By otakuyassine3@gmail.com 
CIBC Asset Management Inc purchased a new stake in shares of FormFactor, Inc. (NASDAQ:FORM – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,313 shares of the semiconductor company’s stock, valued at approximately $234,000.
Other hedge funds also recently bought and sold shares of the company. Creative Planning increased its stake in shares of FormFactor by 45.9% during the third quarter. Creative Planning now owns 14,884 shares of the semiconductor company’s stock valued at $685,000 after buying an additional 4,684 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in FormFactor by 9.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,898 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 573 shares during the period. Pinnacle Associates Ltd. boosted its holdings in FormFactor by 1.6% in the third quarter. Pinnacle Associates Ltd. now owns 372,378 shares of the semiconductor company’s stock valued at $17,129,000 after acquiring an additional 5,867 shares in the last quarter. US Bancorp DE increased its position in FormFactor by 55.9% during the 3rd quarter. US Bancorp DE now owns 3,401 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 1,219 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in FormFactor by 876.0% in the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock worth $14,876,000 after purchasing an additional 290,254 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.
Insider Activity at FormFactor
In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the completion of the transaction, the chief executive officer now owns 522,531 shares of the company’s stock, valued at $23,221,277.64. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 12,000 shares of company stock valued at $496,040 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.
FormFactor Stock Performance
Shares of FormFactor stock opened at $33.99 on Wednesday. FormFactor, Inc. has a 12 month low of $32.71 and a 12 month high of $63.63. The company has a current ratio of 4.61, a quick ratio of 3.83 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2.63 billion, a P/E ratio of 38.19 and a beta of 1.07. The business has a fifty day simple moving average of $41.37 and a two-hundred day simple moving average of $43.05.
FormFactor (NASDAQ:FORM – Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. On average, equities analysts forecast that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. TD Cowen cut their target price on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Evercore ISI cut their target price on shares of FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus cut their target price on shares of FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research note on Thursday, February 6th. Finally, Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $51.00 in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.50.
Check Out Our Latest Report on FormFactor
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.
See Also
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