Primecap Management Co. CA Has $78.77 Million Position in FormFactor, Inc. (NASDAQ:FORM)

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 trimmed its position in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,784,234 shares of the semiconductor company's stock after selling 14,830 shares during the quarter. Primecap Management Co. CA owned approximately 3.61% of FormFactor worth $78,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of FormFactor during the 4th quarter valued at about $27,000. Versant Capital Management Inc increased its stake in shares of FormFactor by 256.3% during the first 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. CWM LLC increased its stake in shares of FormFactor by 19.9% during the first quarter. CWM LLC now owns 2,303 shares of the semiconductor company's stock worth $65,000 after buying an additional 382 shares during the period. GAMMA Investing LLC increased its stake in FormFactor by 52.3% in the first 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 during the last quarter. Finally, Advisory Services Network LLC purchased a new position in FormFactor in the fourth quarter valued at approximately $202,000. Hedge funds and other institutional investors own 98.76% of the company's stock.

Insider Transactions at FormFactor

In related news, Director Dennis Thomas St sold 3,000 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $31.24, for a total transaction of $93,720.00. Following the sale, the director owned 40,957 shares in the company, valued at approximately $1,279,496.68. This represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FORM. Needham & Company LLC reaffirmed a "hold" rating on shares of FormFactor in a report on Thursday, May 1st. Evercore ISI decreased their price target on 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 reduced their price objective on FormFactor from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered FormFactor from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, B. Riley boosted their price target on FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $41.14.

FormFactor Trading Up 2.1%

FORM stock traded up $0.60 during midday trading on Friday, hitting $28.58. 587,464 shares of the company's stock were exchanged, compared to its average volume of 880,587. The stock's fifty day moving average price is $33.60 and its 200-day moving average price is $32.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.34 and a current ratio of 4.24. The company has a market cap of $2.20 billion, a PE ratio of 51.04 and a beta of 1.16. FormFactor, Inc. has a one year low of $22.58 and a one year high of $51.68.

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

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.