Algert Global LLC Acquires Shares of 22,627 FormFactor, Inc. (NASDAQ:FORM)

Algert Global LLC bought a new position in shares of FormFactor, Inc. (NASDAQ:FORM) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 22,627 shares of the semiconductor company’s stock, valued at approximately $1,370,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FORM. Riverview Trust Co acquired a new position in FormFactor during the first quarter worth $28,000. Innealta Capital LLC purchased a new position in FormFactor in the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC acquired a new stake in FormFactor in the 2nd quarter worth about $43,000. LRI Investments LLC purchased a new stake in FormFactor during the 1st quarter worth approximately $70,000. Finally, Covestor Ltd raised its holdings in shares of FormFactor by 3,951.3% during the first quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 1,541 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Insider Activity at FormFactor

In other news, Director Jorge Titinger sold 6,770 shares of the firm’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 value of $283,933.80. Following the completion of the transaction, the director now owns 12,970 shares of the company’s stock, valued at $543,961.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total value of $283,933.80. Following the sale, the director now directly owns 12,970 shares in the company, valued at $543,961.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total value of $185,240.00. Following the sale, the chief executive officer now owns 534,276 shares in the company, valued at approximately $24,742,321.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,770 shares of company stock worth $854,014. 0.96% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FORM. TD Cowen lifted their price target on FormFactor from $48.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price target on FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. B. Riley boosted their price objective on FormFactor from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. StockNews.com downgraded FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, DA Davidson boosted their price target on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $59.63.

FormFactor Stock Down 1.4 %

Shares of FORM opened at $44.34 on Friday. The company has a current ratio of 4.46, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a market cap of $3.42 billion, a P/E ratio of 33.42 and a beta of 1.11. The company’s 50-day moving average price is $46.23 and its 200 day moving average price is $50.58. FormFactor, Inc. has a 12-month low of $31.51 and a 12-month high of $63.63.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $197.47 million during the quarter, compared to analysts’ expectations of $195.01 million. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. On average, sell-side analysts forecast that FormFactor, Inc. will post 0.74 earnings per share for the current year.

FormFactor Profile

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.