Corient Private Wealth LP bought a new stake in shares of FormFactor, Inc. (NASDAQ:FORM – Free Report) during the second quarter, Holdings Channel reports. The fund bought 6,633 shares of the semiconductor company’s stock, valued at approximately $1,061,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FORM. Bank of America Corp DE acquired a new position in FormFactor during the second quarter worth about $285,257,000. Tiptree Advisors LLC purchased a new position in FormFactor in the 2nd quarter worth approximately $3,918,000. Man Group plc acquired a new position in shares of FormFactor during the 2nd quarter worth approximately $20,124,000. Jupiter Topco LLC purchased a new position in FormFactor during the second quarter worth approximately $5,692,000. Finally, Hsbc Holdings PLC acquired a new position in FormFactor during the second quarter worth $4,497,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.
FormFactor Stock Up 7.4%
Shares of NASDAQ:FORM opened at $103.90 on Friday. The business has a 50-day moving average price of $113.92 and a 200 day moving average price of $117.30. The company has a current ratio of 4.08, a quick ratio of 3.34 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 71.16 and a beta of 1.24. FormFactor, Inc. has a 12-month low of $29.01 and a 12-month high of $160.27.
Analysts Set New Price Targets
Several research firms have recently commented on FORM. Cantor Fitzgerald reiterated an “overweight” rating on shares of FormFactor in a report on Monday, July 27th. B. Riley Financial raised shares of FormFactor from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Thursday, June 11th. Wall Street Zen cut shares of FormFactor from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 9th. Zacks Research raised shares of FormFactor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings upgraded shares of FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.45.
Read Our Latest Research Report on FORM
Insider Transactions at FormFactor
In other news, Director Kelley Steven-Waiss sold 2,100 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $96.10, for a total value of $201,810.00. Following the transaction, the director directly owned 24,426 shares in the company, valued at approximately $2,347,338.60. This represents a 7.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas St. Dennis sold 2,800 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $151.49, for a total transaction of $424,172.00. Following the transaction, the director directly owned 29,073 shares of the company’s stock, valued at $4,404,268.77. The trade was a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 32,792 shares of company stock worth $4,164,295. 0.79% of the stock is currently owned by insiders.
FormFactor Profile
FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.
FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.
See Also
- Five stocks we like better than FormFactor
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
Want to see what other hedge funds are holding FORM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FormFactor, Inc. (NASDAQ:FORM – Free Report).
Receive News & Ratings for FormFactor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FormFactor and related companies with MarketBeat.com's FREE daily email newsletter.
