GAMMA Investing LLC Increases Holdings in FormFactor, Inc. (NASDAQ:FORM)

GAMMA Investing LLC grew its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 4,208.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,343 shares of the semiconductor company’s stock after purchasing an additional 145,877 shares during the quarter. GAMMA Investing LLC owned approximately 0.19% of FormFactor worth $4,225,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of FormFactor during the 4th quarter valued at $27,000. Versant Capital Management Inc increased its position in shares of FormFactor by 256.3% during the 1st quarter. Versant Capital Management Inc now owns 1,197 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 861 shares during the last quarter. Pinpoint Asset Management Ltd bought a new position in shares of FormFactor during the 4th quarter worth $43,000. Manchester Capital Management LLC grew its stake in shares of FormFactor by 63.8% during the 4th quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 440 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of FormFactor by 4,732.4% during the 4th quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 1,609 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FORM. Evercore ISI cut their price target on FormFactor from $43.00 to $33.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a research note on Thursday, May 1st. DA Davidson cut their price target on FormFactor from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, B. Riley increased their price target on FormFactor from $26.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, FormFactor has an average rating of “Hold” and an average price target of $42.71.

FormFactor Stock Up 3.0%

Shares of NASDAQ FORM opened at $35.20 on Wednesday. FormFactor, Inc. has a 52 week low of $22.58 and a 52 week high of $63.63. The business has a 50-day simple moving average of $29.30 and a two-hundred day simple moving average of $35.33. 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 company has a market cap of $2.71 billion, a P/E ratio of 39.55 and a beta of 1.13.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. FormFactor had a return on equity of 5.93% and a net margin of 9.12%. The business had revenue of $171.36 million during the quarter, compared to the consensus estimate of $170.03 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at FormFactor

In related news, Director Dennis Thomas St sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $31.24, for a total transaction of $93,720.00. Following the transaction, the director now directly owns 40,957 shares of the company’s stock, valued at approximately $1,279,496.68. This trade represents a 6.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $31.72, for a total value of $126,880.00. Following the transaction, the chief executive officer now directly owns 510,650 shares in the company, valued at approximately $16,197,818. This represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock valued at $333,560 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

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.