Hood River Capital Management LLC Purchases New Position in FormFactor Inc. (FORM)
Hood River Capital Management LLC bought a new stake in FormFactor Inc. (NASDAQ:FORM) during the second quarter, Holdings Channel reports. The institutional investor bought 661,349 shares of the company’s stock, valued at approximately $5,946,000.
Several other institutional investors also recently added to or reduced their stakes in FORM. Primecap Management Co. CA increased its position in FormFactor by 1.4% in the first quarter. Primecap Management Co. CA now owns 8,336,959 shares of the company’s stock valued at $60,610,000 after buying an additional 114,041 shares during the period. Renaissance Technologies LLC increased its position in FormFactor by 10.3% in the first quarter. Renaissance Technologies LLC now owns 1,704,800 shares of the company’s stock valued at $12,394,000 after buying an additional 159,411 shares during the period. Wellington Management Group LLP bought a new position in FormFactor during the first quarter valued at approximately $9,595,000. Royce & Associates LP increased its position in FormFactor by 31.3% in the first quarter. Royce & Associates LP now owns 1,214,207 shares of the company’s stock valued at $8,827,000 after buying an additional 289,147 shares during the period. Finally, JPMorgan Chase & Co. increased its position in FormFactor by 60.5% in the first quarter. JPMorgan Chase & Co. now owns 954,375 shares of the company’s stock valued at $6,938,000 after buying an additional 359,700 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.
FormFactor Inc. (NASDAQ:FORM) traded down 0.99% on Thursday, reaching $10.99. 234,135 shares of the company’s stock were exchanged. The firm has a market cap of $775.51 million, a PE ratio of 32.61 and a beta of 0.95. FormFactor Inc. has a one year low of $6.15 and a one year high of $11.19. The firm has a 50 day moving average price of $10.32 and a 200 day moving average price of $8.77.
FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $83.10 million for the quarter, compared to analysts’ expectations of $78.23 million. FormFactor had a net margin of 7.27% and a return on equity of 0.11%. The business’s revenue was up 55.0% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. On average, equities analysts anticipate that FormFactor Inc. will post $0.45 earnings per share for the current year.
Several equities analysts have recently commented on FORM shares. Craig Hallum started coverage on shares of FormFactor in a report on Thursday, September 22nd. They issued a “buy” rating and a $14.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $11.00 target price on shares of FormFactor in a report on Sunday, July 3rd. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target (up previously from $11.00) on shares of FormFactor in a research report on Wednesday, August 3rd. Citigroup Inc. boosted their price target on shares of FormFactor from $8.25 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded shares of FormFactor from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, June 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $12.17.
In other news, Director Dennis Thomas St sold 23,120 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $10.51, for a total transaction of $242,991.20. Following the transaction, the director now owns 164,933 shares in the company, valued at approximately $1,733,445.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Delateur sold 10,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $10.74, for a total value of $107,400.00. Following the transaction, the director now owns 22,000 shares in the company, valued at approximately $236,280. The disclosure for this sale can be found here. Insiders own 2.84% of the company’s stock.
FormFactor, Inc designs, develops, manufactures, sells and supports semiconductor probe card products. The Company is a supplier of probe cards to the manufacturers of dynamic random-access memory (DRAM), flash memory devices, microprocessor, chipset and other system on chip (SoC) devices. Semiconductor manufacturers use its probe cards to perform wafer test, which is the testing of the semiconductor die, or chips.
Want to see what other hedge funds are holding FORM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FormFactor Inc. (NASDAQ:FORM).
Receive News & Ratings for FormFactor Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FormFactor Inc. and related companies with MarketBeat.com's FREE daily email newsletter.