United Services Automobile Association lowered its position in FormFactor, Inc. (NASDAQ:FORM) by 26.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 281,778 shares of the semiconductor company’s stock after selling 101,095 shares during the period. United Services Automobile Association’s holdings in FormFactor were worth $3,339,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in FORM. Russell Investments Group Ltd. bought a new position in FormFactor during the fourth quarter worth about $5,727,000. State Street Corp boosted its position in FormFactor by 7.9% in the fourth quarter. State Street Corp now owns 1,263,833 shares of the semiconductor company’s stock worth $14,155,000 after buying an additional 92,544 shares during the period. Dimensional Fund Advisors LP boosted its position in FormFactor by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,274,906 shares of the semiconductor company’s stock worth $59,079,000 after buying an additional 301,607 shares during the period. Putnam Investments LLC boosted its position in FormFactor by 4.4% in the fourth quarter. Putnam Investments LLC now owns 798,261 shares of the semiconductor company’s stock worth $8,941,000 after buying an additional 33,572 shares during the period. Finally, Norges Bank bought a new position in FormFactor during the fourth quarter worth about $8,524,000. 87.79% of the stock is currently owned by institutional investors.
Shares of FormFactor, Inc. (NASDAQ FORM) traded down 1.49% during trading on Tuesday, reaching $13.25. 122,900 shares of the company traded hands. The stock has a market capitalization of $955.60 million, a P/E ratio of 72.80 and a beta of 1.59. The firm’s 50 day moving average is $13.84 and its 200-day moving average is $12.07. FormFactor, Inc. has a 12-month low of $8.31 and a 12-month high of $15.58.
FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The business had revenue of $128.80 million for the quarter, compared to analysts’ expectations of $124.07 million. FormFactor had a net margin of 2.71% and a return on equity of 11.02%. The business’s revenue was up 140.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) earnings per share. On average, equities research analysts anticipate that FormFactor, Inc. will post $1.02 earnings per share for the current fiscal year.
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A number of equities analysts have recently issued reports on FORM shares. TheStreet cut shares of FormFactor from a “b-” rating to a “c+” rating in a research report on Friday, February 24th. Sidoti initiated coverage on shares of FormFactor in a research report on Friday, March 10th. They set a “buy” rating and a $15.00 price objective on the stock. Zacks Investment Research cut shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of FormFactor in a research report on Monday, May 1st. Finally, B. Riley reaffirmed a “buy” rating and issued a $17.00 price target on shares of FormFactor in a research report on Thursday, May 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. FormFactor has a consensus rating of “Buy” and an average price target of $15.63.
In other news, Director Richard Delateur sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $13.80, for a total value of $1,104,000.00. Following the transaction, the director now owns 90,000 shares in the company, valued at $1,242,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward Rogas, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $13.90, for a total transaction of $83,400.00. Following the completion of the transaction, the director now owns 56,000 shares in the company, valued at approximately $778,400. The disclosure for this sale can be found here. In the last 90 days, insiders sold 479,083 shares of company stock worth $6,853,928. Corporate insiders own 2.84% of the company’s stock.
FormFactor Company Profile
FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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