Gotham Asset Management LLC Cuts Position in FormFactor, Inc. (NASDAQ:FORM)

Gotham Asset Management LLC cut its stake in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 75.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,364 shares of the semiconductor company's stock after selling 16,143 shares during the quarter. Gotham Asset Management LLC's holdings in FormFactor were worth $236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FORM. Barclays PLC boosted its holdings in FormFactor by 351.9% in the third quarter. Barclays PLC now owns 145,492 shares of the semiconductor company's stock valued at $6,692,000 after purchasing an additional 113,296 shares in the last quarter. Blue Trust Inc. boosted its holdings in FormFactor by 10.2% in the fourth quarter. Blue Trust Inc. now owns 6,685 shares of the semiconductor company's stock valued at $307,000 after purchasing an additional 617 shares in the last quarter. KBC Group NV boosted its holdings in FormFactor by 90.0% in the fourth quarter. KBC Group NV now owns 3,625 shares of the semiconductor company's stock valued at $160,000 after purchasing an additional 1,717 shares in the last quarter. Jennison Associates LLC boosted its holdings in FormFactor by 41.9% in the fourth quarter. Jennison Associates LLC now owns 24,159 shares of the semiconductor company's stock valued at $1,063,000 after purchasing an additional 7,134 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in FormFactor by 91.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 257,722 shares of the semiconductor company's stock valued at $11,396,000 after purchasing an additional 123,333 shares in the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FORM shares. Stifel Nicolaus lowered their price target on FormFactor from $48.00 to $42.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Evercore ISI lowered their price target on FormFactor from $43.00 to $33.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of FormFactor in a report on Thursday, May 1st. B. Riley boosted 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. Finally, DA Davidson reduced their price objective on FormFactor from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $42.71.

FormFactor Stock Performance

NASDAQ FORM traded up $1.58 on Tuesday, reaching $31.95. The stock had a trading volume of 653,505 shares, compared to its average volume of 772,491. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61. FormFactor, Inc. has a 12-month low of $22.58 and a 12-month high of $63.63. The business's 50-day moving average price is $28.80 and its 200 day moving average price is $35.88. The stock has a market cap of $2.46 billion, a P/E ratio of 35.90 and a beta of 1.14.

FormFactor (NASDAQ:FORM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. FormFactor had a return on equity of 5.93% and a net margin of 9.12%. The business had revenue of $171.36 million during the quarter, compared to analysts' expectations of $170.03 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The company's quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts expect that FormFactor, Inc. will post 0.9 earnings per share for the current year.

Insiders Place Their Bets

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the completion of the transaction, the chief executive officer now owns 510,650 shares in the company, valued at approximately $16,197,818. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.96% of the stock is currently 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.