First Trust Advisors LP Sells 151,785 Shares of FormFactor, Inc. (NASDAQ:FORM)

First Trust Advisors LP reduced its holdings in FormFactor, Inc. (NASDAQ:FORM) by 74.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,420 shares of the semiconductor company’s stock after selling 151,785 shares during the quarter. First Trust Advisors LP owned 0.07% of FormFactor worth $2,262,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. D.A. Davidson & CO. raised its holdings in FormFactor by 5.5% during the 4th quarter. D.A. Davidson & CO. now owns 5,510 shares of the semiconductor company’s stock worth $242,000 after buying an additional 288 shares during the period. Aviva PLC lifted its position in FormFactor by 2.3% in the 4th quarter. Aviva PLC now owns 14,750 shares of the semiconductor company’s stock valued at $649,000 after acquiring an additional 331 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in FormFactor by 5.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 400 shares during the period. Manchester Capital Management LLC increased its holdings in FormFactor by 63.8% during the 4th quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 440 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of FormFactor by 10.1% in the 4th quarter. Xponance Inc. now owns 5,582 shares of the semiconductor company’s stock valued at $246,000 after purchasing an additional 511 shares during the period. Institutional investors and hedge funds own 98.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FORM. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research report on Thursday. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Evercore ISI cut their price objective 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. Stifel Nicolaus reduced their target price on shares of FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, DA Davidson lowered their price target on shares of FormFactor from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.71.

FormFactor Trading Up 4.5 %

Shares of NASDAQ:FORM opened at $30.26 on Monday. FormFactor, Inc. has a 52-week low of $22.58 and a 52-week high of $63.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61. The company has a market capitalization of $2.33 billion, a P/E ratio of 34.00 and a beta of 1.14. The company has a 50-day simple moving average of $29.16 and a 200 day simple moving average of $37.16.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. FormFactor had a return on equity of 5.93% and a net margin of 9.12%. The company had revenue of $171.36 million during the quarter, compared to the consensus estimate of $170.03 million. During the same period in the previous year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that FormFactor, Inc. will post 0.9 earnings per share for the current year.

Insider Activity

In other FormFactor 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 sale, the chief executive officer now directly owns 510,650 shares in the company, valued at $16,197,818. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

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.