Neumeier Poma Investment Counsel LLC Cuts Stake in FormFactor, Inc. (NASDAQ:FORM)

Key Points

• Neumeier Poma Investment Counsel LLC reduced its stock holdings in FormFactor, Inc. by 24.6%, selling 99,740 shares and ending the quarter with approximately 0.40% of the company’s shares valued at $8.64 million.
• FormFactor recently reported its quarterly earnings, posting $0.27 EPS, which was short of the analysts' expectations of $0.30, with revenue slightly increasing to $195.80 million.
• Institutional investors currently own 98.76% of FormFactor's stock, suggesting strong confidence in the company, despite recent adjustments to stock ratings by several brokerages.

Neumeier Poma Investment Counsel LLC trimmed its holdings in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 24.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 305,390 shares of the semiconductor company's stock after selling 99,740 shares during the period. Neumeier Poma Investment Counsel LLC owned approximately 0.40% of FormFactor worth $8,639,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FORM. Public Employees Retirement System of Ohio acquired a new stake in FormFactor in the 4th quarter valued at about $27,000. Versant Capital Management Inc grew its position in shares of FormFactor by 256.3% during the 1st quarter. Versant Capital Management Inc now owns 1,197 shares of the semiconductor company's stock worth $34,000 after buying an additional 861 shares during the period. Headlands Technologies LLC bought a new position in FormFactor during the 1st quarter worth approximately $42,000. CWM LLC boosted its stake 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 during the last quarter. Finally, GAMMA Investing LLC boosted its stake in FormFactor by 52.3% during the 1st quarter. GAMMA Investing LLC now owns 5,279 shares of the semiconductor company's stock worth $149,000 after acquiring an additional 1,813 shares during the last quarter. 98.76% of the stock is owned by institutional investors.

Insider Activity

In other FormFactor news, Director Dennis Thomas St sold 3,000 shares of the 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 in the company, valued at approximately $1,279,496.68. This represents a 6.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company's stock.

FormFactor Price Performance

FORM traded down $0.03 on Monday, hitting $28.56. 229,897 shares of the stock were exchanged, compared to its average volume of 828,712. FormFactor, Inc. has a 12 month low of $22.58 and a 12 month high of $51.68. The business has a 50-day moving average of $33.60 and a two-hundred day moving average of $32.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.24 and a quick ratio of 3.34. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 51.12 and a beta of 1.16.

FormFactor (NASDAQ:FORM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $195.80 million during the quarter, compared to analyst estimates of $190.17 million. FormFactor had a net margin of 5.75% and a return on equity of 5.57%. The business's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. Sell-side analysts forecast that FormFactor, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on FORM shares. Evercore ISI cut their price target on shares of FormFactor from $43.00 to $33.00 and set an "in-line" rating on the stock in a research note 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 report on Thursday, May 1st. Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a report on Thursday, May 1st. B. Riley lifted their price objective on shares of FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price objective on shares of FormFactor from $34.00 to $31.00 and set a "hold" rating on the stock in a report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $41.14.

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.