Victory Capital Management Inc. Reduces Position in FormFactor, Inc. (NASDAQ:FORM)

Victory Capital Management Inc. trimmed its holdings in FormFactor, Inc. (NASDAQ:FORM) by 19.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,243,846 shares of the semiconductor company’s stock after selling 304,595 shares during the quarter. Victory Capital Management Inc. owned about 1.60% of FormFactor worth $51,881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in FormFactor during the fourth quarter worth approximately $55,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of FormFactor during the 3rd quarter worth $70,000. Mackenzie Financial Corp acquired a new position in shares of FormFactor during the 4th quarter valued at about $202,000. Ausbil Investment Management Ltd purchased a new stake in shares of FormFactor in the fourth quarter valued at about $208,000. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in FormFactor during the fourth quarter worth about $209,000. 98.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on FORM. Craig Hallum boosted their target price on shares of FormFactor from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. TheStreet upgraded FormFactor from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Citigroup lifted their target price on FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday. Needham & Company LLC increased their price target on FormFactor from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Evercore ISI began coverage on FormFactor in a research report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, FormFactor currently has a consensus rating of “Hold” and a consensus price target of $47.30.

Insider Buying and Selling at FormFactor

In other news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.12, for a total transaction of $421,200.00. Following the sale, the chief financial officer now owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.12, for a total transaction of $421,200.00. Following the completion of the transaction, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mike Slessor sold 4,000 shares of the company’s 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 owns 499,781 shares in the company, valued at $21,680,499.78. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock valued at $1,398,580 in the last 90 days. Company insiders own 0.96% of the company’s stock.

FormFactor Stock Performance

Shares of FormFactor stock opened at $54.00 on Friday. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 40.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.51 and a quick ratio of 3.52. The business has a 50-day moving average of $44.33 and a 200 day moving average of $40.58. FormFactor, Inc. has a 12 month low of $24.88 and a 12 month high of $54.27.

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

About FormFactor

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.