Victory Capital Management Inc. boosted its holdings in FormFactor (NASDAQ:FORM) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,680,606 shares of the semiconductor company’s stock after acquiring an additional 75,717 shares during the quarter. Victory Capital Management Inc. owned about 2.27% of FormFactor worth $22,940,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of FORM. Opus Capital Group LLC acquired a new stake in FormFactor during the 4th quarter worth about $2,595,000. Fisher Asset Management LLC raised its holdings in FormFactor by 5.8% during the 4th quarter. Fisher Asset Management LLC now owns 431,765 shares of the semiconductor company’s stock worth $6,757,000 after buying an additional 23,851 shares during the period. Swiss National Bank raised its holdings in FormFactor by 4.7% during the 4th quarter. Swiss National Bank now owns 123,500 shares of the semiconductor company’s stock worth $1,933,000 after buying an additional 5,600 shares during the period. First Trust Advisors LP raised its holdings in FormFactor by 8.4% during the 4th quarter. First Trust Advisors LP now owns 169,822 shares of the semiconductor company’s stock worth $2,658,000 after buying an additional 13,161 shares during the period. Finally, Cigna Investments Inc. New acquired a new stake in FormFactor during the 4th quarter worth about $252,000. Hedge funds and other institutional investors own 82.77% of the company’s stock.
FORM has been the topic of several recent analyst reports. Zacks Investment Research upgraded FormFactor from a “strong sell” rating to a “hold” rating in a report on Monday, April 2nd. BidaskClub downgraded FormFactor from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 27th. ValuEngine upgraded FormFactor from a “sell” rating to a “hold” rating in a report on Friday, May 11th. Needham & Company LLC downgraded FormFactor from a “strong-buy” rating to a “buy” rating and cut their price objective for the stock from $20.00 to $17.00 in a report on Friday, April 27th. Finally, B. Riley restated a “buy” rating and set a $20.00 price objective (down previously from $22.00) on shares of FormFactor in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $17.93.
In other news, CFO Michael M. Ludwig sold 45,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $13.05, for a total value of $587,250.00. Following the transaction, the chief financial officer now owns 242,887 shares in the company, valued at approximately $3,169,675.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Thomas St sold 20,867 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $13.58, for a total value of $283,373.86. Following the completion of the transaction, the director now owns 61,533 shares in the company, valued at approximately $835,618.14. The disclosure for this sale can be found here. Insiders sold a total of 91,789 shares of company stock worth $1,211,620 in the last quarter. 1.30% of the stock is owned by corporate insiders.
Shares of FormFactor opened at $13.00 on Friday, according to MarketBeat.com. The stock has a market capitalization of $971.32 million, a PE ratio of 13.00, a price-to-earnings-growth ratio of 0.97 and a beta of 1.37. FormFactor has a fifty-two week low of $11.10 and a fifty-two week high of $18.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.46 and a current ratio of 3.23.
FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, May 2nd. The semiconductor company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $118.29 million for the quarter, compared to the consensus estimate of $116.08 million. FormFactor had a return on equity of 15.19% and a net margin of 7.04%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. sell-side analysts expect that FormFactor will post 0.86 EPS for the current fiscal year.
FormFactor Company Profile
FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.
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