Concentric Capital Strategies LP Buys New Position in FormFactor, Inc. (NASDAQ:FORM)

Concentric Capital Strategies LP purchased a new position in FormFactor, Inc. (NASDAQ:FORM - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 70,167 shares of the semiconductor company's stock, valued at approximately $3,087,000. Concentric Capital Strategies LP owned 0.09% of FormFactor at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Brevan Howard Capital Management LP increased its stake in shares of FormFactor by 76.7% in the fourth quarter. Brevan Howard Capital Management LP now owns 8,179 shares of the semiconductor company's stock worth $360,000 after acquiring an additional 3,551 shares during the period. Bank of America Corp DE boosted its holdings in FormFactor by 29.9% in the fourth quarter. Bank of America Corp DE now owns 2,542,296 shares of the semiconductor company's stock valued at $111,861,000 after purchasing an additional 585,117 shares during the last quarter. Ameriprise Financial Inc. grew its position in FormFactor by 138.2% during the 4th quarter. Ameriprise Financial Inc. now owns 981,926 shares of the semiconductor company's stock worth $43,205,000 after purchasing an additional 569,677 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of FormFactor during the 4th quarter valued at about $8,886,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of FormFactor by 2,165.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 111,751 shares of the semiconductor company's stock valued at $4,917,000 after buying an additional 106,819 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.

FormFactor Trading Down 0.5 %

NASDAQ:FORM traded down $0.16 on Friday, hitting $29.81. The stock had a trading volume of 400,019 shares, compared to its average volume of 771,886. The company has a fifty day moving average price of $28.86 and a two-hundred day moving average price of $36.72. FormFactor, Inc. has a 1-year low of $22.58 and a 1-year high of $63.63. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 33.49 and a beta of 1.14.

FormFactor (NASDAQ:FORM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The firm had revenue of $171.36 million for the quarter, compared to analysts' expectations of $170.03 million. FormFactor had a return on equity of 5.93% and a net margin of 9.12%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. Equities research analysts expect that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $31.72, for a total transaction of $126,880.00. Following the completion of the transaction, the chief executive officer now owns 510,650 shares of the company's stock, valued at $16,197,818. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

FORM has been the topic of several analyst reports. Evercore ISI dropped their target price on FormFactor from $43.00 to $33.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. DA Davidson lowered their price objective on FormFactor from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus cut their target price on shares of FormFactor from $48.00 to $42.00 and set a "hold" rating for the company in a report on Thursday, February 6th. B. Riley increased their price target on shares of FormFactor from $26.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC restated a "hold" rating on shares of FormFactor in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $42.71.

FormFactor Company Profile

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.