Principal Financial Group Inc. Sells 16,924 Shares of FormFactor, Inc. (NASDAQ:FORM)

Principal Financial Group Inc. cut its stake in FormFactor, Inc. (NASDAQ:FORM) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 366,631 shares of the semiconductor company’s stock after selling 16,924 shares during the quarter. Principal Financial Group Inc. owned 0.47% of FormFactor worth $16,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of FormFactor by 1.4% in the third quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock worth $134,019,000 after acquiring an additional 39,784 shares during the period. Geode Capital Management LLC boosted its holdings in shares of FormFactor by 3.7% in the third quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock worth $95,105,000 after buying an additional 73,982 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of FormFactor by 91.5% in the second quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock worth $77,636,000 after buying an additional 612,838 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of FormFactor by 8.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company’s stock worth $48,928,000 after buying an additional 79,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of FormFactor by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 886,103 shares of the semiconductor company’s stock worth $40,761,000 after buying an additional 32,889 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FORM. TD Cowen lowered their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Needham & Company LLC lowered their price target on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.38.

Insider Activity

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $40.59, for a total transaction of $162,360.00. Following the sale, the chief executive officer now owns 526,531 shares in the company, valued at approximately $21,371,893.29. This represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

FormFactor Stock Down 2.4 %

Shares of NASDAQ:FORM opened at $45.92 on Friday. The company has a 50-day moving average price of $42.17 and a 200 day moving average price of $47.72. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. FormFactor, Inc. has a 12 month low of $37.21 and a 12 month high of $63.63. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 26.39 and a beta of 1.12.

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.