Victory Capital Management Inc. Sells 304,595 Shares of FormFactor, Inc. (NASDAQ:FORM)

Victory Capital Management Inc. decreased its stake in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,243,846 shares of the semiconductor company's stock after selling 304,595 shares during the period. Victory Capital Management Inc. owned approximately 1.60% of FormFactor worth $51,881,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in FormFactor by 142.7% in the fourth quarter. Russell Investments Group Ltd. now owns 97,327 shares of the semiconductor company's stock valued at $4,060,000 after acquiring an additional 57,233 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in shares of FormFactor during the 4th quarter valued at approximately $209,000. GAMMA Investing LLC bought a new stake in shares of FormFactor during the 4th quarter valued at approximately $55,000. New York State Common Retirement Fund grew its holdings in shares of FormFactor by 11.1% during the 4th quarter. New York State Common Retirement Fund now owns 35,482 shares of the semiconductor company's stock valued at $1,480,000 after purchasing an additional 3,545 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in FormFactor by 3.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 46,933 shares of the semiconductor company's stock worth $1,958,000 after buying an additional 1,631 shares during the period. Institutional investors own 98.76% of the company's stock.

Analyst Upgrades and Downgrades

FORM has been the topic of several recent research reports. Craig Hallum lifted their target price on shares of FormFactor from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday. TD Cowen upped their price objective on shares of FormFactor from $37.00 to $48.00 and gave the company a "hold" rating in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of FormFactor from $36.00 to $42.00 and gave the company a "hold" rating in a research note on Tuesday, April 30th. Needham & Company LLC upped their price objective on shares of FormFactor from $46.00 to $53.00 and gave the company a "buy" rating in a research note on Thursday. Finally, TheStreet raised shares of FormFactor from a "c" rating to a "b-" rating in a research note on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $47.30.

Insider Activity

In related news, CFO Shai Shahar sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the sale, the chief financial officer now directly owns 67,141 shares of the company's stock, valued at $2,827,978.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $43.75, for a total value of $175,000.00. Following the sale, the chief executive officer now owns 491,781 shares in the company, valued at $21,515,418.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shai Shahar sold 10,000 shares of FormFactor stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the completion of the sale, the chief financial officer now owns 67,141 shares in the company, valued at approximately $2,827,978.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,000 shares of company stock worth $1,398,580. 0.96% of the stock is owned by company insiders.

FormFactor Stock Up 4.3 %

Shares of FORM stock traded up $2.25 on Friday, hitting $54.00. The stock had a trading volume of 1,045,249 shares, compared to its average volume of 505,847. The business has a 50 day moving average of $44.33 and a 200 day moving average of $40.63. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 40.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.51 and a quick ratio of 3.52. FormFactor, Inc. has a 12-month low of $24.88 and a 12-month high of $54.27.

FormFactor (NASDAQ:FORM - Get Free Report) last announced its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $168.16 million during the quarter, compared to the consensus estimate of $165.49 million. FormFactor had a net margin of 15.48% and a return on equity of 2.29%. As a group, analysts expect that FormFactor, Inc. will post 0.68 EPS for the current year.

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.