913,330 Shares in FormFactor, Inc. (NASDAQ:FORM) Purchased by Westfield Capital Management Co. LP

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 acquired a new position in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 913,330 shares of the semiconductor company's stock, valued at approximately $25,838,000. Westfield Capital Management Co. LP owned 1.18% of FormFactor as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of FormFactor by 82.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,963,727 shares of the semiconductor company's stock worth $55,554,000 after purchasing an additional 885,617 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of FormFactor by 160.6% during the first quarter. Reinhart Partners LLC. now owns 1,155,610 shares of the semiconductor company's stock worth $32,692,000 after purchasing an additional 712,196 shares in the last quarter. Earnest Partners LLC lifted its position in shares of FormFactor by 10.9% during the fourth quarter. Earnest Partners LLC now owns 6,037,082 shares of the semiconductor company's stock worth $265,632,000 after purchasing an additional 594,426 shares in the last quarter. Bank of America Corp DE lifted its position in shares of FormFactor by 29.9% during the fourth quarter. Bank of America Corp DE now owns 2,542,296 shares of the semiconductor company's stock worth $111,861,000 after purchasing an additional 585,117 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of FormFactor by 138.2% during the fourth quarter. Ameriprise Financial Inc. now owns 981,926 shares of the semiconductor company's stock worth $43,205,000 after purchasing an additional 569,677 shares in the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI reduced their target price 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. 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 research report on Thursday, July 31st. DA Davidson cut their price target on shares of FormFactor from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen cut shares of FormFactor from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, B. Riley upped their price target on shares of FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, FormFactor has a consensus rating of "Hold" and a consensus target price of $41.14.

Insider Buying and Selling at FormFactor

In other FormFactor news, Director Dennis Thomas St sold 3,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $31.24, for a total transaction of $93,720.00. Following the sale, the director directly owned 40,957 shares of the company's stock, valued at approximately $1,279,496.68. This represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company's stock.

FormFactor Stock Performance

Shares of NASDAQ:FORM traded up $0.60 on Friday, reaching $28.58. 587,464 shares of the company's stock were exchanged, compared to its average volume of 880,587. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 51.04 and a beta of 1.16. FormFactor, Inc. has a fifty-two week low of $22.58 and a fifty-two week high of $51.68. The business's 50-day moving average is $33.60 and its two-hundred day moving average is $32.51. The company has a quick ratio of 3.34, a current ratio of 4.24 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). The business had revenue of $195.80 million for the quarter, compared to analyst estimates of $190.17 million. FormFactor had a return on equity of 5.57% and a net margin of 5.75%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. As a group, equities research analysts forecast that FormFactor, Inc. will post 0.9 EPS for the current year.

FormFactor 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.