Insider Selling: FormFactor (NASDAQ:FORM) CEO Sells 39,606 Shares of Stock

FormFactor, Inc. (NASDAQ:FORM) CEO Mike Slessor sold 39,606 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $65.00, for a total transaction of $2,574,390.00. Following the transaction, the chief executive officer directly owned 485,995 shares in the company, valued at $31,589,675. This trade represents a 7.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mike Slessor also recently made the following trade(s):

• On Wednesday, December 17th, Mike Slessor sold 7,669 shares of FormFactor stock. The shares were sold at an average price of $56.36, for a total value of $432,224.84.
• On Wednesday, November 19th, Mike Slessor sold 8,403 shares of FormFactor stock. The stock was sold at an average price of $50.06, for a total transaction of $420,654.18.

FormFactor Price Performance

NASDAQ:FORM traded up $1.31 during mid-day trading on Tuesday, hitting $64.00. The company’s stock had a trading volume of 1,419,287 shares, compared to its average volume of 817,277. The stock has a fifty day moving average of $55.12 and a 200-day moving average of $41.63. The company has a current ratio of 4.30, a quick ratio of 3.46 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 123.08 and a beta of 1.12. FormFactor, Inc. has a fifty-two week low of $22.58 and a fifty-two week high of $66.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Reinhart Partners LLC. lifted its holdings in shares of FormFactor by 64.8% during the second quarter. Reinhart Partners LLC. now owns 1,904,698 shares of the semiconductor company’s stock worth $65,541,000 after buying an additional 749,088 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of FormFactor by 9.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 61,190 shares of the semiconductor company’s stock valued at $2,106,000 after buying an additional 5,295 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of FormFactor during the second quarter worth about $583,000. Harbor Capital Advisors Inc. boosted its position in FormFactor by 54.7% during the second quarter. Harbor Capital Advisors Inc. now owns 162,464 shares of the semiconductor company’s stock valued at $5,590,000 after acquiring an additional 57,470 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of FormFactor by 25.0% during the 2nd quarter. Bessemer Group Inc. now owns 431,321 shares of the semiconductor company’s stock worth $14,841,000 after buying an additional 86,277 shares during the period. 98.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Zacks Research upgraded shares of FormFactor from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of FormFactor in a research note on Wednesday, October 8th. DA Davidson set a $55.00 target price on FormFactor in a report on Thursday, October 30th. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $31.00 to $62.00 in a report on Thursday, October 30th. Finally, TD Cowen upped their price target on shares of FormFactor from $35.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.00.

About FormFactor

FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.