29,250 Shares in FormFactor (FORM) Purchased by New York State Teachers Retirement System
New York State Teachers Retirement System bought a new position in shares of FormFactor (NASDAQ:FORM) in the first quarter, HoldingsChannel.com reports. The firm bought 29,250 shares of the semiconductor company’s stock, valued at approximately $399,000.
A number of other large investors have also modified their holdings of the business. BlueCrest Capital Management Ltd bought a new position in shares of FormFactor in the fourth quarter valued at approximately $179,000. Thompson Davis & CO. Inc. bought a new position in shares of FormFactor in the fourth quarter valued at approximately $186,000. AMP Capital Investors Ltd bought a new position in shares of FormFactor in the fourth quarter valued at approximately $240,000. Cigna Investments Inc. New bought a new position in shares of FormFactor in the fourth quarter valued at approximately $252,000. Finally, Jefferies Group LLC bought a new position in shares of FormFactor in the fourth quarter valued at approximately $277,000. Hedge funds and other institutional investors own 82.77% of the company’s stock.
A number of research firms have recently commented on FORM. ValuEngine upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. Citigroup cut their price objective on shares of FormFactor from $14.00 to $13.50 and set a “neutral” rating for the company in a research report on Friday, May 4th. TheStreet lowered shares of FormFactor from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th. BidaskClub lowered shares of FormFactor from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 27th. Finally, Needham & Company LLC lowered shares of FormFactor from a “strong-buy” rating to a “buy” rating and cut their price objective for the company from $20.00 to $17.00 in a research report on Friday, April 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. FormFactor presently has an average rating of “Buy” and an average price target of $17.93.
FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, May 2nd. The semiconductor company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $118.29 million for the quarter, compared to the consensus estimate of $116.08 million. FormFactor had a net margin of 7.04% and a return on equity of 15.19%. FormFactor’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. analysts anticipate that FormFactor will post 0.86 EPS for the current fiscal year.
In related news, Director Dennis Thomas St sold 20,867 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $13.58, for a total value of $283,373.86. Following the sale, the director now directly owns 61,533 shares of the company’s stock, valued at $835,618.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael M. Ludwig sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $13.05, for a total transaction of $587,250.00. Following the completion of the sale, the chief financial officer now directly owns 242,887 shares in the company, valued at $3,169,675.35. The disclosure for this sale can be found here. Insiders sold 91,789 shares of company stock worth $1,211,620 over the last ninety days. 1.30% of the stock is currently owned by insiders.
FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test systems. The company offers probe cards that are used to test various semiconductor device types, including system 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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