Harvest Fund Management Co. Ltd Makes New Investment in FormFactor, Inc. (NASDAQ:FORM)

Harvest Fund Management Co. Ltd bought a new position in FormFactor, Inc. (NASDAQ:FORM) in the fourth quarter, Holdings Channel.com reports. The fund bought 4,029 shares of the semiconductor company’s stock, valued at approximately $177,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in FormFactor by 1.4% in the third quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock worth $134,019,000 after purchasing an additional 39,784 shares during the period. Geode Capital Management LLC increased its holdings in shares of FormFactor by 3.7% in the third quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock valued at $95,105,000 after buying an additional 73,982 shares in the last quarter. Royce & Associates LP lifted its position in shares of FormFactor by 30.1% during the 4th quarter. Royce & Associates LP now owns 1,757,086 shares of the semiconductor company’s stock valued at $77,312,000 after acquiring an additional 406,768 shares during the last quarter. Channing Capital Management LLC lifted its position in shares of FormFactor by 10.3% during the 4th quarter. Channing Capital Management LLC now owns 1,527,851 shares of the semiconductor company’s stock valued at $67,225,000 after acquiring an additional 142,776 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of FormFactor by 8.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company’s stock valued at $48,928,000 after acquiring an additional 79,191 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

FormFactor Price Performance

FORM opened at $31.11 on Friday. The stock has a fifty day moving average of $36.71 and a 200-day moving average of $41.01. The firm has a market capitalization of $2.41 billion, a P/E ratio of 34.96 and a beta of 1.07. FormFactor, Inc. has a 12-month low of $30.22 and a 12-month high of $63.63. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01.

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

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total transaction of $155,920.00. Following the completion of the sale, the chief executive officer now directly owns 518,531 shares in the company, valued at approximately $20,212,338.38. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FORM has been the subject of a number of recent research reports. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Evercore ISI cut their price objective on FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a research report on Thursday, February 6th. Stifel Nicolaus cut their price objective on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Finally, B. Riley downgraded FormFactor from a “buy” rating to a “neutral” rating and cut their price objective for the company from $64.00 to $34.00 in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.50.

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.