First Quadrant L P CA cut its holdings in FormFactor, Inc. (NASDAQ:FORM) by 84.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,751 shares of the semiconductor company’s stock after selling 35,918 shares during the period. First Quadrant L P CA’s holdings in FormFactor were worth $198,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of FormFactor by 29.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,780 shares of the semiconductor company’s stock worth $228,000 after purchasing an additional 1,786 shares during the period. Juncture Wealth Strategies LLC bought a new position in FormFactor during the second quarter valued at about $277,000. Nisa Investment Advisors LLC bought a new position in FormFactor during the second quarter valued at about $103,000. Dupont Capital Management Corp bought a new position in FormFactor during the second quarter valued at about $623,000. Finally, Stone Ridge Asset Management LLC increased its stake in FormFactor by 8.5% during the second quarter. Stone Ridge Asset Management LLC now owns 15,311 shares of the semiconductor company’s stock valued at $449,000 after acquiring an additional 1,200 shares during the period. Institutional investors and hedge funds own 92.25% of the company’s stock.
In other news, CEO Mike Slessor sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $24.60, for a total value of $615,000.00. Following the transaction, the chief executive officer now directly owns 345,767 shares of the company’s stock, valued at approximately $8,505,868.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shai Shahar sold 5,111 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $24.87, for a total value of $127,110.57. Following the completion of the transaction, the chief financial officer now directly owns 17,216 shares in the company, valued at $428,161.92. The disclosure for this sale can be found here. Insiders sold a total of 42,121 shares of company stock worth $1,061,110 over the last three months. 1.22% of the stock is owned by company insiders.
Shares of FORM opened at $28.84 on Friday. The company has a market capitalization of $2.20 billion, a P/E ratio of 35.60 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.63 and a quick ratio of 2.96. FormFactor, Inc. has a one year low of $16.25 and a one year high of $33.07. The business’s 50 day simple moving average is $29.82 and its 200-day simple moving average is $25.14.
FormFactor (NASDAQ:FORM) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $157.82 million for the quarter, compared to the consensus estimate of $159.00 million. FormFactor had a return on equity of 13.09% and a net margin of 9.92%. On average, sell-side analysts anticipate that FormFactor, Inc. will post 0.96 EPS for the current fiscal year.
Several brokerages recently issued reports on FORM. DA Davidson upgraded FormFactor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $25.00 to $30.00 in a research note on Monday, June 1st. BidaskClub upgraded FormFactor from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 18th. Needham & Company LLC restated a “hold” rating on shares of FormFactor in a research note on Friday. Sidoti boosted their price target on FormFactor from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Stifel Nicolaus upgraded FormFactor to a “positive” rating in a research note on Thursday, July 2nd. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. FormFactor currently has an average rating of “Buy” and a consensus target price of $30.30.
FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and 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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