Primecap Management Co. CA Trims Stock Position in FormFactor, Inc. (NASDAQ:FORM)

Primecap Management Co. CA cut its position in FormFactor, Inc. (NASDAQ:FORM) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,838,164 shares of the semiconductor company’s stock after selling 38,450 shares during the quarter. Primecap Management Co. CA’s holdings in FormFactor were worth $130,556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. grew its holdings in shares of FormFactor by 99.4% during the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 309 shares in the last quarter. Innealta Capital LLC bought a new stake in FormFactor during the second quarter valued at approximately $38,000. Redwood Wealth Management Group LLC bought a new stake in FormFactor during the second quarter valued at approximately $43,000. LRI Investments LLC purchased a new position in FormFactor in the 1st quarter worth approximately $70,000. Finally, Covestor Ltd increased its holdings in shares of FormFactor by 3,951.3% in the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock worth $72,000 after buying an additional 1,541 shares during the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FormFactor

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

Analyst Upgrades and Downgrades

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

FormFactor Price Performance

Shares of FormFactor stock opened at $40.64 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. FormFactor, Inc. has a one year low of $36.11 and a one year high of $63.63. The business’s 50 day simple moving average is $43.27 and its two-hundred day simple moving average is $50.08. The stock has a market capitalization of $3.15 billion, a P/E ratio of 23.36 and a beta of 1.12.

FormFactor Company 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.