UBS Group AG grew its holdings in shares of FormFactor, Inc. (NASDAQ:FORM – Free Report) by 38.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,393 shares of the semiconductor company’s stock after buying an additional 79,240 shares during the quarter. UBS Group AG owned 0.37% of FormFactor worth $15,808,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of FormFactor during the 3rd quarter valued at about $508,000. State of New Jersey Common Pension Fund D raised its position in FormFactor by 24.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 76,376 shares of the semiconductor company’s stock worth $2,782,000 after purchasing an additional 15,186 shares during the period. Reinhart Partners LLC. raised its position in FormFactor by 26.3% in the 3rd quarter. Reinhart Partners LLC. now owns 2,404,854 shares of the semiconductor company’s stock worth $87,585,000 after purchasing an additional 500,156 shares during the period. ProShare Advisors LLC raised its position in FormFactor by 68.8% in the 3rd quarter. ProShare Advisors LLC now owns 29,336 shares of the semiconductor company’s stock worth $1,068,000 after purchasing an additional 11,956 shares during the period. Finally, Shannon River Fund Management LLC purchased a new stake in FormFactor in the 3rd quarter worth about $35,260,000. 98.76% of the stock is currently owned by hedge funds and other institutional investors.
FormFactor Stock Performance
Shares of NASDAQ:FORM opened at $129.31 on Thursday. The firm has a market cap of $10.08 billion, a PE ratio of 148.63 and a beta of 1.32. The firm’s 50 day simple moving average is $115.77 and its 200-day simple moving average is $84.08. FormFactor, Inc. has a one year low of $26.08 and a one year high of $159.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.69 and a current ratio of 4.55.
Key Headlines Impacting FormFactor
Here are the key news stories impacting FormFactor this week:
- Positive Sentiment: Craig Hallum upgraded FormFactor from Hold to Buy and set a higher price target, signaling stronger conviction in the stock’s upside and reinforcing the recent bullish move. FormFactor (NASDAQ:FORM) Upgraded to “Buy” at Craig Hallum
- Positive Sentiment: B. Riley Financial raised its price target on FormFactor, indicating analysts see more room for shares to run despite keeping a neutral rating. FormFactor (NASDAQ:FORM) Given New $165.00 Price Target at B. Riley Financial
- Positive Sentiment: FormFactor said TechInsights ranked it the global #1 supplier in both Test Subsystems and Focused Suppliers of Chip Making Equipment, highlighting strong customer satisfaction and market leadership. FormFactor Sets the Global Standard as #1 in Test Subsystems and Focused Chip Making Equipment
- Positive Sentiment: Commentary on FormFactor’s strong earnings emphasized that the company’s recent results support the view that its underlying business remains healthy. The Strong Earnings Posted By FormFactor (NASDAQ:FORM) Are A Good Indication Of The Strength Of The Business
- Neutral Sentiment: Needham kept a Hold rating, saying FormFactor’s long-term growth plan and AI tailwinds may already be reflected in the stock. FormFactor Kept at Hold as Long-Term Growth Plan and AI Tailwinds Are Seen as Priced In
- Neutral Sentiment: Recent coverage highlighted that FormFactor has been up strongly over the past week, but this was more a recap of momentum than a new company-specific catalyst. FormFactor (FORM) Is Up 7.64% in One Week: What You Should Know
- Neutral Sentiment: CEO remarks that semiconductor demand should continue were supportive of the industry backdrop, but did not include a major new financial update. FormFactor CEO: Key indicators showing semiconductor demand will continue
Insider Activity
In other news, Director Brian C. White sold 2,300 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $100.01, for a total transaction of $230,023.00. Following the transaction, the director directly owned 10,556 shares in the company, valued at approximately $1,055,705.56. This trade represents a 17.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aric Brendan Mckinnis sold 3,462 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $90.42, for a total transaction of $313,034.04. Following the transaction, the chief financial officer owned 11,140 shares in the company, valued at approximately $1,007,278.80. This represents a 23.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 35,947 shares of company stock worth $3,774,255. Corporate insiders own 0.79% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of FormFactor from $80.00 to $150.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Itau BBA Securities raised shares of FormFactor to an “outperform” rating in a research report on Tuesday, January 27th. Weiss Ratings raised shares of FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of FormFactor from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Stifel Nicolaus set a $135.00 price objective on shares of FormFactor in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $132.45.
Check Out Our Latest Stock Report on FORM
FormFactor Company Profile
FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.
FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.
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