Nationwide Fund Advisors increased its stake in FormFactor Inc. (NASDAQ:FORM) by 29.2% during the second quarter, Holdings Channel reports. The institutional investor owned 185,497 shares of the company’s stock after buying an additional 41,873 shares during the period. Nationwide Fund Advisors owned 0.31% of FormFactor worth $1,668,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in FormFactor by 60.5% in the first quarter. JPMorgan Chase & Co. now owns 954,375 shares of the company’s stock valued at $6,938,000 after buying an additional 359,700 shares in the last quarter. Royce & Associates LP raised its stake in shares of FormFactor by 31.3% in the first quarter. Royce & Associates LP now owns 1,214,207 shares of the company’s stock valued at $8,827,000 after buying an additional 289,147 shares during the period. Menta Capital LLC raised its stake in shares of FormFactor by 85.2% in the first quarter. Menta Capital LLC now owns 31,213 shares of the company’s stock valued at $227,000 after buying an additional 14,357 shares during the period. Primecap Management Co. CA raised its stake in shares of FormFactor by 1.4% in the first quarter. Primecap Management Co. CA now owns 8,336,959 shares of the company’s stock valued at $60,610,000 after buying an additional 114,041 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of FormFactor during the first quarter valued at $9,595,000. Institutional investors own 89.43% of the company’s stock.
FormFactor Inc. (NASDAQ:FORM) opened at 10.38 on Monday. FormFactor Inc. has a one year low of $6.15 and a one year high of $11.19. The company has a market capitalization of $732.46 million, a P/E ratio of 30.80 and a beta of 0.95. The company’s 50-day moving average is $10.33 and its 200 day moving average is $8.90.
FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company had revenue of $83.10 million for the quarter, compared to analyst estimates of $78.23 million. FormFactor had a net margin of 7.27% and a return on equity of 0.11%. The company’s revenue was up 55.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. Analysts predict that FormFactor Inc. will post $0.45 EPS for the current year.
Several brokerages have recently weighed in on FORM. Zacks Investment Research lowered shares of FormFactor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Craig Hallum began coverage on shares of FormFactor in a research report on Thursday, September 22nd. They set a “buy” rating and a $14.00 target price on the stock. TheStreet upgraded shares of FormFactor from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Citigroup Inc. lifted their target price on shares of FormFactor from $8.25 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $13.00 target price (up from $11.00) on shares of FormFactor in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.17.
In related news, Director Dennis Thomas St sold 23,120 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $10.51, for a total value of $242,991.20. Following the transaction, the director now directly owns 164,933 shares in the company, valued at $1,733,445.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Delateur sold 10,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $10.74, for a total transaction of $107,400.00. Following the completion of the transaction, the director now owns 22,000 shares in the company, valued at $236,280. The disclosure for this sale can be found here. 2.84% of the stock is currently owned by corporate insiders.
FormFactor Company Profile
FormFactor, Inc designs, develops, manufactures, sells and supports semiconductor probe card products. The Company is a supplier of probe cards to the manufacturers of dynamic random-access memory (DRAM), flash memory devices, microprocessor, chipset and other system on chip (SoC) devices. Semiconductor manufacturers use its probe cards to perform wafer test, which is the testing of the semiconductor die, or chips.
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