Soviero Asset Management LP Makes New $3.26 Million Investment in FormFactor, Inc. (NASDAQ:FORM)

Soviero Asset Management LP bought a new stake in FormFactor, Inc. (NASDAQ:FORM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 74,000 shares of the semiconductor company's stock, valued at approximately $3,256,000. FormFactor comprises approximately 2.0% of Soviero Asset Management LP's portfolio, making the stock its 23rd largest position. Soviero Asset Management LP owned about 0.10% of FormFactor as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Barclays PLC raised its position in FormFactor by 351.9% during the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company's stock valued at $6,692,000 after purchasing an additional 113,296 shares during the last quarter. Assenagon Asset Management S.A. raised its position in FormFactor by 19.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 250,916 shares of the semiconductor company's stock valued at $11,040,000 after purchasing an additional 40,612 shares during the last quarter. IFP Advisors Inc raised its position in FormFactor by 4,732.4% during the 4th quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 1,609 shares during the last quarter. Swiss National Bank raised its position in FormFactor by 0.9% during the 4th quarter. Swiss National Bank now owns 152,200 shares of the semiconductor company's stock valued at $6,697,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in FormFactor by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 920,441 shares of the semiconductor company's stock valued at $40,499,000 after purchasing an additional 34,338 shares during the last quarter. Institutional investors own 98.76% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. B. Riley increased their target price 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 decreased their target price 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. DA Davidson decreased their target price on FormFactor from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reissued a "hold" rating on shares of FormFactor in a research report on Thursday, May 1st. Finally, Stifel Nicolaus decreased their target price on FormFactor from $48.00 to $42.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $42.71.

Insiders Place Their Bets

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction 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 now owns 510,650 shares of the company's stock, valued at approximately $16,197,818. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company's stock.

FormFactor Stock Down 1.3%

FORM stock traded down $0.41 on Friday, reaching $30.37. 583,044 shares of the company traded hands, compared to its average volume of 771,274. FormFactor, Inc. has a one year low of $22.58 and a one year high of $63.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.83. The company has a market cap of $2.34 billion, a P/E ratio of 34.12 and a beta of 1.14. The firm has a fifty day simple moving average of $28.85 and a 200-day simple moving average of $36.08.

FormFactor (NASDAQ:FORM - Get Free Report) last posted 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 5.93% and a net margin of 9.12%. The company had revenue of $171.36 million during the quarter, compared to analyst estimates of $170.03 million. During the same quarter last year, the company earned $0.18 EPS. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts anticipate that FormFactor, Inc. will post 0.9 earnings per share 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.