Teacher Retirement System of Texas lowered its stake in FormFactor, Inc. (NASDAQ:FORM - Free Report) by 71.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,963 shares of the semiconductor company's stock after selling 34,517 shares during the period. Teacher Retirement System of Texas' holdings in FormFactor were worth $395,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of FORM. Public Employees Retirement System of Ohio acquired a new position in shares of FormFactor in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in 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 acquiring an additional 861 shares during the period. Pinpoint Asset Management Ltd acquired a new position in FormFactor during the fourth quarter worth $43,000. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 1,813 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in FormFactor during the fourth quarter worth $177,000. Institutional investors and hedge funds own 98.76% of the company's stock.
Insider Buying and Selling at FormFactor
In other news, CEO Mike Slessor sold 4,000 shares of the company's 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 sale, the chief executive officer directly owned 510,650 shares in the company, valued at $16,197,818. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Thomas St sold 3,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $31.24, for a total value of $93,720.00. Following the completion of the sale, the director owned 40,957 shares in the company, valued at $1,279,496.68. This represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
FORM has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of FormFactor in a report on Thursday, May 1st. DA Davidson dropped their price objective on FormFactor from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI dropped their price objective on FormFactor from $43.00 to $33.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Finally, B. Riley upped their price objective on FormFactor from $26.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, FormFactor has a consensus rating of "Hold" and an average price target of $42.71.
Read Our Latest Stock Report on FormFactor
FormFactor Price Performance
FORM traded down $0.63 during trading on Friday, reaching $35.28. 491,855 shares of the stock were exchanged, compared to its average volume of 775,446. The business's 50 day moving average price is $33.42 and its two-hundred day moving average price is $33.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.45 and a quick ratio of 3.56. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 51.13 and a beta of 1.15. FormFactor, Inc. has a 1 year low of $22.58 and a 1 year high of $60.73.
FormFactor (NASDAQ:FORM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. FormFactor had a return on equity of 6.47% and a net margin of 7.08%. The business had revenue of $171.36 million for the quarter, compared to the consensus estimate of $170.03 million. During the same period in the prior year, the business earned $0.18 earnings per share. The business's revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that FormFactor, Inc. will post 0.9 earnings per share for the current year.
About FormFactor
(
Free Report)
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.
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