New York, May 30, 2026, 13:02 (EDT)
- Shares of GlobalFoundries slipped 0.82% to finish Friday at $79.97, bringing their drop to 6.62% over the week.
- Mubadala’s $1.91 billion block trade was the main drag this week, with the big privately negotiated share sale standing out.
- Nasdaq is closed for the weekend. Normal hours start again Monday, following its usual weekday schedule.
GlobalFoundries Inc. slipped at the end of the holiday-shortened week, giving up much of its strong May gains after a big stock sale from its main shareholder.
Shares on the Nasdaq finished Friday at $79.97, down 0.82%. The stock had touched a 52-week high of $92.55 Tuesday, but by the end of the week was 13.59% off that level. It’s still up a lot for the month.
That hits now because the shift sliced through a chip sector that stayed firm. The PHLX Semiconductor Index, or SOX, a basket of 30 chip stocks, closed Friday almost flat at 12,829.38 after reaching an intraday top of 13,115.28.
Mubadala unloaded 22 million GlobalFoundries shares in a block trade for $1.91 billion, cutting its holding to 400 million shares, or 73%, Investing.com reported, citing a fund statement. Camilla Languille, Mubadala’s co-chief executive of private equity, said Mubadala is still “highly committed” to GlobalFoundries’ strategy. Investing.com
Mubadala was selling shares at $86.30 to $86.80 each, Reuters reported, citing Bloomberg News. That range came in under Tuesday’s $89.96 close, so buyers faced new supply after the stock’s sharp move higher.
GlobalFoundries caught investor attention earlier in May after posting first-quarter revenue of $1.634 billion and non-IFRS diluted EPS at $0.40. These non-IFRS numbers adjust for certain accounting items. CEO Tim Breen said the company put up “strong results” and is seeing momentum in “secular growth end markets,” or industries driven by ongoing demand, not short-term swings. GlobalFoundries Inc.
GlobalFoundries Inc. said May 7 at its investor day it will pay its first quarterly dividend, 12 cents a share, to holders of record on June 24. The payout date is July 14. CEO Breen said the company is “positioned at the center” of several long-term trends in semiconductors.
Cantor Fitzgerald analyst C.J. Muse bumped up GlobalFoundries to Overweight from Neutral in early May, lifting his price target on the stock to $80 from $50. He cited “secular drivers” like silicon photonics and 5G infrastructure, Barron’s said. The Barron’s report also called out that GlobalFoundries has less direct AI-related exposure when compared to Broadcom or Taiwan Semiconductor Manufacturing. Barron’s
Friday’s filing showed Chief Strategy Officer Michael James Hogan sold 2,800 shares at $82.88 on May 27. Hogan also gifted 150 shares, according to the same filing. The trades were under a Rule 10b5-1 plan, which lets insiders set up pre-arranged trades.
The risk for the stock isn’t limited to the share sale itself. Mubadala still holds a big majority of the company, so future sales remain a threat to any bounce. Softer demand from data-center, car or smartphone chips could also bring real downside.
Stabilization is the focus for the week. Traders are watching if the stock stays around Wednesday’s $78.89 low and if buyers see the recent drop as a supply issue, not a problem with the company’s growth story.
