Victory Capital Management Inc. Lowers Stock Holdings in FormFactor, Inc. (NASDAQ:FORM)

Victory Capital Management Inc. lowered its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 38.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,044 shares of the semiconductor company’s stock after selling 13,152 shares during the quarter. Victory Capital Management Inc.’s holdings in FormFactor were worth $926,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of FormFactor by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 920,441 shares of the semiconductor company’s stock valued at $40,499,000 after acquiring an additional 34,338 shares during the last quarter. Bailard Inc. acquired a new position in shares of FormFactor during the fourth quarter valued at approximately $238,000. Smartleaf Asset Management LLC raised its holdings in shares of FormFactor by 146.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,986 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 1,181 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of FormFactor by 180.2% during the fourth quarter. Fisher Asset Management LLC now owns 167,817 shares of the semiconductor company’s stock valued at $7,384,000 after acquiring an additional 107,916 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of FormFactor during the fourth quarter valued at approximately $1,123,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $38.98, for a total transaction of $155,920.00. Following the sale, the chief executive officer now directly owns 518,531 shares of the company’s stock, valued at $20,212,338.38. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of FormFactor in a report on Thursday, February 6th. B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and reduced their target price for the company from $64.00 to $34.00 in a report on Thursday, February 6th. Stifel Nicolaus cut their price target on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $51.00 in a report on Monday, January 6th. Finally, Evercore ISI cut their price target on FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, FormFactor currently has a consensus rating of “Hold” and a consensus target price of $48.50.

FormFactor Stock Down 1.1 %

Shares of NASDAQ:FORM opened at $32.27 on Friday. The business has a 50-day moving average price of $36.97 and a 200 day moving average price of $41.16. FormFactor, Inc. has a 12-month low of $30.22 and a 12-month high of $63.63. The company has a current ratio of 4.61, a quick ratio of 3.83 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 36.26 and a beta of 1.07.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. Sell-side analysts expect that FormFactor, Inc. will post 0.9 EPS for the current 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 in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.