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

Victory Capital Management Inc. lowered its position in FormFactor, Inc. (NASDAQ:FORM - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of FormFactor by 1.4% in the third quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company's stock worth $134,019,000 after purchasing an additional 39,784 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of FormFactor by 3.7% during the third quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company's stock worth $95,105,000 after acquiring an additional 73,982 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of FormFactor by 8.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company's stock worth $48,928,000 after acquiring an additional 79,191 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of FormFactor by 3.9% in 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 purchasing an additional 34,338 shares in the last quarter. Finally, Needham Investment Management LLC lifted its holdings in FormFactor by 8.6% during the 3rd quarter. Needham Investment Management LLC now owns 620,000 shares of the semiconductor company's stock worth $28,520,000 after purchasing an additional 49,000 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of research analysts have weighed in on FORM shares. Stifel Nicolaus reduced their target price on FormFactor from $48.00 to $42.00 and set a "hold" rating for the company in a report on Thursday, February 6th. B. Riley lowered shares of FormFactor from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $64.00 to $34.00 in a report on Thursday, February 6th. Citigroup raised shares of FormFactor from a "neutral" rating to a "buy" rating and raised their price target for the company from $44.00 to $51.00 in a report on Monday, January 6th. Needham & Company LLC restated a "hold" rating on shares of FormFactor in a research report on Thursday, February 6th. Finally, Evercore ISI lowered their price objective on FormFactor from $50.00 to $43.00 and set an "in-line" rating on the stock 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 MarketBeat, FormFactor presently has an average rating of "Hold" and an average price target of $48.50.

Insiders Place Their Bets

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total value of $177,760.00. Following the transaction, the chief executive officer now directly owns 522,531 shares of the company's stock, valued at $23,221,277.64. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.96% of the company's stock.

FormFactor Price Performance

NASDAQ:FORM traded up $1.24 during mid-day trading on Monday, reaching $32.35. The stock had a trading volume of 761,104 shares, compared to its average volume of 692,900. The stock has a market capitalization of $2.51 billion, a P/E ratio of 36.35 and a beta of 1.07. The firm has a 50 day moving average price of $36.71 and a two-hundred day moving average price of $40.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61. FormFactor, Inc. has a one year low of $29.94 and a one year high of $63.63.

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