Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in FormFactor, Inc. (NASDAQ:FORM)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of FormFactor, Inc. (NASDAQ:FORM) by 11.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,050 shares of the semiconductor company’s stock after selling 1,851 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in FormFactor were worth $850,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Riverview Trust Co bought a new position in FormFactor during the first quarter valued at approximately $28,000. Quadrant Capital Group LLC grew its holdings in shares of FormFactor by 19.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 260 shares during the last quarter. LRI Investments LLC purchased a new position in FormFactor in the 1st quarter worth $70,000. Covestor Ltd lifted its stake in FormFactor by 3,951.3% in the first quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,541 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in FormFactor by 30.4% in the first quarter. GAMMA Investing LLC now owns 1,860 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 434 shares during the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

FormFactor Price Performance

Shares of NASDAQ:FORM opened at $44.46 on Thursday. The business has a fifty day moving average price of $52.72 and a 200-day moving average price of $50.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64. The company has a market capitalization of $3.43 billion, a PE ratio of 33.68 and a beta of 1.12. FormFactor, Inc. has a 1-year low of $31.19 and a 1-year high of $63.63.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. The business had revenue of $197.47 million during the quarter, compared to analyst estimates of $195.01 million. As a group, equities analysts expect that FormFactor, Inc. will post 0.74 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $59.00, for a total value of $236,000.00. Following the completion of the sale, the chief executive officer now directly owns 487,581 shares in the company, valued at approximately $28,767,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $59.00, for a total transaction of $236,000.00. Following the sale, the chief executive officer now owns 487,581 shares of the company’s stock, valued at approximately $28,767,279. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the transaction, the director now directly owns 12,970 shares of the company’s stock, valued at $543,961.80. The disclosure for this sale can be found here. Insiders have sold a total of 18,770 shares of company stock valued at $908,894 over the last ninety days. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FORM shares. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of FormFactor in a research note on Thursday, August 1st. B. Riley increased their price objective on FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. TD Cowen increased their target price on shares of FormFactor from $48.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. StockNews.com lowered shares of FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, Stifel Nicolaus lifted their target price on shares of FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.63.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.