California State Teachers Retirement System Reduces Stake in FormFactor, Inc. (FORM)
California State Teachers Retirement System cut its position in FormFactor, Inc. (NASDAQ:FORM) by 9.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 115,242 shares of the semiconductor company’s stock after selling 12,301 shares during the period. California State Teachers Retirement System’s holdings in FormFactor were worth $1,942,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of FORM. Gotham Asset Management LLC acquired a new stake in shares of FormFactor in the second quarter valued at $140,000. Advisor Group Inc. grew its stake in shares of FormFactor by 105.4% in the third quarter. Advisor Group Inc. now owns 9,566 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 4,909 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of FormFactor in the third quarter valued at $172,000. Quantbot Technologies LP grew its stake in shares of FormFactor by 3,136.6% in the second quarter. Quantbot Technologies LP now owns 14,662 shares of the semiconductor company’s stock valued at $181,000 after buying an additional 14,209 shares in the last quarter. Finally, Csenge Advisory Group acquired a new stake in shares of FormFactor in the third quarter valued at $206,000. 84.56% of the stock is owned by institutional investors and hedge funds.
In related news, Director Richard Delateur sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $17.69, for a total transaction of $265,350.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $442,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael M. Ludwig sold 16,845 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $17.50, for a total value of $294,787.50. Following the transaction, the chief financial officer now directly owns 241,132 shares of the company’s stock, valued at $4,219,810. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
FORM has been the subject of a number of research reports. Needham & Company LLC raised FormFactor from a “buy” rating to a “strong-buy” rating and lifted their price objective for the company from $20.00 to $22.00 in a research note on Thursday, December 14th. Citigroup lifted their price objective on FormFactor from $16.00 to $17.40 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Finally, B. Riley lifted their price objective on FormFactor from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. FormFactor presently has an average rating of “Buy” and an average target price of $18.63.
FormFactor, Inc. (NASDAQ:FORM) opened at $15.20 on Thursday. FormFactor, Inc. has a one year low of $10.45 and a one year high of $18.65. The company has a market capitalization of $1,100.00, a price-to-earnings ratio of 58.46, a P/E/G ratio of 0.87 and a beta of 1.46. The company has a current ratio of 3.16, a quick ratio of 2.45 and a debt-to-equity ratio of 0.20.
FormFactor (NASDAQ:FORM) last released its earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. FormFactor had a return on equity of 16.80% and a net margin of 3.68%. The firm had revenue of $143.74 million during the quarter, compared to analysts’ expectations of $140.83 million. During the same period in the previous year, the firm posted $0.22 EPS. FormFactor’s revenue for the quarter was up 16.6% on a year-over-year basis. analysts anticipate that FormFactor, Inc. will post 1.04 earnings per share for the current fiscal year.
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FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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