Channing Capital Management LLC Lowers Holdings in FormFactor, Inc. $FORM

Key Points

• Channing Capital Management LLC has reduced its stake in FormFactor, Inc. by 25.5%, selling 389,414 shares and holding 1,138,437 shares by the end of the first quarter.
• FormFactor's stock has decreased by 2.3%, currently trading at $27.90, and the company has reported earnings of $0.27 per share, missing the consensus estimate.
• Wall Street analysts have mixed ratings, with two recommending a Buy and five recommending a Hold, as the average target price for the stock is established at $41.14.

Channing Capital Management LLC decreased its stake in FormFactor, Inc. (NASDAQ:FORM - Free Report) by 25.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138,437 shares of the semiconductor company's stock after selling 389,414 shares during the period. Channing Capital Management LLC owned 1.48% of FormFactor worth $32,206,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FORM. Westfield Capital Management Co. LP acquired a new stake in FormFactor during the first quarter worth approximately $25,838,000. Massachusetts Financial Services Co. MA raised its position in FormFactor by 82.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,963,727 shares of the semiconductor company's stock valued at $55,554,000 after purchasing an additional 885,617 shares in the last quarter. Reinhart Partners LLC. boosted its stake in shares of FormFactor by 160.6% in the 1st quarter. Reinhart Partners LLC. now owns 1,155,610 shares of the semiconductor company's stock valued at $32,692,000 after purchasing an additional 712,196 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of FormFactor by 10.9% in the 4th quarter. Earnest Partners LLC now owns 6,037,082 shares of the semiconductor company's stock valued at $265,632,000 after acquiring an additional 594,426 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of FormFactor by 29.9% during 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 in the last quarter. Institutional investors and hedge funds own 98.76% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FORM. Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a report on Thursday, May 1st. DA Davidson lowered their target price on FormFactor from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup reaffirmed a "neutral" rating and set a $31.00 target price (down from $36.00) on shares of FormFactor in a research report on Thursday. Stifel Nicolaus lowered their price target on FormFactor from $34.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday, July 31st. Finally, B. Riley raised their target price on FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, FormFactor presently has a consensus rating of "Hold" and an average target price of $38.29.

FormFactor Trading Up 0.2%

Shares of FormFactor stock traded up $0.05 during midday trading on Monday, reaching $29.21. 665,571 shares of the company's stock traded hands, compared to its average volume of 831,451. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.34 and a current ratio of 4.24. The company has a market cap of $2.25 billion, a PE ratio of 52.16 and a beta of 1.16. The stock has a 50 day moving average of $32.79 and a 200-day moving average of $31.62. FormFactor, Inc. has a 12 month low of $22.58 and a 12 month high of $51.68.

FormFactor (NASDAQ:FORM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). FormFactor had a return on equity of 5.57% and a net margin of 5.75%.The firm had revenue of $195.80 million during the quarter, compared to the consensus estimate of $190.17 million. During the same quarter last year, the company posted $0.35 EPS. FormFactor's revenue for the quarter was down .8% compared to the same quarter last year. FormFactor has set its Q3 2025 guidance at 0.210-0.290 EPS. As a group, equities analysts expect that FormFactor, Inc. will post 0.9 EPS for the current fiscal year.

Insider Activity

In other news, Director Dennis Thomas St sold 3,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $31.24, for a total value of $93,720.00. Following the transaction, the director owned 40,957 shares of the company's stock, valued at $1,279,496.68. This trade represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rebeca Obregon-Jimenez sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $29.55, for a total value of $118,200.00. Following the transaction, the director owned 13,126 shares of the company's stock, valued at $387,873.30. This represents a 23.36% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

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.