Alps Advisors Inc. Takes Position in FormFactor (FORM)
Alps Advisors Inc. acquired a new stake in FormFactor (NASDAQ:FORM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 31,423 shares of the semiconductor company’s stock, valued at approximately $429,000.
Other large investors have also made changes to their positions in the company. Opus Capital Group LLC acquired a new position in FormFactor in the fourth quarter valued at $2,595,000. Fisher Asset Management LLC boosted its holdings in FormFactor by 5.8% in the fourth quarter. Fisher Asset Management LLC now owns 431,765 shares of the semiconductor company’s stock valued at $6,757,000 after acquiring an additional 23,851 shares during the last quarter. Swiss National Bank boosted its holdings in FormFactor by 4.7% in the fourth quarter. Swiss National Bank now owns 123,500 shares of the semiconductor company’s stock valued at $1,933,000 after acquiring an additional 5,600 shares during the last quarter. First Trust Advisors LP boosted its holdings in FormFactor by 8.4% in the fourth quarter. First Trust Advisors LP now owns 169,822 shares of the semiconductor company’s stock valued at $2,658,000 after acquiring an additional 13,161 shares during the last quarter. Finally, Cigna Investments Inc. New acquired a new position in FormFactor in the fourth quarter valued at $252,000. 82.77% of the stock is owned by institutional investors and hedge funds.
Shares of FormFactor opened at $13.30 on Friday, according to MarketBeat. The stock has a market cap of $945.76 million, a price-to-earnings ratio of 13.30, a P/E/G ratio of 0.94 and a beta of 1.37. FormFactor has a 12 month low of $13.15 and a 12 month high of $13.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.46 and a current ratio of 3.23.
In other FormFactor news, CFO Michael M. Ludwig sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $13.38, for a total transaction of $33,450.00. Following the transaction, the chief financial officer now owns 242,887 shares in the company, valued at $3,249,828.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael W. Zellner sold 15,400 shares of the business’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $13.09, for a total value of $201,586.00. Following the transaction, the director now owns 43,875 shares in the company, valued at approximately $574,323.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,789 shares of company stock worth $1,211,620. 1.30% of the stock is currently owned by insiders.
FORM has been the topic of a number of research analyst reports. Needham & Company LLC cut FormFactor from a “strong-buy” rating to a “buy” rating and reduced their target price for the company from $20.00 to $17.00 in a report on Friday, April 27th. BidaskClub cut FormFactor from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th. B. Riley reiterated a “buy” rating and issued a $20.00 target price (down previously from $22.00) on shares of FormFactor in a report on Monday, January 29th. TheStreet cut FormFactor from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Finally, Zacks Investment Research upgraded FormFactor from a “strong sell” rating to a “hold” rating in a research note on Monday, April 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $17.93.
FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.
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