Westfield Capital Management Co. LP Sells 577,053 Shares of FormFactor, Inc. $FORM

Key Points

• Westfield Capital Management cut its FormFactor stake by 56.2% in the fourth quarter, selling 577,053 shares and leaving it with 449,604 shares worth about $25.1 million.
• Other institutions remain heavily invested in FormFactor, with firms like Goldman Sachs and Norges Bank adding positions; institutional ownership stands at 98.76%.
• FormFactor reported solid quarterly results, beating EPS estimates and posting 31.9% year-over-year revenue growth, while analysts maintain a Moderate Buy consensus with a $132.45 average price target.

Westfield Capital Management Co. LP decreased its holdings in FormFactor, Inc. (NASDAQ:FORM - Free Report) by 56.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 449,604 shares of the semiconductor company's stock after selling 577,053 shares during the period. Westfield Capital Management Co. LP owned about 0.58% of FormFactor worth $25,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of FORM. Shannon River Fund Management LLC bought a new position in FormFactor in the third quarter worth approximately $35,260,000. Norges Bank bought a new position in FormFactor in the fourth quarter worth approximately $31,451,000. Channing Capital Management LLC bought a new position in FormFactor in the third quarter worth approximately $16,909,000. Assenagon Asset Management S.A. raised its stake in FormFactor by 384.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 562,769 shares of the semiconductor company's stock worth $31,391,000 after buying an additional 446,615 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in FormFactor by 72.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 884,727 shares of the semiconductor company's stock worth $49,350,000 after purchasing an additional 372,306 shares during the last quarter. Institutional investors own 98.76% of the company's stock.

Insider Transactions at FormFactor

In related news, Director Sheri Rhodes sold 6,328 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $125.40, for a total value of $793,531.20. Following the transaction, the director directly owned 5,375 shares of the company's stock, valued at $674,025. This represents a 54.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian C. White sold 3,250 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $126.00, for a total transaction of $409,500.00. Following the completion of the sale, the director directly owned 8,653 shares in the company, valued at approximately $1,090,278. The trade was a 27.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 45,365 shares of company stock worth $5,412,663 over the last 90 days. Insiders own 0.79% of the company's stock.

FormFactor Price Performance

NASDAQ FORM opened at $116.70 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.55 and a quick ratio of 3.69. The stock's fifty day moving average price is $126.72 and its 200 day moving average price is $92.69. FormFactor, Inc. has a 1 year low of $26.08 and a 1 year high of $159.09. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 134.14 and a beta of 1.26.

FormFactor (NASDAQ:FORM - Get Free Report) last released its earnings results on Wednesday, April 29th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.11. FormFactor had a return on equity of 9.31% and a net margin of 8.14%.The firm had revenue of $226.14 million for the quarter, compared to the consensus estimate of $225.54 million. During the same period in the prior year, the firm earned $0.23 EPS. The firm's revenue was up 31.9% on a year-over-year basis. FormFactor has set its Q2 2026 guidance at 0.570-0.650 EPS. As a group, equities research analysts forecast that FormFactor, Inc. will post 2.03 earnings per share for the current year.

Analysts Set New Price Targets

FORM has been the topic of several research analyst reports. Stifel Nicolaus set a $135.00 target price on FormFactor in a research note on Thursday, April 30th. Wall Street Zen upgraded FormFactor from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Northland Securities set a $118.00 target price on FormFactor in a research note on Thursday, April 30th. Cantor Fitzgerald restated an "overweight" rating and set a $175.00 target price on shares of FormFactor in a research note on Monday, April 27th. Finally, Citigroup boosted their target price on FormFactor to $165.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $132.45.

FormFactor Profile

FormFactor, Inc NASDAQ: FORM is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor's product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.

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