Principal Financial Group Inc. Trims Stake in FormFactor, Inc. (NASDAQ:FORM)

Principal Financial Group Inc. trimmed its stake in FormFactor, Inc. (NASDAQ:FORMGet Rating) by 7.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489,691 shares of the semiconductor company’s stock after selling 39,560 shares during the period. Principal Financial Group Inc.’s holdings in FormFactor were worth $18,966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Texas Permanent School Fund increased its stake in shares of FormFactor by 1.8% in the 2nd quarter. Texas Permanent School Fund now owns 56,440 shares of the semiconductor company’s stock worth $2,186,000 after purchasing an additional 995 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of FormFactor by 12.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 24,010 shares of the semiconductor company’s stock worth $930,000 after purchasing an additional 2,700 shares in the last quarter. Montanaro Asset Management Ltd purchased a new stake in shares of FormFactor in the 2nd quarter worth $3,040,000. Royce & Associates LP increased its stake in FormFactor by 25.2% in the 2nd quarter. Royce & Associates LP now owns 2,294,895 shares of the semiconductor company’s stock worth $88,881,000 after buying an additional 462,292 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in FormFactor by 12.9% in the 2nd quarter. Fifth Third Bancorp now owns 18,895 shares of the semiconductor company’s stock worth $732,000 after buying an additional 2,158 shares in the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Trading Down 2.0 %

Shares of FormFactor stock opened at $22.18 on Tuesday. The company has a quick ratio of 2.35, a current ratio of 3.15 and a debt-to-equity ratio of 0.02. FormFactor, Inc. has a twelve month low of $18.15 and a twelve month high of $47.48. The business has a 50-day moving average price of $24.31 and a 200-day moving average price of $31.99. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 19.29 and a beta of 1.14.

Analyst Upgrades and Downgrades

FORM has been the subject of a number of analyst reports. StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Stifel Nicolaus lowered FormFactor from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Thursday, October 27th. DA Davidson cut their price target on FormFactor from $40.00 to $32.00 in a research note on Thursday, October 27th. Needham & Company LLC cut their price target on FormFactor from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, October 27th. Finally, Citigroup cut their price objective on FormFactor from $42.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, FormFactor currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.88.

About FormFactor

(Get Rating)

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. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems 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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Institutional Ownership by Quarter for FormFactor (NASDAQ:FORM)

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