Driehaus Capital Management LLC Takes $15.89 Million Position in FormFactor, Inc. (NASDAQ:FORM)

Driehaus Capital Management LLC acquired a new stake in shares of FormFactor, Inc. (NASDAQ:FORM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 262,569 shares of the semiconductor company’s stock, valued at approximately $15,893,000.

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

FormFactor Stock Performance

FORM opened at $46.30 on Friday. The firm has a market cap of $3.57 billion, a P/E ratio of 35.08 and a beta of 1.11. FormFactor, Inc. has a 1-year low of $31.51 and a 1-year high of $63.63. The company has a 50 day simple moving average of $47.06 and a two-hundred day simple moving average of $50.54. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $195.01 million. Equities analysts forecast that FormFactor, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jorge Titinger sold 6,770 shares of the company’s 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 transaction, the director now owns 12,970 shares in the company, valued at $543,961.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.93, for a total transaction of $203,720.00. Following the completion of the transaction, the chief executive officer now owns 523,187 shares in the company, valued at $26,645,913.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jorge Titinger sold 6,770 shares of the company’s 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 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. Over the last quarter, insiders sold 18,770 shares of company stock worth $908,894. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FORM. StockNews.com lowered shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Stifel Nicolaus boosted their target price 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. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of FormFactor in a research report on Thursday, August 1st. TD Cowen upped their price target 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. Finally, B. Riley upped their price target 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. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.63.

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.