Citigroup Inc. Has $4.87 Million Stake in FormFactor, Inc. (NASDAQ:FORM)

Citigroup Inc. grew its holdings in FormFactor, Inc. (NASDAQ:FORM) by 59.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,797 shares of the semiconductor company’s stock after purchasing an additional 39,419 shares during the period. Citigroup Inc. owned about 0.14% of FormFactor worth $4,867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of FormFactor by 91.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock valued at $77,636,000 after purchasing an additional 612,838 shares during the period. New York State Common Retirement Fund lifted its position in shares of FormFactor by 876.0% during the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock worth $14,876,000 after buying an additional 290,254 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in FormFactor during the 2nd quarter worth approximately $15,893,000. Renaissance Technologies LLC bought a new position in FormFactor in the second quarter valued at about $13,938,000. Finally, TimesSquare Capital Management LLC increased its position in FormFactor by 29.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 586,700 shares of the semiconductor company’s stock valued at $26,988,000 after acquiring an additional 134,170 shares during the period. 98.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total value of $181,120.00. Following the completion of the transaction, the chief executive officer now directly owns 530,276 shares in the company, valued at approximately $24,010,897.28. This represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is owned by company insiders.

FormFactor Price Performance

FORM stock opened at $42.56 on Tuesday. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. FormFactor, Inc. has a 12 month low of $36.11 and a 12 month high of $63.63. The firm has a market capitalization of $3.30 billion, a P/E ratio of 24.46 and a beta of 1.12. The firm has a 50 day moving average of $42.87 and a 200-day moving average of $49.35.

Wall Street Analyst Weigh In

FORM has been the topic of several research analyst reports. StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Needham & Company LLC lowered their target price on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, TD Cowen lowered their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, FormFactor currently has an average rating of “Hold” and a consensus price target of $55.38.

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.