First Horizon Advisors Inc. Lowers Holdings in FormFactor, Inc. (NASDAQ:FORM)

Posted by on Feb 15th, 2023

First Horizon Advisors Inc. lowered its holdings in shares of FormFactor, Inc. (NASDAQ:FORM – Get Rating) by 62.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,085 shares of the semiconductor company’s stock after selling 1,817 shares during the quarter. First Horizon Advisors Inc.’s holdings in FormFactor were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FORM. Captrust Financial Advisors boosted its stake in FormFactor by 10.0% in the 1st quarter. Captrust Financial Advisors now owns 3,087 shares of the semiconductor company’s stock worth $130,000 after purchasing an additional 281 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in FormFactor by 1.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,757 shares of the semiconductor company’s stock valued at $645,000 after acquiring an additional 412 shares in the last quarter. Journey Strategic Wealth LLC increased its holdings in FormFactor by 8.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 5,564 shares of the semiconductor company’s stock valued at $234,000 after acquiring an additional 447 shares during the last quarter. HighTower Advisors LLC lifted its stake in FormFactor by 2.2% in the 1st quarter. HighTower Advisors LLC now owns 21,496 shares of the semiconductor company’s stock worth $901,000 after purchasing an additional 465 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in FormFactor by 9.7% in the 2nd quarter. Mackenzie Financial Corp now owns 5,420 shares of the semiconductor company’s stock worth $210,000 after purchasing an additional 478 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup reduced their target price on FormFactor from $42.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Cowen lowered their target price on FormFactor to $25.00 in a research report on Thursday, October 27th. Needham & Company LLC raised their target price on shares of FormFactor from $28.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Stifel Nicolaus downgraded shares of FormFactor from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Thursday, October 27th. Finally, DA Davidson lifted their price objective on shares of FormFactor from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.20.

FormFactor Stock Up 1.2 %

Shares of NASDAQ:FORM opened at $32.27 on Wednesday. The firm has a market capitalization of $2.49 billion, a PE ratio of 50.42 and a beta of 1.27. The business has a 50 day simple moving average of $25.57 and a two-hundred day simple moving average of $26.37. FormFactor, Inc. has a 1 year low of $18.15 and a 1 year high of $44.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.17 and a quick ratio of 2.35.

FormFactor Profile

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FormFactor, Inc engages in the provision of test and measurement solutions. It operates through the following business segments: Probe Cards and Systems. The Probe Cards segment consists of technologies and product architectures, including micro-electromechanical systems technologies. The Systems segment consists of analytical probe solutions for on-wafer probing, board tests, and package tests.

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Institutional Ownership by Quarter for FormFactor (NASDAQ:FORM)

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