Massachusetts Financial Services Co. MA Purchases 885,617 Shares of FormFactor, Inc. (NASDAQ:FORM)

Massachusetts Financial Services Co. MA lifted its position in FormFactor, Inc. (NASDAQ:FORM - Free Report) by 82.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,963,727 shares of the semiconductor company's stock after buying an additional 885,617 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.55% of FormFactor worth $55,554,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in FormFactor in the fourth quarter valued at about $27,000. Versant Capital Management Inc raised its stake in FormFactor by 256.3% in the 1st quarter. Versant Capital Management Inc now owns 1,197 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 861 shares during the last quarter. Pinpoint Asset Management Ltd purchased a new stake in FormFactor in the 4th quarter valued at about $43,000. CWM LLC lifted its position in FormFactor by 19.9% during the 1st quarter. CWM LLC now owns 2,303 shares of the semiconductor company's stock worth $65,000 after acquiring an additional 382 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of FormFactor by 52.3% in the 1st 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 in the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

FormFactor Trading Up 2.3%

Shares of FORM stock opened at $35.91 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.56 and a current ratio of 4.45. The stock has a market capitalization of $2.77 billion, a P/E ratio of 52.04 and a beta of 1.15. The company has a 50 day moving average price of $33.42 and a 200 day moving average price of $33.84. FormFactor, Inc. has a fifty-two week low of $22.58 and a fifty-two week high of $60.73.

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, beating analysts' consensus estimates of $0.19 by $0.04. The firm had revenue of $171.36 million for the quarter, compared to analysts' expectations of $170.03 million. FormFactor had a net margin of 7.08% and a return on equity of 6.47%. The firm's revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. Equities research analysts predict that FormFactor, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. B. Riley raised their target price on FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Needham & Company LLC restated a "hold" rating on shares of FormFactor in a report on Thursday, May 1st. Evercore ISI reduced their price target on FormFactor from $43.00 to $33.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Finally, 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 note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $42.71.

Insiders Place Their Bets

In related news, Director Dennis Thomas St sold 3,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 6.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the company's stock in a transaction dated 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 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 disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

About FormFactor

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.

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