2026, Samak L. Azar, the Chief Legal Officer at GlobalFoundries Inc. (NASDAQ: GFS), sold 335 of the company's ordinary shares for a total of $14,485. This transaction was executed in accordance with a Rule 10b5-1 trading plan that Mr. Azar had previously established. At the time of the sale, he owned a total of 10,134 ordinary shares in GlobalFoundries.

Despite the stock currently trading at $45.22, which is higher than the $43.24 sale price, InvestingPro analysis indicates the shares are still considered undervalued, with a Fair Value of $47.16. This reduces the total value of the shares Mr. Azar disposed of to $14,485.

Following this sale, Mr. Azar's ownership of GlobalFoundries' shares decreased but still amounted to a significant stake of 10,134 ordinary shares. Analysts at InvestingPro have noted that while the stock has underperformed over the past month, nine analysts have recently revised their earnings forecasts upwards for the upcoming period, suggesting a potential for future growth.

In other news, GlobalFoundries reported impressive second-quarter results that surpassed Wall Street's expectations. The company posted adjusted earnings per share of $0.46 and revenue of $1.79 billion, both exceeding analysts' forecasts of $0.43 per share and $1.76 billion, respectively. The strong demand in the communications infrastructure and data center markets has led to a revision of GlobalFoundries' full-year growth outlook for these sectors, now projected to range between 50% and 60%.

The company's gross margin has expanded to 29.9%, and management now anticipates a full-year 2026 growth rate of approximately 30%.

Investors now have greater confidence in GlobalFoundries, with Stifel initiating coverage of the company with a Buy rating and a price target of $60. This rating is based on the company's long-term targets, including a 10-12% compound annual revenue growth rate and a 40% gross margin by 2028. On the other hand, UBS has lowered its price target for GlobalFoundries to $55 from $61, maintaining a Neutral rating, in response to the company's revised outlook for mobile phone demand, which now forecasts a low-double-digit decline rather than a high-single-digit decline.

These developments illustrate the diverse perspectives among analysts regarding GlobalFoundries' future trajectory, providing investors with a range of potential outcomes to consider. This report was generated with the assistance of AI and has been reviewed by an editor to ensure accuracy and clarity.