Renaissance Technologies LLC Purchases New Holdings in FormFactor, Inc. (NASDAQ:FORM)

Renaissance Technologies LLC acquired a new position in shares of FormFactor, Inc. (NASDAQ:FORM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 230,268 shares of the semiconductor company’s stock, valued at approximately $13,938,000.

Several other large investors also recently added to or reduced their stakes in FORM. Riverview Trust Co purchased a new position in shares of FormFactor during the first quarter valued at $28,000. Innealta Capital LLC acquired a new stake in FormFactor during the 2nd quarter worth about $38,000. Redwood Wealth Management Group LLC purchased a new position in FormFactor during the 2nd quarter valued at about $43,000. LRI Investments LLC acquired a new position in shares of FormFactor in the 1st quarter valued at about $70,000. Finally, Covestor Ltd lifted its position in shares of FormFactor by 3,951.3% in the first quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,541 shares in the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

FormFactor Stock Down 1.9 %

FORM opened at $43.94 on Monday. The company has a market capitalization of $3.39 billion, a P/E ratio of 33.29 and a beta of 1.11. 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 fifty day moving average price is $48.40 and its two-hundred day moving average price is $50.57. FormFactor, Inc. has a fifty-two week low of $31.51 and a fifty-two week high of $63.63.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $197.47 million for 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%. On average, analysts anticipate that FormFactor, Inc. will post 0.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FORM shares. StockNews.com lowered shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. TD Cowen increased their price objective on FormFactor from $48.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. B. Riley boosted their target price on FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of FormFactor in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price target on FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, FormFactor currently has an average rating of “Hold” and a consensus price target of $59.63.

Insider Activity at FormFactor

In other FormFactor news, Director Jorge Titinger sold 6,770 shares of the 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 transaction, the director now directly owns 12,970 shares in the company, valued at $543,961.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total transaction of $185,240.00. Following the completion of the sale, the chief executive officer now owns 534,276 shares of the company’s stock, valued at $24,742,321.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jorge Titinger sold 6,770 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total value of $283,933.80. Following the sale, the director now owns 12,970 shares in the company, valued at $543,961.80. The disclosure for this sale can be found here. Insiders have sold a total of 18,770 shares of company stock valued at $908,894 in the last 90 days. 0.96% of the stock is owned by corporate insiders.

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.