Cubist Systematic Strategies LLC Grows Holdings in FormFactor, Inc. (NASDAQ:FORM)

Cubist Systematic Strategies LLC grew its stake in shares of FormFactor, Inc. (NASDAQ:FORM) by 1,338.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,606 shares of the semiconductor company’s stock after buying an additional 34,061 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in FormFactor were worth $2,216,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FORM. Norges Bank purchased a new position in shares of FormFactor during the 4th quarter valued at about $21,454,000. Wells Fargo & Company MN grew its position in FormFactor by 0.8% during the fourth quarter. Wells Fargo & Company MN now owns 305,551 shares of the semiconductor company’s stock valued at $12,745,000 after acquiring an additional 2,417 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in shares of FormFactor during the fourth quarter worth approximately $1,669,000. Sei Investments Co. lifted its holdings in shares of FormFactor by 10.2% in the 4th quarter. Sei Investments Co. now owns 1,417,633 shares of the semiconductor company’s stock worth $59,129,000 after acquiring an additional 131,282 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of FormFactor by 74.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 42,840 shares of the semiconductor company’s stock valued at $1,787,000 after purchasing an additional 18,293 shares in the last quarter. 98.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the firm’s 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 transaction, the chief executive officer now owns 523,187 shares in the company, valued at approximately $26,645,913.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.93, for a total value of $203,720.00. Following the sale, the chief executive officer now directly owns 523,187 shares of the company’s stock, valued at approximately $26,645,913.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the transaction, the director now directly owns 12,970 shares of the company’s stock, valued at $543,961.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,770 shares of company stock worth $672,894. Company insiders own 0.96% of the company’s stock.

FormFactor Stock Performance

Shares of FORM stock opened at $46.00 on Tuesday. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 34.85 and a beta of 1.11. The stock has a fifty day moving average of $46.79 and a 200 day moving average of $50.61. FormFactor, Inc. has a 52 week low of $31.51 and a 52 week high of $63.63. The company has a quick ratio of 3.64, a current ratio of 4.46 and a debt-to-equity ratio of 0.01.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FORM. B. Riley lifted their target price on shares of FormFactor from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus increased their target price on FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. DA Davidson lifted their price target on FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of FormFactor in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.63.

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.