FormFactor, Inc. (NASDAQ:FORM) Shares Sold by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. has reduced its stake in FormFactor, Inc. by 3.8%, now holding 374,818 shares valued at approximately $10.6 million.
• FormFactor's stock traded down 0.4%, reaching $34.09, with a market capitalization of $2.63 billion and a P/E ratio of 49.41.
• Equity analysts have set new price targets for FormFactor, with a consensus rating of "Hold" and an average price target of $42.71.

Pinnacle Associates Ltd. lessened its stake in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 374,818 shares of the semiconductor company's stock after selling 14,886 shares during the period. Pinnacle Associates Ltd. owned 0.49% of FormFactor worth $10,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of FORM. Alliancebernstein L.P. raised its holdings in FormFactor by 127.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,114,779 shares of the semiconductor company's stock valued at $137,050,000 after buying an additional 1,742,493 shares during the period. Massachusetts Financial Services Co. MA grew its position in FormFactor by 82.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,963,727 shares of the semiconductor company's stock valued at $55,554,000 after acquiring an additional 885,617 shares in the last quarter. Reinhart Partners LLC. grew its position in 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 acquiring an additional 712,196 shares in the last quarter. Earnest Partners LLC grew its position in 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 in the last quarter. Finally, Bank of America Corp DE grew its position in FormFactor by 29.9% in the 4th quarter. Bank of America Corp DE now owns 2,542,296 shares of the semiconductor company's stock valued at $111,861,000 after acquiring an additional 585,117 shares in the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Mike Slessor sold 4,000 shares of the business'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 value of $126,880.00. Following the completion of the sale, the chief executive officer directly owned 510,650 shares in the company, valued at approximately $16,197,818. The trade was a 0.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dennis Thomas St sold 3,000 shares of the business's 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 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 disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

FormFactor Stock Down 0.4%

Shares of NASDAQ:FORM traded down $0.15 during mid-day trading on Friday, hitting $34.09. 443,435 shares of the company traded hands, compared to its average volume of 527,338. The firm has a market cap of $2.63 billion, a P/E ratio of 49.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.56 and a current ratio of 4.45. FormFactor, Inc. has a 52-week low of $22.58 and a 52-week high of $55.20. The firm's 50 day simple moving average is $33.74 and its 200 day simple moving average is $33.41.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $170.03 million. During the same quarter last year, the firm earned $0.18 EPS. FormFactor's quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts anticipate that FormFactor, Inc. will post 0.9 EPS for the current year.

Analysts Set New Price Targets

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

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.