Allspring Global Investments Holdings LLC Reduces Stock Position in FormFactor, Inc. (NASDAQ:FORM)

Allspring Global Investments Holdings LLC reduced its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 16.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 320,624 shares of the semiconductor company’s stock after selling 65,434 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.41% of FormFactor worth $13,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FORM. Cerity Partners LLC acquired a new stake in shares of FormFactor during the first quarter worth $383,000. Belpointe Asset Management LLC lifted its position in FormFactor by 170.1% in the 1st quarter. Belpointe Asset Management LLC now owns 1,086 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 684 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in FormFactor during the 3rd quarter valued at about $70,000. Tower Research Capital LLC TRC boosted its stake in FormFactor by 247.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,487 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 1,771 shares during the period. Finally, CWM LLC grew its position in FormFactor by 124.3% in the 3rd quarter. CWM LLC now owns 2,761 shares of the semiconductor company’s stock worth $96,000 after purchasing an additional 1,530 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FORM. TD Cowen boosted their price objective on FormFactor from $33.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. TheStreet raised FormFactor from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. StockNews.com upgraded shares of FormFactor from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $46.00 target price on shares of FormFactor in a research report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, FormFactor presently has a consensus rating of “Moderate Buy” and an average target price of $41.63.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $45.94, for a total transaction of $183,760.00. Following the completion of the sale, the chief executive officer now directly owns 495,781 shares of the company’s stock, valued at approximately $22,776,179.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $45.94, for a total transaction of $183,760.00. Following the completion of the sale, the chief executive officer now directly owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.51, for a total transaction of $445,100.00. Following the completion of the transaction, the chief financial officer now owns 27,591 shares of the company’s stock, valued at $1,228,075.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,000 shares of company stock valued at $1,223,580. Corporate insiders own 0.96% of the company’s stock.

FormFactor Price Performance

NASDAQ:FORM opened at $44.09 on Tuesday. The company has a quick ratio of 3.52, a current ratio of 4.38 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $43.33 and its 200 day moving average price is $39.66. FormFactor, Inc. has a 52-week low of $24.88 and a 52-week high of $47.94. The firm has a market cap of $3.41 billion, a P/E ratio of 41.59 and a beta of 1.18.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. FormFactor had a net margin of 12.42% and a return on equity of 2.43%. The company had revenue of $168.16 million for the quarter, compared to analysts’ expectations of $165.49 million. As a group, sell-side analysts predict that FormFactor, Inc. will post 0.63 earnings per share for the current fiscal year.

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.