Intech Investment Management LLC Makes New $818,000 Investment in FormFactor, Inc. (NASDAQ:FORM)

Intech Investment Management LLC bought a new position in FormFactor, Inc. (NASDAQ:FORM) in the 3rd quarter, Holdings Channel reports. The firm bought 17,787 shares of the semiconductor company’s stock, valued at approximately $818,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of FormFactor by 91.5% in 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 period. New York State Common Retirement Fund lifted its holdings in FormFactor by 876.0% during the third quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock worth $14,876,000 after buying an additional 290,254 shares during the period. Driehaus Capital Management LLC purchased a new stake in FormFactor during the second quarter worth $15,893,000. Renaissance Technologies LLC purchased a new position in shares of FormFactor in the 2nd quarter valued at $13,938,000. Finally, TimesSquare Capital Management LLC increased its holdings in shares of FormFactor by 29.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 586,700 shares of the semiconductor company’s stock valued at $26,988,000 after acquiring an additional 134,170 shares during the period. 98.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total value of $181,120.00. Following the sale, the chief executive officer now owns 530,276 shares in the company, valued at $24,010,897.28. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FORM shares. Needham & Company LLC dropped their price objective on FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. TD Cowen reduced their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Finally, DA Davidson raised their target price on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.38.

FormFactor Price Performance

Shares of FORM opened at $39.31 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94. The company’s fifty day moving average price is $43.06 and its 200-day moving average price is $49.60. FormFactor, Inc. has a 1-year low of $36.11 and a 1-year high of $63.63. The firm has a market capitalization of $3.04 billion, a PE ratio of 22.59 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.