State Board of Administration of Florida Retirement System boosted its stake in FormFactor Inc. (NASDAQ:FORM) by 5.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 65,911 shares of the company’s stock after buying an additional 3,357 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of FormFactor worth $593,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boothbay Fund Management LLC purchased a new position in FormFactor during the first quarter valued at approximately $106,000. Strs Ohio bought a new position in FormFactor during the second quarter valued at about $175,000. Bank of Montreal Can bought a new position in FormFactor during the second quarter valued at about $183,000. Algert Global LLC boosted its position in FormFactor by 78.8% in the first quarter. Algert Global LLC now owns 28,827 shares of the company’s stock valued at $210,000 after buying an additional 12,707 shares during the period. Finally, Monarch Partners Asset Management LLC boosted its position in FormFactor by 23.1% in the second quarter. Monarch Partners Asset Management LLC now owns 31,140 shares of the company’s stock valued at $280,000 after buying an additional 5,840 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.
Shares of FormFactor Inc. (NASDAQ:FORM) traded down 0.37% during mid-day trading on Tuesday, reaching $10.67. 122,983 shares of the company were exchanged. The firm has a 50-day moving average price of $10.30 and a 200 day moving average price of $8.73. FormFactor Inc. has a 12 month low of $6.15 and a 12 month high of $11.19. The stock has a market capitalization of $752.93 million, a P/E ratio of 31.66 and a beta of 0.95.
FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. FormFactor had a net margin of 7.27% and a return on equity of 0.11%. The firm earned $83.10 million during the quarter, compared to the consensus estimate of $78.23 million. During the same period last year, the firm posted $0.11 EPS. The firm’s quarterly revenue was up 55.0% on a year-over-year basis. Equities research analysts anticipate that FormFactor Inc. will post $0.45 EPS for the current fiscal year.
Several research firms have recently issued reports on FORM. Craig Hallum began coverage on shares of FormFactor in a report on Thursday, September 22nd. They issued a “buy” rating and a $14.00 price objective for the company. TheStreet upgraded shares of FormFactor from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Citigroup Inc. increased their price objective on shares of FormFactor from $8.25 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective (up from $11.00) on shares of FormFactor in a report on Wednesday, August 3rd. Finally, B. Riley reiterated a “buy” rating and issued a $13.00 price objective on shares of FormFactor in a report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $12.17.
In related news, Director Richard Delateur sold 10,000 shares of FormFactor 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 directly owns 22,000 shares of the company’s stock, valued at approximately $236,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis Thomas St sold 23,120 shares of FormFactor stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $10.51, for a total transaction of $242,991.20. Following the transaction, the director now directly owns 164,933 shares of the company’s stock, valued at $1,733,445.83. The disclosure for this sale can be found here. Corporate insiders own 2.84% of the company’s stock.
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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