Systematic Financial Management LP lessened its stake in shares of FormFactor, Inc. (NASDAQ:FORM) by 21.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 304,765 shares of the semiconductor company’s stock after selling 81,715 shares during the quarter. Systematic Financial Management LP owned about 0.42% of FormFactor worth $3,779,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Suntrust Banks Inc. purchased a new position in FormFactor in the first quarter worth $122,000. Great West Life Assurance Co. Can raised its position in FormFactor by 214.9% in the second quarter. Great West Life Assurance Co. Can now owns 12,462 shares of the semiconductor company’s stock worth $154,000 after acquiring an additional 8,505 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in FormFactor in the first quarter worth $160,000. Bourgeon Capital Management LLC raised its position in FormFactor by 50.0% in the second quarter. Bourgeon Capital Management LLC now owns 15,000 shares of the semiconductor company’s stock worth $186,000 after acquiring an additional 5,000 shares in the last quarter. Finally, KCG Holdings Inc. raised its position in FormFactor by 14.7% in the first quarter. KCG Holdings Inc. now owns 16,500 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 2,120 shares in the last quarter. Institutional investors and hedge funds own 87.42% of the company’s stock.
Shares of FormFactor, Inc. (NASDAQ:FORM) opened at 15.50 on Wednesday. The firm’s market cap is $1.12 billion. The company’s 50 day moving average price is $14.12 and its 200-day moving average price is $12.86. FormFactor, Inc. has a 1-year low of $8.55 and a 1-year high of $15.75.
FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. FormFactor had a positive return on equity of 15.62% and a negative net margin of 1.32%. The business had revenue of $144.00 million for the quarter, compared to the consensus estimate of $134.53 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. FormFactor’s revenue for the quarter was up 73.3% compared to the same quarter last year. Equities analysts expect that FormFactor, Inc. will post $1.22 EPS for the current fiscal year.
In other FormFactor news, CFO Michael M. Ludwig sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $14.07, for a total value of $140,700.00. Following the transaction, the chief financial officer now owns 267,977 shares in the company, valued at $3,770,436.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael W. Zellner sold 3,725 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $15.26, for a total value of $56,843.50. Following the completion of the transaction, the director now owns 63,000 shares in the company, valued at approximately $961,380. The disclosure for this sale can be found here. Insiders sold 43,725 shares of company stock worth $623,844 in the last 90 days. Corporate insiders own 2.84% of the company’s stock.
Several analysts have weighed in on the company. Zacks Investment Research lowered FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. ValuEngine raised FormFactor from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of FormFactor in a report on Thursday, June 22nd. Sidoti reissued a “buy” rating and issued a $18.00 target price (up previously from $15.00) on shares of FormFactor in a report on Wednesday, June 14th. Finally, BidaskClub raised FormFactor from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. FormFactor has a consensus rating of “Buy” and an average target price of $17.00.
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FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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