FormFactor, Inc. (NASDAQ:FORM) Holdings Boosted by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. grew its stake in shares of FormFactor, Inc. (NASDAQ:FORM) by 254.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,161 shares of the semiconductor company’s stock after purchasing an additional 3,704 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in FormFactor were worth $312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its stake in FormFactor by 1,385.4% in the second quarter. Squarepoint Ops LLC now owns 82,395 shares of the semiconductor company’s stock valued at $4,987,000 after buying an additional 76,848 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in FormFactor by 1,338.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 36,606 shares of the semiconductor company’s stock valued at $2,216,000 after purchasing an additional 34,061 shares during the last quarter. Point72 DIFC Ltd acquired a new position in FormFactor during the 2nd quarter valued at about $854,000. Xponance Inc. raised its holdings in shares of FormFactor by 5.1% during the second quarter. Xponance Inc. now owns 4,925 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 241 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of FormFactor by 645.5% during the second quarter. Bank of Montreal Can now owns 68,989 shares of the semiconductor company’s stock worth $4,210,000 after buying an additional 59,735 shares during the period. Institutional investors and hedge funds own 98.76% of the company’s stock.

Insider Buying and Selling

In other news, Director Jorge Titinger sold 6,770 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total transaction of $283,933.80. Following the completion of the sale, the director now directly owns 12,970 shares of the company’s stock, valued at $543,961.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the sale, the director now owns 12,970 shares in the company, valued at $543,961.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.93, for a total value of $203,720.00. Following the transaction, the chief executive officer now owns 523,187 shares in the company, valued at approximately $26,645,913.91. The disclosure for this sale can be found here. Insiders have sold 18,770 shares of company stock worth $908,894 in the last three months. 0.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on FORM shares. Stifel Nicolaus lifted their target price on FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of FormFactor in a research note on Thursday, August 1st. TD Cowen increased their target price on shares of FormFactor from $48.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. DA Davidson boosted their price target on shares of FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FormFactor presently has a consensus rating of “Hold” and a consensus price target of $59.63.

FormFactor Stock Performance

Shares of FORM opened at $46.90 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64. The firm’s 50 day moving average is $47.24 and its 200-day moving average is $50.48. FormFactor, Inc. has a 12-month low of $31.51 and a 12-month high of $63.63. The stock has a market capitalization of $3.62 billion, a P/E ratio of 35.53 and a beta of 1.11.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $197.47 million during the quarter, compared to analysts’ expectations of $195.01 million. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. Equities research analysts anticipate that FormFactor, Inc. will post 0.74 EPS for the current fiscal year.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.