Bank of New York Mellon Corp Sells 362,169 Shares of FormFactor, Inc. (NASDAQ:FORM)

Bank of New York Mellon Corp decreased its position in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 31.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 775,076 shares of the semiconductor company's stock after selling 362,169 shares during the quarter. Bank of New York Mellon Corp owned 1.01% of FormFactor worth $21,927,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FORM. Public Employees Retirement System of Ohio purchased a new stake in shares of FormFactor during the fourth quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in shares of FormFactor by 256.3% during the first quarter. Versant Capital Management Inc now owns 1,197 shares of the semiconductor company's stock valued at $34,000 after buying an additional 861 shares during the last quarter. Pinpoint Asset Management Ltd purchased a new stake in shares of FormFactor during the fourth quarter valued at approximately $43,000. GAMMA Investing LLC lifted its position in FormFactor by 52.3% during the first quarter. GAMMA Investing LLC now owns 5,279 shares of the semiconductor company's stock valued at $149,000 after purchasing an additional 1,813 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in FormFactor during the fourth quarter valued at approximately $177,000. Hedge funds and other institutional investors own 98.76% of the company's stock.

Insiders Place Their Bets

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor 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 directly owned 510,650 shares of the company's stock, valued at approximately $16,197,818. The trade was a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis Thomas St sold 3,000 shares of FormFactor stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $31.24, for a total transaction of $93,720.00. Following the transaction, the director directly owned 40,957 shares of the company's stock, valued at approximately $1,279,496.68. This represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

FormFactor Price Performance

Shares of NASDAQ:FORM traded up $0.34 on Monday, reaching $35.62. The company's stock had a trading volume of 528,703 shares, compared to its average volume of 775,100. FormFactor, Inc. has a 52-week low of $22.58 and a 52-week high of $60.73. The company has a market cap of $2.75 billion, a P/E ratio of 51.62 and a beta of 1.15. The company has a 50-day simple moving average of $33.53 and a 200 day simple moving average of $33.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.56 and a current ratio of 4.45.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. FormFactor had a net margin of 7.08% and a return on equity of 6.47%. The business had revenue of $171.36 million during the quarter, compared to analysts' expectations of $170.03 million. During the same period last year, the company posted $0.18 EPS. The business's revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that FormFactor, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FORM has been the topic of a number of research analyst reports. B. Riley increased their price objective on shares of FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. DA Davidson lowered their price objective on shares of FormFactor from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC restated a "hold" rating on shares of FormFactor in a research report on Thursday, May 1st. Finally, Evercore ISI lowered their price objective on shares of FormFactor from $43.00 to $33.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $42.71.

FormFactor 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.