ProShare Advisors LLC Trims Stock Holdings in FormFactor, Inc. (NASDAQ:FORM)

ProShare Advisors LLC decreased its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 23.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,883 shares of the semiconductor company’s stock after selling 3,691 shares during the quarter. ProShare Advisors LLC’s holdings in FormFactor were worth $719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FORM. Wellington Management Group LLP raised its position in shares of FormFactor by 81.1% in the fourth quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after buying an additional 862,885 shares in the last quarter. Bank of New York Mellon Corp increased its stake in FormFactor by 91.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock worth $77,636,000 after acquiring an additional 612,838 shares during the last quarter. Norges Bank purchased a new stake in shares of FormFactor in the 4th quarter valued at about $21,454,000. Renaissance Technologies LLC bought a new stake in shares of FormFactor during the 2nd quarter valued at about $13,938,000. Finally, TimesSquare Capital Management LLC grew its holdings in shares of FormFactor by 60.4% during the first quarter. TimesSquare Capital Management LLC now owns 595,300 shares of the semiconductor company’s stock worth $27,164,000 after purchasing an additional 224,075 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

FormFactor Stock Down 1.3 %

Shares of NASDAQ:FORM opened at $46.30 on Monday. FormFactor, Inc. has a 12-month low of $31.51 and a 12-month high of $63.63. The company has a current ratio of 4.46, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $47.06 and its 200-day moving average price is $50.59. The stock has a market capitalization of $3.57 billion, a P/E ratio of 35.08 and a beta of 1.11.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. The business had revenue of $197.47 million for the quarter, compared to analyst estimates of $195.01 million. On average, equities analysts anticipate that FormFactor, Inc. will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other FormFactor news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction 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 completion of the sale, the director now owns 12,970 shares of the company’s stock, valued at approximately $543,961.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other FormFactor news, Director Jorge Titinger sold 6,770 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 12,970 shares of the company’s stock, valued at approximately $543,961.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.93, for a total value of $203,720.00. Following the completion of the sale, the chief executive officer now owns 523,187 shares of the company’s stock, valued at approximately $26,645,913.91. The disclosure for this sale can be found here. Insiders have sold a total of 14,770 shares of company stock valued at $672,894 over the last three months. 0.96% of the stock is owned by company insiders.

FormFactor Company Profile

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.