Bank of New York Mellon Corp Sells 362,169 Shares of FormFactor, Inc. (NASDAQ:FORM)

Bank of New York Mellon Corp decreased its position in shares of FormFactor, Inc. (NASDAQ:FORM) by 31.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 775,076 shares of the semiconductor company’s stock after selling 362,169 shares during the period. Bank of New York Mellon Corp owned about 1.01% of FormFactor worth $21,927,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in FormFactor by 52.3% in the first quarter. GAMMA Investing LLC now owns 5,279 shares of the semiconductor company’s stock worth $149,000 after acquiring an additional 1,813 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of FormFactor by 104.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,245 shares of the semiconductor company’s stock worth $431,000 after purchasing an additional 7,787 shares during the last quarter. Swiss National Bank grew its stake in FormFactor by 0.9% during the 4th quarter. Swiss National Bank now owns 152,200 shares of the semiconductor company’s stock valued at $6,697,000 after acquiring an additional 1,400 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of FormFactor by 25.2% in the 4th quarter. Teacher Retirement System of Texas now owns 48,480 shares of the semiconductor company’s stock valued at $2,133,000 after buying an additional 9,752 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in FormFactor during the 4th quarter worth about $1,123,000. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Trading Up 2.3%

NASDAQ FORM opened at $35.91 on Friday. The stock has a 50 day moving average of $33.42 and a 200-day moving average of $33.84. FormFactor, Inc. has a 12 month low of $22.58 and a 12 month high of $60.73. The company has a market cap of $2.77 billion, a PE ratio of 52.04 and a beta of 1.15. The company has a current ratio of 4.45, a quick ratio of 3.56 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $171.36 million for the quarter, compared to analyst estimates of $170.03 million. FormFactor had a return on equity of 6.47% and a net margin of 7.08%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. On average, equities research analysts anticipate that FormFactor, Inc. will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

FORM has been the topic of several research analyst reports. Evercore ISI cut their price target on shares of FormFactor from $43.00 to $33.00 and set an “in-line” rating on the stock in a research note on Thursday, May 1st. B. Riley upped their target price on shares of FormFactor from $26.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of FormFactor in a report on Thursday, May 1st. Finally, DA Davidson lowered their target price on shares of FormFactor from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.71.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the sale, the chief executive officer directly owned 510,650 shares in the company, valued at approximately $16,197,818. This trade represents a 0.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis Thomas St sold 3,000 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $31.24, for a total value of $93,720.00. Following the completion of the transaction, the director owned 40,957 shares of the company’s stock, valued at $1,279,496.68. This represents a 6.82% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

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.