Teton Advisors Inc. Lowers Stake in FormFactor, Inc. (FORM)
Teton Advisors Inc. reduced its stake in FormFactor, Inc. (NASDAQ:FORM) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 565,034 shares of the semiconductor company’s stock after selling 9,200 shares during the period. Teton Advisors Inc.’s holdings in FormFactor were worth $7,006,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Alpha Windward LLC acquired a new position in shares of FormFactor during the second quarter valued at $418,000. Norges Bank acquired a new position in shares of FormFactor during the fourth quarter valued at $8,524,000. Insight Capital Research & Management Inc. acquired a new position in shares of FormFactor during the second quarter valued at $368,000. 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 valued at $3,395,000 after buying an additional 96,336 shares during the period. Finally, 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 valued at $7,082,000 after buying an additional 265,415 shares during the period. Institutional investors own 89.20% of the company’s stock.
FormFactor, Inc. (FORM) traded down 1.241% during midday trading on Wednesday, reaching $13.925. The company’s stock had a trading volume of 58,602 shares. FormFactor, Inc. has a 12-month low of $8.55 and a 12-month high of $15.58. The stock’s 50 day moving average is $13.12 and its 200 day moving average is $12.54. The stock’s market cap is $1.01 billion.
FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.12. The business had revenue of $144 million for the quarter, compared to analyst estimates of $134.53 million. FormFactor had a positive return on equity of 15.62% and a negative net margin of 1.32%. The company’s revenue for the quarter was up 73.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. Analysts anticipate that FormFactor, Inc. will post $1.22 earnings per share for the current year.
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FORM has been the topic of several research reports. Zacks Investment Research upgraded shares of FormFactor from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, May 8th. ValuEngine upgraded FormFactor from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of FormFactor in a research report on Thursday, June 22nd. Sidoti restated a “buy” rating and issued a $18.00 price objective (up previously from $15.00) on shares of FormFactor in a research report on Wednesday, June 14th. Finally, BidaskClub upgraded FormFactor from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. FormFactor presently has a consensus rating of “Buy” and an average target price of $16.38.
In other news, Director Dennis Thomas St sold 285,333 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $14.61, for a total value of $4,168,715.13. Following the transaction, 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 is available at the SEC website. Insiders own 2.84% of the company’s stock.
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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