Royal Bank of Canada Lowers Stock Holdings in FormFactor, Inc. (NASDAQ:FORM)

Royal Bank of Canada reduced its position in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 658,196 shares of the semiconductor company's stock after selling 45,912 shares during the period. Royal Bank of Canada owned about 0.85% of FormFactor worth $28,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FORM. Barclays PLC boosted its position in shares of FormFactor by 351.9% during the third quarter. Barclays PLC now owns 145,492 shares of the semiconductor company's stock worth $6,692,000 after buying an additional 113,296 shares during the period. Blue Trust Inc. boosted its holdings in FormFactor by 10.2% in the fourth quarter. Blue Trust Inc. now owns 6,685 shares of the semiconductor company's stock valued at $307,000 after purchasing an additional 617 shares during the period. KBC Group NV boosted its holdings in FormFactor by 90.0% in the fourth quarter. KBC Group NV now owns 3,625 shares of the semiconductor company's stock valued at $160,000 after purchasing an additional 1,717 shares during the period. Jennison Associates LLC boosted its holdings in FormFactor by 41.9% in the fourth quarter. Jennison Associates LLC now owns 24,159 shares of the semiconductor company's stock valued at $1,063,000 after purchasing an additional 7,134 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in FormFactor by 91.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 257,722 shares of the semiconductor company's stock valued at $11,396,000 after purchasing an additional 123,333 shares during the period. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Stock Up 0.4%

FormFactor stock traded up $0.12 during midday trading on Thursday, reaching $31.26. The company's stock had a trading volume of 143,194 shares, compared to its average volume of 771,090. FormFactor, Inc. has a fifty-two week low of $22.58 and a fifty-two week high of $63.63. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.41 billion, a P/E ratio of 35.12 and a beta of 1.14. The business has a 50-day simple moving average of $28.80 and a 200-day simple moving average of $35.85.

FormFactor (NASDAQ:FORM - Get Free Report) last posted its quarterly earnings results 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 5.93% and a net margin of 9.12%. The company had revenue of $171.36 million for the quarter, compared to analysts' expectations of $170.03 million. During the same period last year, the firm earned $0.18 earnings per share. FormFactor's quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $31.72, for a total transaction of $126,880.00. Following the sale, the chief executive officer now owns 510,650 shares in the company, valued at approximately $16,197,818. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FORM. Evercore ISI decreased their target price on FormFactor from $43.00 to $33.00 and set an "in-line" rating for the company 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. Stifel Nicolaus decreased their target price on FormFactor from $48.00 to $42.00 and set a "hold" rating for the company in a report on Thursday, February 6th. DA Davidson decreased their target price on FormFactor from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, B. Riley lifted their target price on FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.