Bank of America Corp DE Acquires 585,117 Shares of FormFactor, Inc. (NASDAQ:FORM)

Bank of America Corp DE grew its holdings in FormFactor, Inc. (NASDAQ:FORM) by 29.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,542,296 shares of the semiconductor company’s stock after acquiring an additional 585,117 shares during the quarter. Bank of America Corp DE’s holdings in FormFactor were worth $111,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alliancebernstein L.P. raised its stake in FormFactor by 127.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,114,779 shares of the semiconductor company’s stock valued at $137,050,000 after purchasing an additional 1,742,493 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of FormFactor by 10.9% during the 4th quarter. Earnest Partners LLC now owns 6,037,082 shares of the semiconductor company’s stock worth $265,632,000 after purchasing an additional 594,426 shares during the period. Ameriprise Financial Inc. raised its position in shares of FormFactor by 138.2% during the fourth quarter. Ameriprise Financial Inc. now owns 981,926 shares of the semiconductor company’s stock valued at $43,205,000 after buying an additional 569,677 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of FormFactor by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 10,581,258 shares of the semiconductor company’s stock valued at $465,575,000 after buying an additional 484,176 shares during the period. Finally, Sei Investments Co. grew its position in FormFactor by 34.5% during the fourth quarter. Sei Investments Co. now owns 1,595,498 shares of the semiconductor company’s stock worth $70,202,000 after buying an additional 409,304 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

Insider Transactions at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $28.24, for a total value of $112,960.00. Following the completion of the transaction, the chief executive officer now owns 514,650 shares in the company, valued at approximately $14,533,716. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FORM has been the subject of a number of research reports. B. Riley raised their price objective on FormFactor from $26.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Stifel Nicolaus reduced their target price on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Evercore ISI lowered their price target on shares of FormFactor from $43.00 to $33.00 and set an “in-line” rating on the stock in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a report on Thursday, May 1st. Finally, DA Davidson lowered their target price on shares of FormFactor from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, FormFactor has a consensus rating of “Hold” and a consensus target price of $42.71.

FormFactor Stock Down 0.5 %

Shares of NASDAQ:FORM opened at $29.81 on Friday. The company’s fifty day moving average is $28.86 and its 200-day moving average is $36.72. 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 52 week low of $22.58 and a 52 week high of $63.63. The company has a market capitalization 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. The firm had revenue of $171.36 million for the quarter, compared to analyst estimates of $170.03 million. FormFactor had a net margin of 9.12% and a return on equity of 5.93%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. Equities research analysts predict that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

About FormFactor

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.