Reinhart Partners LLC. Lowers Stock Holdings in FormFactor, Inc. $FORM

Key Points

• Reinhart Partners cut its FormFactor stake by 44.8% in the second quarter, selling 519,776 shares and retaining 639,922 shares valued at approximately $102.3 million. Institutional investors collectively own 98.76% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $127.45. However, some firms recently lowered targets or downgraded the stock.
• FormFactor reported strong quarterly results, posting $0.82 in EPS and $258.24 million in revenue, beating estimates and increasing revenue 31.9% year over year. Insiders have sold 38,534 shares worth about $4.86 million over the past 90 days.

Reinhart Partners LLC. decreased its holdings in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 44.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 639,922 shares of the semiconductor company's stock after selling 519,776 shares during the quarter. FormFactor comprises about 2.3% of Reinhart Partners LLC.'s investment portfolio, making the stock its 21st biggest position. Reinhart Partners LLC. owned about 0.82% of FormFactor worth $102,345,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in FormFactor by 9.1% in the 2nd quarter. GAMMA Investing LLC now owns 5,910 shares of the semiconductor company's stock worth $945,000 after buying an additional 495 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of FormFactor during the 1st quarter worth about $269,000. Parallel Advisors LLC lifted its holdings in shares of FormFactor by 1,077.3% during the 1st quarter. Parallel Advisors LLC now owns 6,381 shares of the semiconductor company's stock worth $619,000 after acquiring an additional 5,839 shares during the period. Glenmede Trust Co. NA acquired a new stake in shares of FormFactor in the first quarter worth approximately $322,000. Finally, Cim Investment Management Inc. boosted its position in shares of FormFactor by 10.8% in the first quarter. Cim Investment Management Inc. now owns 5,071 shares of the semiconductor company's stock worth $492,000 after acquiring an additional 493 shares during the last quarter. Institutional investors and hedge funds own 98.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Northland Securities set a $118.00 price target on shares of FormFactor in a research note on Thursday, April 30th. Craig Hallum raised shares of FormFactor from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research note on Tuesday, May 12th. B. Riley Financial upgraded FormFactor from a "neutral" rating to a "buy" rating and set a $165.00 price objective for the company in a report on Thursday, June 11th. TD Cowen cut their target price on FormFactor from $150.00 to $100.00 and set a "hold" rating on the stock in a research report on Thursday, July 30th. Finally, Zacks Research cut FormFactor from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $127.45.

Insider Buying and Selling at FormFactor

In other news, Director Brian C. White sold 3,250 shares of FormFactor stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $126.00, for a total transaction of $409,500.00. Following the sale, the director owned 8,653 shares of the company's stock, valued at approximately $1,090,278. The trade was a 27.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mike Slessor sold 11,890 shares of FormFactor stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $121.35, for a total value of $1,442,851.50. Following the sale, the chief executive officer directly owned 435,147 shares in the company, valued at $52,805,088.45. The trade was a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 38,534 shares of company stock worth $4,864,118. 0.79% of the stock is owned by insiders.

FormFactor Price Performance

Shares of NASDAQ FORM opened at $117.39 on Friday. FormFactor, Inc. has a 1-year low of $27.00 and a 1-year high of $160.27. The business has a 50-day moving average of $122.52 and a 200-day moving average of $112.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.08 and a quick ratio of 3.34. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 80.40 and a beta of 1.25.

FormFactor (NASDAQ:FORM - Get Free Report) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.21. The business had revenue of $258.24 million for the quarter, compared to analysts' expectations of $240.00 million. FormFactor had a net margin of 12.80% and a return on equity of 13.44%. The business's revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS. On average, equities analysts anticipate that FormFactor, Inc. will post 2.7 EPS for the current fiscal year.

FormFactor Profile

FormFactor, Inc NASDAQ: FORM is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor's product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source