State of New Jersey Common Pension Fund D reduced its position in shares of FormFactor, Inc. (NASDAQ:FORM – Free Report) by 23.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,007 shares of the semiconductor company’s stock after selling 24,156 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FormFactor were worth $2,485,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors increased its position in FormFactor by 10.0% during the first 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 last quarter. Journey Strategic Wealth LLC increased its position in FormFactor by 8.7% during the first quarter. Journey Strategic Wealth LLC now owns 5,564 shares of the semiconductor company’s stock worth $234,000 after purchasing an additional 447 shares during the last quarter. HighTower Advisors LLC increased its position in FormFactor by 2.2% during the first quarter. HighTower Advisors LLC now owns 21,496 shares of the semiconductor company’s stock worth $901,000 after purchasing an additional 465 shares during the last quarter. CWM LLC increased its position in FormFactor by 44.0% during the fourth quarter. CWM LLC now owns 1,561 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 477 shares during the last quarter. Finally, Arizona State Retirement System increased its position in FormFactor by 2.6% during the fourth quarter. Arizona State Retirement System now owns 21,765 shares of the semiconductor company’s stock worth $484,000 after purchasing an additional 551 shares during the last quarter. 95.95% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
FORM has been the subject of several research analyst reports. Northland Securities lowered shares of FormFactor from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research note on Monday. They noted that the move was a valuation call. DA Davidson lowered their target price on shares of FormFactor from $36.00 to $32.00 in a research note on Thursday, May 4th. B. Riley increased their target price on shares of FormFactor from $40.00 to $45.00 in a research note on Monday. Citigroup lowered shares of FormFactor from a “buy” rating to a “neutral” rating and increased their target price for the stock from $25.00 to $33.00 in a research note on Monday, April 3rd. Finally, StockNews.com initiated coverage on shares of FormFactor in a research note on Thursday, May 18th. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.89.
FormFactor Trading Up 2.8 %
FormFactor (NASDAQ:FORM – Get Free Report) last posted its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. FormFactor had a net margin of 3.09% and a return on equity of 5.51%. The business had revenue of $167.45 million during the quarter, compared to analyst estimates of $162.18 million. Equities research analysts anticipate that FormFactor, Inc. will post 0.28 EPS 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. 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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