Primecap Management Co. CA Lowers Holdings in FormFactor, Inc. (NASDAQ:FORM)

Primecap Management Co. CA lowered its stake in shares of FormFactor, Inc. (NASDAQ:FORM) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,799,064 shares of the semiconductor company’s stock after selling 39,100 shares during the period. Primecap Management Co. CA owned about 3.61% of FormFactor worth $123,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State of New Jersey Common Pension Fund D raised its position in FormFactor by 21.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 39,967 shares of the semiconductor company’s stock valued at $1,838,000 after acquiring an additional 7,061 shares in the last quarter. Quest Partners LLC grew its stake in shares of FormFactor by 24.8% during the 3rd quarter. Quest Partners LLC now owns 7,702 shares of the semiconductor company’s stock worth $354,000 after purchasing an additional 1,529 shares during the period. Jennison Associates LLC purchased a new position in shares of FormFactor during the 3rd quarter valued at approximately $783,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of FormFactor by 129.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,465 shares of the semiconductor company’s stock valued at $3,793,000 after purchasing an additional 46,488 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in 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 buying an additional 309 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total transaction of $155,920.00. Following the transaction, the chief executive officer now owns 518,531 shares in the company, valued at approximately $20,212,338.38. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Evercore ISI cut their price objective on shares of FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of FormFactor in a research note on Thursday, February 6th. B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $64.00 to $34.00 in a report on Thursday, February 6th. Stifel Nicolaus cut their price objective on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.50.

FormFactor Trading Up 0.5 %

Shares of FORM stock opened at $32.82 on Wednesday. FormFactor, Inc. has a fifty-two week low of $30.22 and a fifty-two week high of $63.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61. The stock’s fifty day moving average is $37.44 and its two-hundred day moving average is $41.28. The firm has a market capitalization of $2.55 billion, a P/E ratio of 36.88 and a beta of 1.07.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a return on equity of 5.93% and a net margin of 9.12%. Research analysts expect that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

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.