Select Equity Group L.P. Invests $2.72 Million in FormFactor, Inc. (NASDAQ:FORM)

Select Equity Group L.P. acquired a new position in FormFactor, Inc. (NASDAQ:FORM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 61,799 shares of the semiconductor company’s stock, valued at approximately $2,719,000. Select Equity Group L.P. owned approximately 0.08% of FormFactor at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pinpoint Asset Management Ltd purchased a new stake in FormFactor in the 4th quarter worth $43,000. Manchester Capital Management LLC increased its stake in FormFactor by 63.8% in the 4th quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after buying an additional 440 shares in the last quarter. IFP Advisors Inc increased 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 buying an additional 1,609 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in FormFactor by 146.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,986 shares of the semiconductor company’s stock worth $90,000 after buying an additional 1,181 shares in the last quarter. Finally, KBC Group NV increased its stake in FormFactor by 90.0% in the 4th quarter. KBC Group NV now owns 3,625 shares of the semiconductor company’s stock worth $160,000 after buying an additional 1,717 shares in the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Stock Down 2.3%

Shares of NASDAQ:FORM opened at $32.06 on Friday. The company has a current ratio of 4.61, a quick ratio of 3.83 and a debt-to-equity ratio of 0.01. FormFactor, Inc. has a 12 month low of $22.58 and a 12 month high of $63.63. The company has a 50-day moving average price of $28.90 and a 200 day moving average price of $36.31. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 36.02 and a beta of 1.14.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. FormFactor had a net margin of 9.12% and a return on equity of 5.93%. The firm had revenue of $171.36 million during the quarter, compared to the consensus estimate of $170.03 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities research analysts predict that FormFactor, Inc. will post 0.9 earnings per share for the current year.

Insider Activity at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $28.24, for a total value of $112,960.00. Following the completion of the transaction, the chief executive officer now owns 514,650 shares of the company’s stock, valued at approximately $14,533,716. This trade represents a 0.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Evercore ISI cut their price target on 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 reiterated a “hold” rating on shares of FormFactor in a research note on Thursday, May 1st. B. Riley increased their price objective on shares of FormFactor from $26.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Stifel Nicolaus dropped their price objective on shares of 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 price objective on shares of FormFactor from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.71.

FormFactor 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.