FormFactor, Inc. (FORM) Position Lowered by Morgan Stanley
Morgan Stanley reduced its position in shares of FormFactor, Inc. (NASDAQ:FORM) by 29.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,964 shares of the semiconductor company’s stock after selling 62,760 shares during the period. Morgan Stanley owned about 0.21% of FormFactor worth $1,777,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC increased its position in shares of FormFactor by 50.7% in the first quarter. Fisher Asset Management LLC now owns 286,532 shares of the semiconductor company’s stock worth $3,395,000 after buying an additional 96,336 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of FormFactor by 79.9% in the first quarter. Kennedy Capital Management Inc. now owns 597,655 shares of the semiconductor company’s stock worth $7,082,000 after buying an additional 265,415 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of FormFactor during the first quarter worth about $288,000. Ameriprise Financial Inc. increased its position in shares of FormFactor by 0.3% in the first quarter. Ameriprise Financial Inc. now owns 1,130,857 shares of the semiconductor company’s stock worth $13,400,000 after buying an additional 3,160 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of FormFactor by 1,415.9% in the first quarter. Victory Capital Management Inc. now owns 2,003,210 shares of the semiconductor company’s stock worth $23,738,000 after buying an additional 1,871,060 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.
Shares of FormFactor, Inc. (FORM) traded down 0.493% during mid-day trading on Thursday, reaching $15.125. The company’s stock had a trading volume of 298,265 shares. The company’s market cap is $1.10 billion. The company has a 50-day moving average of $13.47 and a 200-day moving average of $12.63. FormFactor, Inc. has a 12 month low of $8.55 and a 12 month high of $15.58.
FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.12. FormFactor had a net margin of 12.21% and a return on equity of 16.59%. The company had revenue of $144 million during the quarter, compared to analysts’ expectations of $134.53 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. FormFactor’s revenue for the quarter was up 73.3% compared to the same quarter last year. Equities research analysts forecast that FormFactor, Inc. will post $1.22 earnings per share for the current fiscal year.
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FORM has been the topic of a number of recent analyst reports. Zacks Investment Research raised FormFactor from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, May 8th. ValuEngine raised FormFactor from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of FormFactor in a research note on Thursday, June 22nd. Sidoti reissued a “buy” rating and issued a $18.00 price objective (up from $15.00) on shares of FormFactor in a research note on Wednesday, June 14th. Finally, BidaskClub raised FormFactor from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. FormFactor has a consensus rating of “Buy” and a consensus price target of $16.38.
In related news, Director Dennis Thomas St sold 285,333 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $14.61, for a total transaction of $4,168,715.13. Following the completion of the sale, the director now owns 40,666 shares of the company’s stock, valued at $594,130.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael M. Ludwig sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $14.07, for a total transaction of $140,700.00. Following the sale, the chief financial officer now directly owns 267,977 shares of the company’s stock, valued at approximately $3,770,436.39. The disclosure for this sale can be found here. Insiders have sold 325,733 shares of company stock valued at $4,741,287 in the last three months. 2.84% of the stock is currently owned by corporate insiders.
FormFactor Company Profile
FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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