Westfield Capital Management Co. LP Buys Shares of 913,330 FormFactor, Inc. (NASDAQ:FORM)

Key Points

• Westfield Capital Management Co. LP has acquired a new stake in FormFactor, Inc., purchasing 913,330 shares valued at approximately $25.8 million, representing about 1.18% of the company.
• FormFactor's recent quarterly earnings reported a net margin of 5.75% and revenue of $195.8 million, which was slightly above the consensus estimate of $190.17 million, although earnings per share missed expectations.
• A majority of the stock, 98.76%, is held by institutional investors, indicating strong institutional interest in the company.

Westfield Capital Management Co. LP bought a new position in FormFactor, Inc. (NASDAQ:FORM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 913,330 shares of the semiconductor company's stock, valued at approximately $25,838,000. Westfield Capital Management Co. LP owned about 1.18% of FormFactor as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new position in FormFactor in the fourth quarter valued at $27,000. Versant Capital Management Inc increased its stake in shares of FormFactor by 256.3% during the first quarter. Versant Capital Management Inc now owns 1,197 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 861 shares in the last quarter. CWM LLC increased its position in shares of FormFactor by 19.9% during the first quarter. CWM LLC now owns 2,303 shares of the semiconductor company's stock valued at $65,000 after acquiring an additional 382 shares in the last quarter. GAMMA Investing LLC increased its position in shares of FormFactor by 52.3% during the first quarter. GAMMA Investing LLC now owns 5,279 shares of the semiconductor company's stock valued at $149,000 after acquiring an additional 1,813 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in FormFactor in the fourth quarter worth approximately $202,000. Institutional investors own 98.76% of the company's stock.

FormFactor Stock Up 1.3%

Shares of FormFactor stock traded up $0.36 during trading hours on Thursday, hitting $27.98. The company had a trading volume of 1,164,636 shares, compared to its average volume of 846,034. The company's 50-day moving average is $33.63 and its two-hundred day moving average is $32.61. FormFactor, Inc. has a twelve month low of $22.58 and a twelve month high of $51.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.24 and a quick ratio of 3.34. The company has a market cap of $2.16 billion, a P/E ratio of 49.96 and a beta of 1.16.

FormFactor (NASDAQ:FORM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). The firm had revenue of $195.80 million for the quarter, compared to analysts' expectations of $190.17 million. FormFactor had a return on equity of 5.57% and a net margin of 5.75%. The firm's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. Analysts anticipate that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In other FormFactor news, Director Dennis Thomas St sold 3,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $31.24, for a total transaction of $93,720.00. Following the completion of the transaction, the director directly owned 40,957 shares in the company, valued at approximately $1,279,496.68. This trade represents a 6.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FORM. Stifel Nicolaus reduced their target price on shares of FormFactor from $34.00 to $31.00 and set a "hold" rating on the stock in a report on Thursday, July 31st. Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a research note on Thursday, May 1st. Evercore ISI dropped their price target on shares of FormFactor from $43.00 to $33.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. B. Riley raised their price target on shares of FormFactor from $26.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen cut shares of FormFactor from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $41.14.

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.