Bank of New York Mellon Corp reduced its position in FormFactor Inc. (NASDAQ:FORM) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 411,621 shares of the company’s stock after selling 123 shares during the period. Bank of New York Mellon Corp owned about 0.70% of FormFactor worth $3,700,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in shares of FormFactor during the first quarter worth approximately $9,595,000. Hood River Capital Management LLC acquired a new position in FormFactor during the second quarter valued at about $5,946,000. JPMorgan Chase & Co. boosted its position 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 during the period. Royce & Associates LP boosted its position in 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. Finally, Mckinley Capital Management LLC Delaware acquired a new position in FormFactor during the first quarter valued at about $2,035,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.
FormFactor Inc. (NASDAQ:FORM) traded up 1.88% during trading on Wednesday, hitting $10.83. The stock had a trading volume of 437,295 shares. FormFactor Inc. has a 12 month low of $6.15 and a 12 month high of $11.19. The firm has a 50 day moving average of $10.23 and a 200-day moving average of $8.64. The stock has a market cap of $764.22 million, a price-to-earnings ratio of 32.14 and a beta of 1.14.
FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 earnings per share (EPS) 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%. FormFactor’s revenue was up 55.0% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. Equities analysts predict that FormFactor Inc. will post $0.45 earnings per share for the current year.
Several research firms recently issued reports on FORM. Craig Hallum began coverage on FormFactor in a research report on Thursday, September 22nd. They issued a “buy” rating and a $14.00 price objective on the stock. TheStreet raised FormFactor from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Citigroup Inc. upped their price objective on FormFactor from $8.25 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective (up from $11.00) on shares of FormFactor in a research report on Wednesday, August 3rd. Finally, B. Riley reaffirmed a “buy” rating and issued a $13.00 price objective on shares of FormFactor in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock 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 that occurred on Monday, August 22nd. The shares were sold at an average price of $10.74, for a total transaction of $107,400.00. Following the transaction, the director now directly owns 22,000 shares of the company’s stock, valued at $236,280. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dennis Thomas St sold 23,120 shares of FormFactor stock in a transaction that occurred on 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 in the company, 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, 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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