FormFactor, Inc. (NASDAQ:FORM) Stock Holdings Reduced by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA reduced its stake in FormFactor, Inc. by selling 14,830 shares, bringing its ownership to approximately 2.78 million shares, valued at $78.77 million.
• Several other institutional investors have increased their positions in FormFactor, with Janney Montgomery Scott LLC notably boosting its stake by 104.4%.
• FormFactor's stock has faced mixed analyst ratings, with one downgrade to "sell" and a consensus rating of "hold" along with a target price adjustment down to $41.14.

Primecap Management Co. CA lessened its stake in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,784,234 shares of the semiconductor company's stock after selling 14,830 shares during the quarter. Primecap Management Co. CA owned about 3.61% of FormFactor worth $78,766,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of FormFactor by 52.3% during the first quarter. GAMMA Investing LLC now owns 5,279 shares of the semiconductor company's stock worth $149,000 after purchasing an additional 1,813 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of FormFactor by 104.4% during the first quarter. Janney Montgomery Scott LLC now owns 15,245 shares of the semiconductor company's stock worth $431,000 after purchasing an additional 7,787 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of FormFactor by 2.8% during the first quarter. Victory Capital Management Inc. now owns 21,643 shares of the semiconductor company's stock worth $612,000 after purchasing an additional 599 shares during the last quarter. CWM LLC raised its position in FormFactor by 19.9% in the first 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, JPMorgan Chase & Co. raised its position in FormFactor by 118.1% in the fourth quarter. JPMorgan Chase & Co. now owns 509,399 shares of the semiconductor company's stock worth $22,414,000 after acquiring an additional 275,824 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus cut their price objective on FormFactor from $34.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday, July 31st. Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a research report on Thursday, May 1st. DA Davidson cut their price objective on FormFactor from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI cut their price objective 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, Wall Street Zen cut FormFactor from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, FormFactor has an average rating of "Hold" and a consensus target price of $41.14.

Insider Transactions at FormFactor

In other FormFactor news, Director Dennis Thomas St sold 3,000 shares of the business's stock in a transaction 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 completion of the transaction, the director owned 40,957 shares in the company, valued at approximately $1,279,496.68. The trade was a 6.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.96% of the company's stock.

FormFactor Stock Up 0.2%

FORM stock traded up $0.07 during midday trading on Monday, hitting $28.65. 128,564 shares of the company's stock were exchanged, compared to its average volume of 828,024. The company has a current ratio of 4.24, a quick ratio of 3.34 and a debt-to-equity ratio of 0.01. FormFactor, Inc. has a 12-month low of $22.58 and a 12-month high of $51.68. The firm has a 50 day moving average price of $33.60 and a 200-day moving average price of $32.36. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 51.14 and a beta of 1.16.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). FormFactor had a net margin of 5.75% and a return on equity of 5.57%. 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 firm posted $0.35 earnings per share. FormFactor's revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that FormFactor, Inc. will post 0.9 EPS for the current year.

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.