Ellington Management Group LLC purchased a new position in FormFactor (NASDAQ:FORM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,900 shares of the semiconductor company’s stock, valued at approximately $390,000.
A number of other institutional investors have also recently modified their holdings of FORM. Parametric Portfolio Associates LLC lifted its stake in FormFactor by 198.6% in the second quarter. Parametric Portfolio Associates LLC now owns 71,924 shares of the semiconductor company’s stock worth $892,000 after acquiring an additional 47,835 shares during the last quarter. State Street Corp lifted its stake in FormFactor by 5.3% in the second quarter. State Street Corp now owns 1,327,001 shares of the semiconductor company’s stock worth $16,454,000 after acquiring an additional 66,847 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in FormFactor by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 56,360 shares of the semiconductor company’s stock worth $699,000 after acquiring an additional 2,731 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of FormFactor by 6.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 75,958 shares of the semiconductor company’s stock worth $1,280,000 after buying an additional 4,616 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its position in shares of FormFactor by 4.3% during the 3rd quarter. State of Wisconsin Investment Board now owns 600,000 shares of the semiconductor company’s stock worth $10,110,000 after buying an additional 25,000 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.
Shares of FormFactor stock traded down $0.50 during trading on Friday, reaching $13.15. The company’s stock had a trading volume of 675,264 shares, compared to its average volume of 1,538,608. The stock has a market capitalization of $1,008.69, a price-to-earnings ratio of 13.15, a PEG ratio of 0.84 and a beta of 1.34. FormFactor has a fifty-two week low of $10.45 and a fifty-two week high of $18.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.32 and a quick ratio of 2.58.
FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, February 7th. The semiconductor company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). The business had revenue of $131.90 million during the quarter, compared to analyst estimates of $129.98 million. FormFactor had a net margin of 7.46% and a return on equity of 16.81%. analysts anticipate that FormFactor will post 1.02 earnings per share for the current year.
Several analysts have recently weighed in on FORM shares. Needham & Company LLC upgraded shares of FormFactor from a “buy” rating to a “strong-buy” rating and boosted their price objective for the stock from $20.00 to $22.00 in a research report on Thursday, December 14th. BidaskClub downgraded shares of FormFactor from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th. Northland Securities started coverage on shares of FormFactor in a research report on Tuesday. They set an “outperform” rating and a $21.00 price objective for the company. B. Riley restated a “buy” rating and set a $20.00 price objective (down previously from $22.00) on shares of FormFactor in a research report on Monday, January 29th. Finally, Citigroup reduced their price objective on shares of FormFactor from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $18.43.
In other news, CFO Michael M. Ludwig sold 30,000 shares of FormFactor stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $12.73, for a total value of $381,900.00. Following the transaction, the chief financial officer now directly owns 270,387 shares of the company’s stock, valued at approximately $3,442,026.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis Thomas St sold 20,867 shares of FormFactor stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $13.58, for a total transaction of $283,373.86. Following the completion of the transaction, the director now directly owns 61,533 shares in the company, valued at $835,618.14. The disclosure for this sale can be found here. Insiders sold a total of 98,431 shares of company stock worth $1,286,460 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.
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FormFactor Company Profile
FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.
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