Municipal Employees Retirement System of Michigan trimmed its position in FormFactor, Inc. (NASDAQ:FORM) by 10.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,710 shares of the semiconductor company’s stock after selling 8,300 shares during the period. Municipal Employees Retirement System of Michigan owned about 0.10% of FormFactor worth $1,124,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP purchased a new position in FormFactor in the 2nd quarter worth about $2,300,000. Fisher Asset Management LLC increased its stake in FormFactor by 14.1% in the 2nd quarter. Fisher Asset Management LLC now owns 280,482 shares of the semiconductor company’s stock worth $4,395,000 after purchasing an additional 34,611 shares in the last quarter. Bailard Inc. purchased a new position in FormFactor in the 2nd quarter worth about $387,000. Arizona State Retirement System increased its stake in FormFactor by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 115,691 shares of the semiconductor company’s stock worth $1,813,000 after purchasing an additional 799 shares in the last quarter. Finally, First Quadrant L P CA purchased a new position in FormFactor in the 2nd quarter worth about $134,000. Institutional investors own 93.27% of the company’s stock.
A number of equities analysts recently weighed in on FORM shares. BidaskClub raised FormFactor from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC started coverage on FormFactor in a research note on Monday, June 10th. They issued a “buy” rating and a $19.00 price target on the stock. Zacks Investment Research cut FormFactor from a “hold” rating to a “sell” rating and set a $19.00 price target on the stock. in a research note on Monday, August 5th. Stifel Nicolaus lifted their price target on FormFactor from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Northland Securities cut FormFactor from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $16.50 to $18.00 in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $18.71.
NASDAQ:FORM opened at $16.77 on Thursday. The company has a current ratio of 3.38, a quick ratio of 2.57 and a debt-to-equity ratio of 0.07. FormFactor, Inc. has a fifty-two week low of $11.38 and a fifty-two week high of $19.90. The firm’s 50-day simple moving average is $16.15. The stock has a market cap of $1.26 billion, a PE ratio of 21.78 and a beta of 1.69.
FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.07. FormFactor had a return on equity of 9.73% and a net margin of 19.27%. The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $134.65 million. During the same quarter in the previous year, the business posted $0.27 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts forecast that FormFactor, Inc. will post 0.63 EPS for the current year.
In other news, Director Raymond A. Link sold 5,000 shares of FormFactor stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $15.39, for a total transaction of $76,950.00. Following the completion of the sale, the director now directly owns 56,602 shares in the company, valued at approximately $871,104.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raymond A. Link sold 4,000 shares of FormFactor stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.58, for a total value of $62,320.00. Following the sale, the director now owns 49,602 shares of the company’s stock, valued at $772,799.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,200 shares of company stock worth $158,074. Company insiders own 1.88% of the company’s stock.
FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and Systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.
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