GlobalFoundries chief legal officer Samak Azar sells $15,497 in shares

Samak L. Azar, Chief Legal Officer at GLOBALFOUNDRIES Inc. (NASDAQ:GFS), sold 335 ordinary shares of the company’s stock on October 22, 2026, for a total value of $15,497.

The shares were sold at a price of $46.26 each, above the current trading price of $44.39. Following this transaction, Mr. Azar directly holds 7,789 ordinary shares of GLOBALFOUNDRIES. The stock has declined 28% over the past six months, though it remains up 26% year-to-date. According to InvestingPro analysis, the stock appears undervalued at current levels, placing it among opportunities on the most undervalued stocks list. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. For deeper insights into GFS’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities on InvestingPro.

In other recent news, GlobalFoundries Inc. announced a significant manufacturing agreement in Japan, where it will serve as the technology provider and operator for two 300mm fabrication facilities in Malta. This project is part of a U.S.-Japan initiative with funding of up to $21 billion, with each facility valued at approximately $10 billion. The first facility is anticipated to be operational by 2029, with a decision on the second facility expected by the end of 2028.

Stifel and Cantor Fitzgerald have both reiterated their positive outlooks on GlobalFoundries, with Stifel maintaining a Buy rating and a $60 price target, and Cantor Fitzgerald reiterating an Overweight rating with a $90 price target. Conversely, BNP Paribas Exane downgraded the stock to Neutral from Outperform, citing concerns about the gradual pace of growth in new market segments such as optical, satcom, and automotive power applications.

Additionally, GlobalFoundries has expanded its agreement with Marvell Technology to increase semiconductor production for high-speed optical connections in data centers. These developments are part of a broader $550 billion investment initiative between Japan and the U.S. aimed at advancing semiconductor manufacturing capabilities.