Bank of America Corp DE Purchases New Shares in FormFactor, Inc. $FORM

Key Points

• Bank of America acquired 1.78 million FormFactor shares worth approximately $285.3 million in the second quarter, giving it a 2.29% stake. Institutional investors collectively own 98.76% of the company.
• Analyst sentiment remains positive overall, with FormFactor carrying a consensus “Moderate Buy” rating and a $127.45 average price target, although TD Cowen cut its target to $100.
• FormFactor reported strong quarterly results, posting $0.82 in earnings per share versus a $0.61 estimate and $258.2 million in revenue, up 31.9% year over year. The CEO and a director also disclosed stock sales, while insiders own 0.79% of the company.

Bank of America Corp DE bought a new stake in FormFactor, Inc. (NASDAQ:FORM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,783,638 shares of the semiconductor company's stock, valued at approximately $285,257,000. Bank of America Corp DE owned 2.29% of FormFactor at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FORM. The Manufacturers Life Insurance Company bought a new stake in shares of FormFactor during the second quarter valued at approximately $4,108,000. BlackRock Inc. purchased a new stake in shares of FormFactor in the second quarter valued at approximately $1,676,772,000. Fisher Asset Management LLC grew its stake in FormFactor by 206.4% in the fourth quarter. Fisher Asset Management LLC now owns 436,045 shares of the semiconductor company's stock worth $24,323,000 after purchasing an additional 293,746 shares in the last quarter. Hanseatic Management Services Inc. bought a new position in FormFactor in the first quarter worth approximately $1,334,000. Finally, Jackson Creek Investment Advisors LLC purchased a new position in FormFactor during the 4th quarter worth $1,704,000. 98.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on FORM. TD Cowen lowered their price objective on shares of FormFactor from $150.00 to $100.00 and set a "hold" rating for the company in a research note on Thursday, July 30th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of FormFactor in a research report on Monday, July 27th. Zacks Research upgraded shares of FormFactor from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 18th. Weiss Ratings raised shares of FormFactor from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 6th. Finally, B. Riley Financial raised shares of FormFactor from a "neutral" rating to a "buy" rating and set a $165.00 price objective for the company in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.45.

FormFactor Stock Performance

Shares of FORM stock opened at $104.82 on Thursday. The stock has a market cap of $8.17 billion, a PE ratio of 71.79 and a beta of 1.24. The business has a 50-day simple moving average of $110.52 and a 200-day simple moving average of $118.06. The company has a quick ratio of 3.34, a current ratio of 4.08 and a debt-to-equity ratio of 0.01. FormFactor, Inc. has a 52-week low of $31.43 and a 52-week high of $160.27.

FormFactor (NASDAQ:FORM - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.61 by $0.21. FormFactor had a net margin of 12.80% and a return on equity of 13.44%. The company had revenue of $258.24 million for the quarter, compared to analyst estimates of $240.00 million. During the same quarter last year, the business earned $0.27 earnings per share. The firm's revenue was up 31.9% on a year-over-year basis. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS. On average, equities analysts expect that FormFactor, Inc. will post 2.7 EPS for the current year.

Insider Activity at FormFactor

In other news, Director Kelley Steven-Waiss sold 2,100 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $96.10, for a total transaction of $201,810.00. Following the transaction, the director owned 24,426 shares in the company, valued at $2,347,338.60. This trade represents a 7.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mike Slessor sold 16,002 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $130.95, for a total transaction of $2,095,461.90. Following the completion of the sale, the chief executive officer directly owned 484,204 shares of the company's stock, valued at approximately $63,406,513.80. The trade was a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.79% of the stock is currently owned by company insiders.

About FormFactor

FormFactor, Inc is a semiconductor test and measurement company that develops and manufactures equipment and components used to evaluate integrated circuits during wafer fabrication and final testing. Its products help semiconductor manufacturers and research organizations measure electrical performance, identify defects and improve yields before chips are packaged and shipped.

The company's product portfolio includes advanced wafer probe cards, which establish electrical connections with semiconductor wafers during automated testing, as well as engineering probe systems, probe stations and related measurement technologies.

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