Teacher Retirement System of Texas Reduces Holdings in FormFactor, Inc. (NASDAQ:FORM)

Teacher Retirement System of Texas decreased its holdings in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 71.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. 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 quarter.

Several other hedge funds have also made changes to their positions in FORM. Proficio Capital Partners LLC acquired a new stake in shares of FormFactor during the fourth quarter worth about $1,123,000. Avantax Advisory Services Inc. boosted its stake in shares of FormFactor by 27.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 27,428 shares of the semiconductor company's stock worth $1,207,000 after buying an additional 5,988 shares during the period. Swiss National Bank lifted its position in FormFactor by 0.9% in the fourth 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 period. Madison Investment Advisors LLC acquired a new stake in FormFactor in the fourth quarter valued at about $4,647,000. Finally, Natixis Advisors LLC boosted its holdings in FormFactor by 16.9% in the 4th quarter. Natixis Advisors LLC now owns 184,520 shares of the semiconductor company's stock valued at $8,119,000 after purchasing an additional 26,734 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company's stock.

FormFactor Price Performance

FormFactor stock traded up $0.34 during mid-day trading on Monday, reaching $35.62. The company had a trading volume of 528,703 shares, compared to its average volume of 775,100. FormFactor, Inc. has a 1 year low of $22.58 and a 1 year high of $60.73. 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 $2.75 billion, a P/E ratio of 51.62 and a beta of 1.15. The stock's 50-day simple moving average is $33.53 and its 200-day simple moving average is $33.63.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. FormFactor had a net margin of 7.08% and a return on equity of 6.47%. The company had revenue of $171.36 million during the quarter, compared to analysts' expectations of $170.03 million. During the same period last year, the company posted $0.18 earnings per share. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts predict that FormFactor, Inc. will post 0.9 EPS for the current year.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $31.72, for a total transaction of $126,880.00. Following the completion of the transaction, the chief executive officer directly owned 510,650 shares of the company's stock, valued at $16,197,818. This trade represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dennis Thomas St sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $31.24, for a total transaction of $93,720.00. Following the transaction, the director directly owned 40,957 shares of the company's stock, valued at approximately $1,279,496.68. This trade represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

FORM has been the topic of a number of analyst reports. DA Davidson lowered 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. B. Riley lifted their price objective on FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Evercore ISI lowered 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, Needham & Company LLC reaffirmed a "hold" rating on shares of FormFactor in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $42.71.

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.