Profund Advisors LLC Reduces Stock Holdings in FormFactor, Inc. (NASDAQ:FORM)

Profund Advisors LLC cut its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 8.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,092 shares of the semiconductor company’s stock after selling 373 shares during the quarter. Profund Advisors LLC’s holdings in FormFactor were worth $248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FORM. Wellington Management Group LLP increased its holdings in FormFactor by 81.1% during the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after purchasing an additional 862,885 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in FormFactor by 91.5% during 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 purchasing an additional 612,838 shares during the last quarter. Norges Bank purchased a new stake in FormFactor during the 4th quarter worth approximately $21,454,000. Renaissance Technologies LLC purchased a new stake in FormFactor during the 2nd quarter worth approximately $13,938,000. Finally, TimesSquare Capital Management LLC increased its holdings in FormFactor by 60.4% during the 1st 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 during the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $59.00, for a total transaction of $236,000.00. Following the completion of the transaction, the chief executive officer now owns 487,581 shares in the company, valued at approximately $28,767,279. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $59.00, for a total transaction of $236,000.00. Following the completion of the transaction, the chief executive officer now owns 487,581 shares in the company, valued at approximately $28,767,279. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction 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 transaction, the director now owns 12,970 shares of the company’s stock, valued at approximately $543,961.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,770 shares of company stock worth $908,894. 0.96% of the stock is owned by company insiders.

FormFactor Trading Down 1.3 %

NASDAQ:FORM opened at $46.30 on Friday. FormFactor, Inc. has a 12-month low of $31.51 and a 12-month high of $63.63. The firm has a market capitalization of $3.57 billion, a P/E ratio of 35.08 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 business has a 50 day simple moving average of $47.06 and a 200 day simple moving average of $50.54.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $195.01 million. Equities research analysts predict that FormFactor, Inc. will post 0.74 EPS for the current year.

Analysts Set New Price Targets

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

FormFactor 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.