PNC Financial Services Group Inc. Has $372,000 Stake in FormFactor, Inc. (NASDAQ:FORM)

PNC Financial Services Group Inc. reduced its position in shares of FormFactor, Inc. (NASDAQ:FORM) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,452 shares of the semiconductor company’s stock after selling 1,516 shares during the quarter. PNC Financial Services Group Inc.’s holdings in FormFactor were worth $372,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. D.A. Davidson & CO. grew its holdings in shares of 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 buying an additional 288 shares in the last quarter. Advisors Asset Management Inc. grew its stake in FormFactor by 99.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 309 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of FormFactor by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 415 shares during the period. Manchester Capital Management LLC lifted its position in shares of 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 in the last quarter. Finally, Quarry LP grew its position in FormFactor by 131.7% during the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 523 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup upgraded shares of FormFactor from a “neutral” rating to a “buy” rating and increased their target price for the stock 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 report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of FormFactor in a research note on Thursday, February 6th. Stifel Nicolaus cut their price target on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, B. Riley lowered FormFactor from a “buy” rating to a “neutral” rating and reduced their price target for the company from $64.00 to $34.00 in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $48.50.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the completion of the transaction, the chief executive officer now directly owns 522,531 shares in the company, valued at $23,221,277.64. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.96% of the company’s stock.

FormFactor Stock Performance

Shares of NASDAQ FORM opened at $32.27 on Friday. The business’s 50-day simple moving average is $36.97 and its 200-day simple moving average is $41.16. FormFactor, Inc. has a 52 week low of $30.22 and a 52 week high of $63.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 36.26 and a beta of 1.07.

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