Public Sector Pension Investment Board Acquires 52,638 Shares of FormFactor, Inc. (NASDAQ:FORM)

Public Sector Pension Investment Board grew its holdings in FormFactor, Inc. (NASDAQ:FORM) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 245,643 shares of the semiconductor company’s stock after purchasing an additional 52,638 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of FormFactor worth $6,949,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FORM. Bank of Montreal Can raised its holdings in shares of FormFactor by 6.9% in the 4th quarter. Bank of Montreal Can now owns 9,473 shares of the semiconductor company’s stock valued at $417,000 after purchasing an additional 610 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of FormFactor in the 4th quarter valued at about $202,000. Raymond James Financial Inc. bought a new position in shares of FormFactor during the 4th quarter worth approximately $14,222,000. Summit Investment Advisors Inc. raised its stake in shares of FormFactor by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock worth $356,000 after acquiring an additional 400 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of FormFactor by 2.5% during the 4th quarter. Barclays PLC now owns 149,107 shares of the semiconductor company’s stock worth $6,561,000 after acquiring an additional 3,615 shares in the last quarter. Institutional investors own 98.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on FORM shares. B. Riley boosted their price objective on shares of FormFactor from $26.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Wall Street Zen lowered shares of FormFactor from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Evercore ISI reduced 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. Stifel Nicolaus reduced their price objective on shares of FormFactor from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, July 31st. Finally, DA Davidson reduced their price objective on shares of FormFactor from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.14.

FormFactor Trading Down 5.1%

Shares of FormFactor stock opened at $28.70 on Friday. The company has a current ratio of 4.24, a quick ratio of 3.34 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 $51.68. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 51.25 and a beta of 1.16. The firm’s 50 day simple moving average is $33.39 and its two-hundred day simple moving average is $32.12.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). FormFactor had a net margin of 5.75% and a return on equity of 5.57%. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $190.17 million. During the same quarter in the previous year, the company posted $0.35 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts predict that FormFactor, Inc. will post 0.9 EPS for the current year.

Insider Buying and Selling at FormFactor

In other news, Director Rebeca Obregon-Jimenez sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $29.55, for a total value of $118,200.00. Following the sale, the director directly owned 13,126 shares of the company’s stock, valued at $387,873.30. This represents a 23.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis Thomas St sold 3,000 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $31.24, for a total transaction of $93,720.00. Following the completion of the sale, the director directly owned 40,957 shares in the company, valued at $1,279,496.68. This trade represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

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.