TimesSquare Capital Management LLC Sells 3,387 Shares of FormFactor, Inc. (NASDAQ:FORM)

TimesSquare Capital Management LLC cut its stake in shares of FormFactor, Inc. (NASDAQ:FORM) by 0.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 583,313 shares of the semiconductor company’s stock after selling 3,387 shares during the period. TimesSquare Capital Management LLC’s holdings in FormFactor were worth $25,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FORM. D.A. Davidson & CO. grew its position in FormFactor by 5.5% during the fourth quarter. D.A. Davidson & CO. now owns 5,510 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 288 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in FormFactor by 99.4% in the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 309 shares during the period. Glenmede Trust Co. NA boosted its position in FormFactor by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 415 shares during the last quarter. Manchester Capital Management LLC boosted its position in FormFactor by 63.8% in the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 440 shares during the last quarter. Finally, Quarry LP boosted its position in FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 523 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors.

Insider Activity at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the sale, the chief executive officer now owns 522,531 shares of the company’s stock, valued at $23,221,277.64. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 12,000 shares of company stock valued at $496,040 over the last quarter. 0.96% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FORM shares. Evercore ISI dropped their target price on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $64.00 to $34.00 in a report on Thursday, February 6th. Stifel Nicolaus lowered their price target on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a report on Thursday, February 6th. Finally, Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $51.00 in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.50.

FormFactor Stock Performance

FORM stock opened at $37.58 on Thursday. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $42.01 and its two-hundred day simple moving average is $43.26. FormFactor, Inc. has a twelve month low of $32.71 and a twelve month high of $63.63. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 42.23 and a beta of 1.07.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a return on equity of 5.93% and a net margin of 9.12%. Analysts predict that FormFactor, Inc. will post 0.9 earnings per share for the current year.

FormFactor Company 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.