FormFactor, Inc. (NASDAQ:FORM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in FormFactor, Inc. (NASDAQ:FORM - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,137,245 shares of the semiconductor company's stock after selling 12,161 shares during the quarter. Bank of New York Mellon Corp owned 1.47% of FormFactor worth $50,039,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FORM. Wealth Enhancement Advisory Services LLC raised its holdings in FormFactor by 9.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,898 shares of the semiconductor company's stock valued at $317,000 after acquiring an additional 573 shares in the last quarter. US Bancorp DE increased its stake in FormFactor by 55.9% in the third quarter. US Bancorp DE now owns 3,401 shares of the semiconductor company's stock valued at $156,000 after purchasing an additional 1,219 shares during the last quarter. New York State Common Retirement Fund increased its stake in FormFactor by 876.0% in the third quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company's stock valued at $14,876,000 after purchasing an additional 290,254 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in FormFactor by 348.5% in the third quarter. Janney Montgomery Scott LLC now owns 31,015 shares of the semiconductor company's stock valued at $1,427,000 after purchasing an additional 24,100 shares during the last quarter. Finally, Olympiad Research LP purchased a new position in FormFactor in the third quarter valued at approximately $330,000. Institutional investors and hedge funds own 98.76% of the company's stock.

Remove Ads

Insider Buying and Selling

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total value of $155,920.00. Following the completion of the sale, the chief executive officer now owns 518,531 shares of the company's stock, valued at approximately $20,212,338.38. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.96% of the company's stock.

FormFactor Stock Performance

Shares of FORM traded up $1.15 during mid-day trading on Friday, reaching $33.00. 875,934 shares of the company's stock were exchanged, compared to its average volume of 898,517. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.83. The business's fifty day simple moving average is $39.30 and its 200-day simple moving average is $42.22. FormFactor, Inc. has a 52-week low of $30.97 and a 52-week high of $63.63. The stock has a market capitalization of $2.56 billion, a PE ratio of 37.08 and a beta of 1.07.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a return on equity of 5.93% and a net margin of 9.12%. On average, equities research analysts expect that FormFactor, Inc. will post 0.9 earnings per share for the current year.

Analyst Ratings Changes

FORM has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a research note on Thursday, February 6th. Evercore ISI dropped their price target on shares of FormFactor from $50.00 to $43.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. Citigroup upgraded shares of 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 research note on Monday, January 6th. Stifel Nicolaus dropped their price target on shares of FormFactor from $48.00 to $42.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Finally, B. Riley lowered shares of FormFactor from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $64.00 to $34.00 in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $48.50.

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.