First Trust Advisors LP Takes $1.93 Million Position in FormFactor, Inc. (FORM)
First Trust Advisors LP acquired a new stake in FormFactor, Inc. (NASDAQ:FORM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 155,627 shares of the semiconductor company’s stock, valued at approximately $1,930,000. First Trust Advisors LP owned about 0.22% of FormFactor as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Monarch Partners Asset Management LLC boosted its stake in shares of FormFactor by 225.6% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 589,571 shares of the semiconductor company’s stock valued at $7,311,000 after purchasing an additional 408,495 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of FormFactor by 6.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 334,956 shares of the semiconductor company’s stock valued at $4,154,000 after purchasing an additional 20,777 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of FormFactor in the 2nd quarter valued at $1,674,000. Trexquant Investment LP boosted its stake in FormFactor by 26.9% during the second quarter. Trexquant Investment LP now owns 26,710 shares of the semiconductor company’s stock worth $331,000 after acquiring an additional 5,662 shares in the last quarter. Finally, Algert Global LLC bought a new position in FormFactor during the second quarter worth $1,950,000. 87.42% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $17.00 target price on shares of FormFactor in a research note on Saturday, July 1st. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of FormFactor in a research note on Tuesday. Zacks Investment Research raised shares of FormFactor from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, August 9th. BidaskClub lowered shares of FormFactor from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, DA Davidson reissued a “buy” rating and set a $20.00 target price on shares of FormFactor in a research note on Thursday, August 31st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. FormFactor currently has an average rating of “Buy” and a consensus target price of $17.00.
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In other news, Director Michael W. Zellner sold 3,725 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.26, for a total transaction of $56,843.50. Following the sale, the director now owns 63,000 shares in the company, valued at approximately $961,380. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael M. Ludwig sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $14.07, for a total transaction of $140,700.00. Following the sale, the chief financial officer now owns 267,977 shares in the company, valued at approximately $3,770,436.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,725 shares of company stock worth $623,844. 2.84% of the stock is currently owned by company insiders.
FormFactor, Inc. (NASDAQ:FORM) opened at 15.50 on Wednesday. FormFactor, Inc. has a 52 week low of $8.55 and a 52 week high of $15.75. The company’s 50-day moving average is $14.12 and its 200 day moving average is $12.86. The company’s market capitalization is $1.12 billion.
FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The business had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $134.53 million. FormFactor had a negative net margin of 1.32% and a positive return on equity of 15.62%. The firm’s revenue for the quarter was up 73.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. On average, analysts forecast that FormFactor, Inc. will post $1.22 EPS for the current fiscal year.
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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