Ethic Inc. Grows Stake in FormFactor, Inc. (NASDAQ:FORM)

Ethic Inc. grew its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 69.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,294 shares of the semiconductor company’s stock after purchasing an additional 3,825 shares during the period. Ethic Inc.’s holdings in FormFactor were worth $409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pinpoint Asset Management Ltd purchased a new stake in FormFactor in the fourth quarter valued at about $43,000. Manchester Capital Management LLC raised its position in shares of FormFactor by 63.8% in the 4th quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 440 shares during the last quarter. IFP Advisors Inc boosted its stake in FormFactor by 4,732.4% in the 4th quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,609 shares in the last quarter. Smartleaf Asset Management LLC grew its position in FormFactor by 146.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,986 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 1,181 shares during the last quarter. Finally, KBC Group NV increased its stake in FormFactor by 90.0% during the 4th quarter. KBC Group NV now owns 3,625 shares of the semiconductor company’s stock valued at $160,000 after purchasing an additional 1,717 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FORM. Evercore ISI lowered their price objective on shares of FormFactor from $43.00 to $33.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research report on Thursday, May 1st. B. Riley increased their price objective on FormFactor from $26.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Stifel Nicolaus decreased their target price on 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 dropped their target price on FormFactor from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, FormFactor currently has a consensus rating of “Hold” and an average price target of $42.71.

FormFactor Stock Down 2.3%

Shares of FORM opened at $32.06 on Friday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 36.02 and a beta of 1.14. FormFactor, Inc. has a 52 week low of $22.58 and a 52 week high of $63.63. The stock’s 50-day moving average price is $28.90 and its 200-day moving average price is $36.37. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $171.36 million for the quarter, compared to analyst estimates of $170.03 million. FormFactor had a return on equity of 5.93% and a net margin of 9.12%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, sell-side analysts predict that FormFactor, Inc. will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $31.72, for a total transaction of $126,880.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.