Envestnet Asset Management Inc. Buys 11,707 Shares of FormFactor, Inc. (NASDAQ:FORM)

Envestnet Asset Management Inc. grew its holdings in FormFactor, Inc. (NASDAQ:FORM) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 407,565 shares of the semiconductor company’s stock after acquiring an additional 11,707 shares during the quarter. Envestnet Asset Management Inc. owned 0.53% of FormFactor worth $11,530,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Aviva PLC boosted its position in FormFactor by 2.3% during the fourth quarter. Aviva PLC now owns 14,750 shares of the semiconductor company’s stock valued at $649,000 after purchasing an additional 331 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of FormFactor by 5.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 400 shares during the period. Xponance Inc. increased its stake in shares of FormFactor by 10.1% during the fourth quarter. Xponance Inc. now owns 5,582 shares of the semiconductor company’s stock worth $246,000 after purchasing an additional 511 shares during the period. Ellevest Inc. increased its stake in shares of FormFactor by 7.1% during 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 period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of FormFactor during the fourth quarter worth approximately $27,000. 98.76% of the stock is currently owned by institutional investors.

FormFactor Price Performance

FORM stock opened at $35.28 on Friday. The stock has a market cap of $2.72 billion, a PE ratio of 51.13 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, Inc. has a 12 month low of $22.58 and a 12 month high of $60.73. The company has a 50-day moving average price of $33.53 and a 200 day moving average price of $33.71.

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

Insiders Place Their Bets

In related news, Director Dennis Thomas St sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $31.24, for a total value of $93,720.00. Following the sale, the director directly owned 40,957 shares of the company’s stock, valued at approximately $1,279,496.68. This trade represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $126,880.00. Following the completion of the sale, the chief executive officer 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 disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

FormFactor 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.