Jennison Associates LLC bought a new position in FormFactor, Inc. (NASDAQ:FORM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 25,513 shares of the semiconductor company’s stock, valued at approximately $1,098,000.
Several other institutional investors and hedge funds also recently modified their holdings of FORM. FMR LLC increased its stake in shares of FormFactor by 261,685.1% in the 1st quarter. FMR LLC now owns 1,020,962 shares of the semiconductor company’s stock worth $16,427,000 after acquiring an additional 1,020,572 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of FormFactor by 10.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 95,103 shares of the semiconductor company’s stock worth $2,371,000 after purchasing an additional 9,209 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of FormFactor by 57.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,500 shares of the semiconductor company’s stock worth $137,000 after purchasing an additional 2,000 shares during the period. Alberta Investment Management Corp grew its holdings in shares of FormFactor by 23.8% during the 3rd quarter. Alberta Investment Management Corp now owns 64,500 shares of the semiconductor company’s stock worth $1,608,000 after purchasing an additional 12,400 shares during the period. Finally, Integrated Investment Consultants LLC grew its holdings in shares of FormFactor by 62.9% during the 3rd quarter. Integrated Investment Consultants LLC now owns 15,005 shares of the semiconductor company’s stock worth $374,000 after purchasing an additional 5,796 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.
Shares of FormFactor stock opened at $47.45 on Tuesday. The business has a 50-day moving average of $46.60 and a 200 day moving average of $36.04. FormFactor, Inc. has a 12 month low of $16.35 and a 12 month high of $52.39. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 47.93 and a beta of 1.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.35 and a quick ratio of 2.65.
In other FormFactor news, CEO Mike Slessor sold 25,000 shares of the stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $46.27, for a total value of $1,156,750.00. Following the sale, the chief executive officer now owns 384,219 shares of the company’s stock, valued at approximately $17,777,813.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward Rogas, Jr. sold 18,000 shares of the stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $48.75, for a total value of $877,500.00. 1.22% of the stock is owned by company insiders.
A number of equities analysts have recently weighed in on the company. Craig Hallum increased their price target on FormFactor from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. B. Riley increased their price target on FormFactor from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 25th. Cowen increased their price target on FormFactor from $45.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, February 4th. Citigroup raised their target price on FormFactor from $36.00 to $57.00 in a report on Monday, January 25th. Finally, DA Davidson cut FormFactor from a “buy” rating to a “neutral” rating and raised their target price for the company from $36.00 to $50.00 in a report on Tuesday, January 26th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $43.67.
FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, and thermal sub-systems. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip, mobile application processors, microprocessors, microcontrollers, graphic processors, radio frequency, analog, mixed signal, image sensors, electro-optical, DRAM 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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