Teacher Retirement System of Texas Decreases Stake in FormFactor, Inc. (NASDAQ:FORM)

Teacher Retirement System of Texas reduced its position in FormFactor, Inc. (NASDAQ:FORM) by 71.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,963 shares of the semiconductor company’s stock after selling 34,517 shares during the quarter. Teacher Retirement System of Texas’ holdings in FormFactor were worth $395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FORM. Aviva PLC lifted its holdings in shares of FormFactor by 2.3% in the 4th quarter. Aviva PLC now owns 14,750 shares of the semiconductor company’s stock worth $649,000 after buying an additional 331 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of FormFactor by 5.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock valued at $356,000 after buying an additional 400 shares in the last quarter. Xponance Inc. raised its stake in shares of FormFactor by 10.1% during the 4th quarter. Xponance Inc. now owns 5,582 shares of the semiconductor company’s stock worth $246,000 after acquiring an additional 511 shares in the last quarter. Ellevest Inc. grew its holdings in FormFactor by 7.1% in the fourth quarter. Ellevest Inc. now owns 8,907 shares of the semiconductor company’s stock worth $392,000 after purchasing an additional 590 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of FormFactor during the 4th quarter valued at $27,000. 98.76% of the stock is currently owned by institutional investors.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction 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 completion of the sale, the chief executive officer directly owned 510,650 shares of the company’s stock, valued at approximately $16,197,818. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis Thomas St sold 3,000 shares of the firm’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 in the company, valued at $1,279,496.68. This represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FORM shares. B. Riley upped their price target 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. Evercore ISI decreased their price target on FormFactor from $43.00 to $33.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Needham & Company LLC restated a “hold” rating on shares of FormFactor in a research report on Thursday, May 1st. Finally, DA Davidson dropped their target price on FormFactor from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $42.71.

FormFactor Stock Performance

Shares of FORM stock opened at $35.91 on Friday. FormFactor, Inc. has a 1-year low of $22.58 and a 1-year high of $60.73. The company has a current ratio of 4.45, a quick ratio of 3.56 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 52.04 and a beta of 1.15. The stock’s fifty day simple moving average is $33.42 and its 200-day simple moving average is $33.84.

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

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.