Marshall Wace North America L.P. Invests $4.04 Million in FormFactor, Inc. (FORM)
Marshall Wace North America L.P. bought a new stake in FormFactor, Inc. (NASDAQ:FORM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 336,974 shares of the semiconductor company’s stock, valued at approximately $4,044,000. Marshall Wace North America L.P. owned about 0.47% of FormFactor at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Suntrust Banks Inc. bought a new stake in FormFactor during the first quarter valued at $122,000. Great West Life Assurance Co. Can increased its stake in FormFactor by 214.9% in the second quarter. Great West Life Assurance Co. Can now owns 12,462 shares of the semiconductor company’s stock valued at $154,000 after buying an additional 8,505 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in FormFactor during the first quarter valued at $158,000. Tudor Investment Corp ET AL bought a new stake in FormFactor during the first quarter valued at $160,000. Finally, Bourgeon Capital Management LLC increased its stake in FormFactor by 50.0% in the second quarter. Bourgeon Capital Management LLC now owns 15,000 shares of the semiconductor company’s stock valued at $186,000 after buying an additional 5,000 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.
Shares of FormFactor, Inc. (NASDAQ:FORM) opened at 15.10 on Friday. FormFactor, Inc. has a 12-month low of $8.55 and a 12-month high of $15.58. The stock has a 50 day moving average of $13.74 and a 200 day moving average of $12.71. The stock’s market capitalization is $1.10 billion.
FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. FormFactor had a negative net margin of 1.32% and a positive return on equity of 15.62%. The company had revenue of $144 million for the quarter, compared to analysts’ expectations of $134.53 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was up 73.3% on a year-over-year basis. Equities research analysts anticipate that FormFactor, Inc. will post $1.22 EPS for the current fiscal year.
Several research firms have weighed in on FORM. B. Riley reissued a “buy” rating and set a $20.00 target price on shares of FormFactor in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of FormFactor from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price (up previously from $16.00) on shares of FormFactor in a research report on Thursday, August 3rd. DA Davidson reissued a “buy” rating and set a $20.00 target price on shares of FormFactor in a research report on Thursday. Finally, Citigroup Inc. reissued a “neutral” rating and set a $15.00 target price (up previously from $13.50) on shares of FormFactor in a research report on Monday, June 5th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $17.00.
In other FormFactor news, Director Dennis Thomas St sold 285,333 shares of the firm’s 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 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 SEC, which can be accessed through the SEC website. Also, CFO Michael M. Ludwig sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was 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 in the company, valued at approximately $3,770,436.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 325,733 shares of company stock worth $4,741,287. 2.84% of the stock is owned by corporate insiders.
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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