Renaissance Technologies LLC Purchases Shares of 230,268 FormFactor, Inc. (NASDAQ:FORM)

Renaissance Technologies LLC acquired a new position in FormFactor, Inc. (NASDAQ:FORM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 230,268 shares of the semiconductor company’s stock, valued at approximately $13,938,000. Renaissance Technologies LLC owned approximately 0.30% of FormFactor as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of FormFactor in the first quarter valued at $28,000. Innealta Capital LLC acquired a new position in FormFactor in the 2nd quarter worth $38,000. Redwood Wealth Management Group LLC purchased a new position in FormFactor in the 2nd quarter valued at about $43,000. LRI Investments LLC acquired a new stake in shares of FormFactor during the first quarter valued at about $70,000. Finally, Covestor Ltd increased its position in shares of FormFactor by 3,951.3% during the first quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 1,541 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

FormFactor Stock Performance

FORM stock opened at $43.94 on Monday. The company has a 50-day simple moving average of $48.40 and a 200 day simple moving average of $50.57. The company has a market capitalization of $3.39 billion, a P/E ratio of 33.29 and a beta of 1.11. The company has a quick ratio of 3.64, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. FormFactor, Inc. has a fifty-two week low of $31.51 and a fifty-two week high of $63.63.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. The business had revenue of $197.47 million during the quarter, compared to analysts’ expectations of $195.01 million. Sell-side analysts predict that FormFactor, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $59.00, for a total transaction of $236,000.00. Following the transaction, the chief executive officer now directly owns 487,581 shares of the company’s stock, valued at $28,767,279. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.00, for a total transaction of $236,000.00. Following the completion of the sale, the chief executive officer now directly owns 487,581 shares of the company’s stock, valued at $28,767,279. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total transaction of $283,933.80. Following the completion of the transaction, the director now owns 12,970 shares in the company, valued at approximately $543,961.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,770 shares of company stock worth $908,894. 0.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FORM has been the subject of several research analyst reports. DA Davidson increased their target price on FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen raised their price objective on shares of FormFactor from $48.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. B. Riley upped their target price on shares of FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. StockNews.com downgraded FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus boosted their price objective on FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.63.

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.