FormFactor, Inc. $FORM Stock: Pictet Asset Management Holding SA Lowers Stake

Pictet Asset Management Holding SA cut its stake in FormFactor, Inc. (NASDAQ:FORM) by 35.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,684 shares of the semiconductor company’s stock after selling 229,315 shares during the period. Pictet Asset Management Holding SA’s holdings in FormFactor were worth $63,266,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in FormFactor in the second quarter valued at $1,676,772,000. Andar Capital Management HK Ltd bought a new position in shares of FormFactor during the second quarter worth about $27,000,000. Bank of America Corp DE bought a new position in shares of FormFactor during the second quarter worth about $285,257,000. Primecap Management Co. CA bought a new position in shares of FormFactor during the second quarter worth about $270,300,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of FormFactor in the 2nd quarter worth about $103,844,000. 98.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of FormFactor in a research report on Wednesday, September 30th. They issued a “buy” rating and a $200.00 price objective on the stock. Wall Street Zen raised shares of FormFactor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. Weiss Ratings upgraded shares of FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Zacks Research lowered shares of FormFactor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of FormFactor in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.09.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 11,098 shares of FormFactor stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $125.20, for a total transaction of $1,389,469.60. Following the sale, the chief executive officer directly owned 455,596 shares in the company, valued at $57,040,619.20. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kelley Steven-Waiss sold 2,100 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $96.10, for a total transaction of $201,810.00. Following the completion of the sale, the director directly owned 24,426 shares of the company’s stock, valued at $2,347,338.60. The trade was a 7.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 46,710 shares of company stock worth $5,520,564. Company insiders own 0.79% of the company’s stock.

FormFactor Stock Up 5.0%

Shares of FormFactor stock opened at $85.20 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.02. FormFactor, Inc. has a 1-year low of $47.33 and a 1-year high of $160.27. The business’s fifty day moving average price is $113.39 and its two-hundred day moving average price is $113.66. The company has a market capitalization of $6.68 billion, a P/E ratio of 38.90 and a beta of 1.27.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.18. FormFactor had a return on equity of 18.40% and a net margin of 17.72%. The company had revenue of $280.55 million during the quarter, compared to analysts’ expectations of $270.52 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. As a group, research analysts forecast that FormFactor, Inc. will post 2.96 EPS for the current year.

FormFactor Company Profile

FormFactor, Inc designs and manufactures testing and measurement products used in the development and production of semiconductor devices. Its offerings include probe cards, which connect test equipment to semiconductor wafers, as well as probe stations and related systems for electrical and thermal characterization.

The company’s products support testing at multiple stages of semiconductor development and manufacturing, including work on advanced integrated circuits and other complex devices.