Maryland State Retirement & Pension System Trims Position in FormFactor, Inc. (NASDAQ:FORM)

Maryland State Retirement & Pension System trimmed its position in FormFactor, Inc. (NASDAQ:FORM) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,291 shares of the semiconductor company’s stock after selling 312 shares during the quarter. Maryland State Retirement & Pension System’s holdings in FormFactor were worth $1,180,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FORM. Vanguard Group Inc. increased its stake in FormFactor by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock worth $341,007,000 after acquiring an additional 224,599 shares during the last quarter. Earnest Partners LLC increased its stake in FormFactor by 1.2% in the third quarter. Earnest Partners LLC now owns 6,450,654 shares of the semiconductor company’s stock valued at $225,386,000 after acquiring an additional 78,466 shares during the last quarter. Sei Investments Co. raised its position in FormFactor by 15.4% during the third quarter. Sei Investments Co. now owns 1,286,351 shares of the semiconductor company’s stock valued at $44,945,000 after purchasing an additional 171,712 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of FormFactor by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 815,716 shares of the semiconductor company’s stock valued at $28,501,000 after buying an additional 45,248 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in FormFactor by 124.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 405,695 shares of the semiconductor company’s stock worth $14,175,000 after buying an additional 224,799 shares during the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other FormFactor news, Director Sheri Rhodes sold 13,319 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total value of $746,130.38. Following the completion of the transaction, the director now directly owns 7,634 shares in the company, valued at approximately $427,656.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $43.38, for a total transaction of $173,520.00. Following the sale, the chief executive officer now directly owns 499,781 shares in the company, valued at $21,680,499.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheri Rhodes sold 13,319 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $56.02, for a total value of $746,130.38. Following the completion of the sale, the director now directly owns 7,634 shares in the company, valued at $427,656.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,413 shares of company stock valued at $2,484,512. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FORM. B. Riley increased their price target on shares of FormFactor from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Evercore ISI began coverage on shares of FormFactor in a report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 target price on the stock. TD Cowen boosted their price target on shares of FormFactor from $37.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Needham & Company LLC raised their price objective on FormFactor from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Craig Hallum lifted their price objective on FormFactor from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.30.

FormFactor Stock Performance

FormFactor stock opened at $56.14 on Thursday. The company has a current ratio of 4.51, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.36 billion, a P/E ratio of 42.53 and a beta of 1.15. FormFactor, Inc. has a 1-year low of $27.46 and a 1-year high of $56.98. The firm has a 50-day moving average of $45.16 and a 200-day moving average of $41.08.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $168.16 million during the quarter, compared to analysts’ expectations of $165.49 million. FormFactor had a return on equity of 2.29% and a net margin of 15.48%. Sell-side analysts expect that FormFactor, Inc. will post 0.68 EPS for the current 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.