Frontier Capital Management Co. LLC lessened its position in shares of FormFactor, Inc. (NASDAQ:FORM) by 26.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,179,882 shares of the semiconductor company’s stock after selling 795,108 shares during the quarter. Frontier Capital Management Co. LLC owned about 3.00% of FormFactor worth $36,731,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. lifted its stake in shares of FormFactor by 84.8% during the 2nd quarter. Pinnacle Associates Ltd. now owns 2,001,290 shares of the semiconductor company’s stock worth $24,816,000 after acquiring an additional 918,160 shares during the last quarter. Teachers Advisors LLC raised its position in FormFactor by 449.9% during the 2nd quarter. Teachers Advisors LLC now owns 645,559 shares of the semiconductor company’s stock valued at $8,005,000 after purchasing an additional 528,164 shares in the last quarter. Russell Investments Group Ltd. raised its position in FormFactor by 107.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 840,529 shares of the semiconductor company’s stock valued at $10,421,000 after purchasing an additional 434,494 shares in the last quarter. Monarch Partners Asset Management LLC raised its position in FormFactor by 225.6% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 589,571 shares of the semiconductor company’s stock valued at $7,311,000 after purchasing an additional 408,495 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of FormFactor by 1,792.9% in the 2nd quarter. Bank of Montreal Can now owns 366,799 shares of the semiconductor company’s stock worth $4,548,000 after acquiring an additional 347,421 shares in the last quarter. Institutional investors and hedge funds own 84.11% of the company’s stock.
FORM has been the subject of several recent research reports. B. Riley reissued a “buy” rating and issued a $20.00 price target on shares of FormFactor in a research report on Thursday, August 3rd. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective (up previously from $16.00) on shares of FormFactor in a report on Thursday, August 3rd. Zacks Investment Research raised FormFactor from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Wednesday, August 9th. DA Davidson reaffirmed a “buy” rating and issued a $20.00 price target on shares of FormFactor in a report on Thursday, August 31st. Finally, Citigroup Inc. increased their target price on FormFactor from $16.00 to $17.40 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $18.06.
In related news, Director Michael W. Zellner sold 3,725 shares of FormFactor stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $15.26, for a total transaction of $56,843.50. Following the completion of the transaction, the director now directly owns 63,000 shares in the company, valued at approximately $961,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Delateur sold 15,000 shares of FormFactor stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $17.69, for a total value of $265,350.00. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $442,250. The disclosure for this sale can be found here. Insiders sold a total of 75,570 shares of company stock worth $1,183,981 in the last ninety days. 2.30% of the stock is owned by corporate insiders.
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FormFactor, Inc. (FORM) traded down $0.15 during trading on Wednesday, reaching $17.25. The company’s stock had a trading volume of 399,200 shares, compared to its average volume of 681,996. The firm has a market capitalization of $1,269.93, a PE ratio of 17.75, a PEG ratio of 1.04 and a beta of 1.53. FormFactor, Inc. has a one year low of $10.15 and a one year high of $18.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.45 and a current ratio of 3.16.
FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. FormFactor had a return on equity of 16.80% and a net margin of 3.68%. The firm had revenue of $143.74 million for the quarter, compared to analyst estimates of $140.83 million. During the same quarter last year, the company posted $0.22 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. analysts anticipate that FormFactor, Inc. will post 1.04 earnings per share for the current year.
FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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