Ameriprise Financial Inc. Acquires 569,677 Shares of FormFactor, Inc. (NASDAQ:FORM)

Ameriprise Financial Inc. raised its holdings in FormFactor, Inc. (NASDAQ:FORM) by 138.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 981,926 shares of the semiconductor company’s stock after buying an additional 569,677 shares during the period. Ameriprise Financial Inc.’s holdings in FormFactor were worth $43,205,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Alyeska Investment Group L.P. purchased a new stake in shares of FormFactor in the 4th quarter worth $8,886,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of FormFactor by 2,165.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 111,751 shares of the semiconductor company’s stock worth $4,917,000 after buying an additional 106,819 shares during the period. Northern Trust Corp lifted its holdings in shares of FormFactor by 9.9% in the 4th quarter. Northern Trust Corp now owns 887,877 shares of the semiconductor company’s stock worth $39,067,000 after buying an additional 79,919 shares during the period. Earnest Partners LLC lifted its holdings in shares of FormFactor by 10.9% in the 4th quarter. Earnest Partners LLC now owns 6,037,082 shares of the semiconductor company’s stock worth $265,632,000 after buying an additional 594,426 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of FormFactor in the 4th quarter worth $1,501,000. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Trading Down 0.5%

FormFactor stock opened at $29.81 on Monday. The stock has a 50-day moving average of $28.86 and a two-hundred day moving average of $36.67. 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 $22.58 and a one year high of $63.63. The stock has a market cap of $2.30 billion, a PE ratio of 33.49 and a beta of 1.14.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. FormFactor had a return on equity of 5.93% and a net margin of 9.12%. The company had revenue of $171.36 million during the quarter, compared to analysts’ expectations of $170.03 million. During the same period last year, the business posted $0.18 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that FormFactor, Inc. will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. DA Davidson decreased their price objective on FormFactor from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a report on Thursday, May 1st. B. Riley boosted their target price on shares of FormFactor from $26.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Stifel Nicolaus reduced their target price on shares of FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Evercore ISI reduced their target price on shares of FormFactor from $43.00 to $33.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $42.71.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the transaction, the chief executive officer now directly owns 510,650 shares of the company’s stock, valued at approximately $16,197,818. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is currently owned by company insiders.

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.