JPMorgan Chase & Co. cut its stake in FormFactor Inc. (NASDAQ:FORM) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 778,892 shares of the company’s stock after selling 175,483 shares during the period. JPMorgan Chase & Co. owned 1.31% of FormFactor worth $7,002,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FORM. Primecap Management Co. CA increased its position 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. Menta Capital LLC increased its position in 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 last quarter. Boothbay Fund Management LLC bought a new position in FormFactor during the first quarter valued at about $106,000. Bank of Montreal Can bought a new position in FormFactor during the second quarter valued at about $183,000. Finally, State Board of Administration of Florida Retirement System increased its position in FormFactor by 5.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 65,911 shares of the company’s stock valued at $593,000 after buying an additional 3,357 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.
Shares of FormFactor Inc. (NASDAQ:FORM) traded up 0.93% during mid-day trading on Monday, hitting $10.90. 35,493 shares of the stock traded hands. The firm has a market capitalization of $769.16 million, a P/E ratio of 32.34 and a beta of 0.95. The company’s 50 day moving average is $10.35 and its 200 day moving average is $8.81. FormFactor Inc. has a one year low of $6.15 and a one year high of $11.19.
FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm earned $83.10 million during the quarter, compared to analysts’ expectations of $78.23 million. FormFactor had a net margin of 7.27% and a return on equity of 0.11%. The company’s revenue for the quarter was up 55.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share. On average, equities analysts expect that FormFactor Inc. will post $0.45 EPS for the current fiscal year.
Several research analysts have recently issued reports on FORM shares. Needham & Company LLC boosted their price objective on shares of FormFactor from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, June 27th. B. Riley restated a “buy” rating and set a $11.00 price objective on shares of FormFactor in a report on Tuesday, June 28th. Zacks Investment Research upgraded shares of FormFactor from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, June 30th. Stifel Nicolaus upgraded shares of FormFactor from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, August 2nd. Finally, Citigroup Inc. boosted their price objective on shares of FormFactor from $8.25 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Two 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 an average rating of “Buy” and an average price target of $12.17.
In other FormFactor news, Director Richard Delateur sold 10,000 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $10.74, for a total value of $107,400.00. Following the completion of the sale, the director now owns 22,000 shares in the company, valued at $236,280. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis Thomas St sold 23,120 shares of the stock in a transaction 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 completion of the sale, the director now owns 164,933 shares of the company’s stock, valued at approximately $1,733,445.83. The disclosure for this sale can be found here. 2.84% of the stock is currently owned by company 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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