Bessemer Group Inc. Acquires 13,489 Shares of FormFactor, Inc. (NASDAQ:FORM)

Bessemer Group Inc. raised its holdings in FormFactor, Inc. (NASDAQ:FORM - Free Report) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 345,044 shares of the semiconductor company's stock after buying an additional 13,489 shares during the quarter. Bessemer Group Inc. owned about 0.44% of FormFactor worth $9,762,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in FORM. Sanctuary Advisors LLC boosted its stake in shares of FormFactor by 22.4% during the 4th quarter. Sanctuary Advisors LLC now owns 18,225 shares of the semiconductor company's stock valued at $802,000 after purchasing an additional 3,333 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in FormFactor by 5.5% in the fourth quarter. D.A. Davidson & CO. now owns 5,510 shares of the semiconductor company's stock worth $242,000 after buying an additional 288 shares during the period. Handelsbanken Fonder AB boosted its position in FormFactor by 6.5% during the 4th quarter. Handelsbanken Fonder AB now owns 21,260 shares of the semiconductor company's stock valued at $935,000 after acquiring an additional 1,300 shares in the last quarter. IFP Advisors Inc boosted its position in FormFactor by 4,732.4% during the 4th quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 1,609 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of FormFactor by 1.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 55,842 shares of the semiconductor company's stock worth $2,457,000 after acquiring an additional 742 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FORM shares. Evercore ISI cut their price objective on shares of FormFactor from $43.00 to $33.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC reissued a "hold" rating on shares of FormFactor in a research report on Thursday, May 1st. DA Davidson cut their price target on FormFactor from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, B. Riley lifted their price objective on FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, FormFactor presently has an average rating of "Hold" and a consensus price target of $42.71.

Insider Activity

In other news, Director Dennis Thomas St sold 3,000 shares of FormFactor stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $31.24, for a total value of $93,720.00. Following the completion of the sale, the director directly owned 40,957 shares in the company, valued at $1,279,496.68. The trade was a 6.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mike Slessor sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $31.72, for a total transaction of $126,880.00. Following the completion of the sale, the chief executive officer owned 510,650 shares in the company, valued at $16,197,818. This represents a 0.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock worth $333,560 in the last 90 days. Company insiders own 0.96% of the company's stock.

FormFactor Stock Down 1.4%

NASDAQ FORM traded down $0.50 during mid-day trading on Monday, reaching $34.41. The stock had a trading volume of 458,866 shares, compared to its average volume of 777,600. The stock has a market cap of $2.65 billion, a PE ratio of 49.87 and a beta of 1.13. FormFactor, Inc. has a 1 year low of $22.58 and a 1 year high of $63.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.45 and a quick ratio of 3.56. The company has a fifty day moving average price of $31.59 and a 200 day moving average price of $34.56.

FormFactor (NASDAQ:FORM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. FormFactor had a return on equity of 6.47% and a net margin of 7.08%. The firm had revenue of $171.36 million during the quarter, compared to analysts' expectations of $170.03 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company's revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that FormFactor, Inc. will post 0.9 earnings per share for the current year.

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.