PNC Financial Services Group Inc. Sells 1,596 Shares of FormFactor, Inc. (NASDAQ:FORM)

PNC Financial Services Group Inc. trimmed its position in shares of FormFactor, Inc. (NASDAQ:FORMFree Report) by 20.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,399 shares of the semiconductor company’s stock after selling 1,596 shares during the period. PNC Financial Services Group Inc.’s holdings in FormFactor were worth $267,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in FormFactor in the 4th quarter worth approximately $55,000. Quadrant Capital Group LLC boosted its position in shares of FormFactor by 19.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 260 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in FormFactor during the third quarter valued at $70,000. Mackenzie Financial Corp purchased a new position in FormFactor during the fourth quarter valued at $202,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in FormFactor in the 3rd quarter worth $207,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

FormFactor Stock Performance

Shares of NASDAQ:FORM opened at $54.69 on Friday. The company has a current ratio of 4.51, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. FormFactor, Inc. has a 12 month low of $29.50 and a 12 month high of $60.78. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 41.43 and a beta of 1.11. The firm’s 50-day moving average is $50.45 and its 200 day moving average is $44.16.

FormFactor (NASDAQ:FORMGet Free Report) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). FormFactor had a net margin of 15.48% and a return on equity of 2.29%. The business had revenue of $168.73 million for the quarter, compared to the consensus estimate of $165.45 million. Research analysts predict that FormFactor, Inc. will post 0.72 EPS for the current year.

Insider Transactions at FormFactor

In other news, Director Rebeca Obregon-Jimenez sold 4,833 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $57.59, for a total value of $278,332.47. Following the transaction, the director now directly owns 10,598 shares in the company, valued at $610,338.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Rebeca Obregon-Jimenez sold 4,833 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $57.59, for a total value of $278,332.47. Following the completion of the sale, the director now owns 10,598 shares in the company, valued at $610,338.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis Thomas St sold 2,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $56.30, for a total value of $112,600.00. Following the transaction, the director now owns 36,701 shares in the company, valued at $2,066,266.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,536 shares of company stock worth $2,023,154. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FORM has been the subject of a number of research analyst reports. B. Riley raised their price objective on FormFactor from $54.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Needham & Company LLC raised their price target on FormFactor from $46.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Evercore ISI assumed coverage on FormFactor in a report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price objective on the stock. StockNews.com downgraded FormFactor from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Stifel Nicolaus boosted their price target on shares of FormFactor from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.40.

Check Out Our Latest Stock Analysis on FormFactor

About FormFactor

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for FormFactor (NASDAQ:FORM)

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