State of New Jersey Common Pension Fund D Trims Stock Holdings in FormFactor, Inc. (NASDAQ:FORM)

State of New Jersey Common Pension Fund D lowered its stake in shares of FormFactor, Inc. (NASDAQ:FORM) by 49.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,906 shares of the semiconductor company’s stock after selling 32,298 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FormFactor were worth $1,992,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in FormFactor by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,622,484 shares of the semiconductor company’s stock worth $439,074,000 after purchasing an additional 154,361 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of FormFactor by 0.6% in the first quarter. Earnest Partners LLC now owns 6,091,217 shares of the semiconductor company’s stock worth $277,942,000 after buying an additional 37,781 shares in the last quarter. Hood River Capital Management LLC boosted its position in shares of FormFactor by 7.2% in the first quarter. Hood River Capital Management LLC now owns 2,079,052 shares of the semiconductor company’s stock valued at $94,867,000 after acquiring an additional 140,223 shares during the period. Wellington Management Group LLP grew its stake in FormFactor by 81.1% during the fourth quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock valued at $80,387,000 after acquiring an additional 862,885 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in FormFactor by 5.4% during the 1st quarter. Sei Investments Co. now owns 1,493,665 shares of the semiconductor company’s stock worth $68,156,000 after acquiring an additional 76,032 shares during the period. 98.76% of the stock is owned by institutional investors.

FormFactor Stock Down 1.9 %

Shares of NASDAQ FORM opened at $43.94 on Friday. The stock has a market capitalization of $3.39 billion, a P/E ratio of 33.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64. FormFactor, Inc. has a one year low of $31.51 and a one year high of $63.63. The firm’s 50 day simple moving average is $48.71 and its two-hundred day simple moving average is $50.49.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. The company had revenue of $197.47 million for the quarter, compared to analysts’ expectations of $195.01 million. As a group, analysts expect that FormFactor, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total transaction of $185,240.00. Following the transaction, the chief executive officer now directly owns 534,276 shares in the company, valued at approximately $24,742,321.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total transaction of $185,240.00. Following the completion of the sale, the chief executive officer now owns 534,276 shares of the company’s stock, valued at $24,742,321.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction 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 directly owns 12,970 shares in the company, valued at $543,961.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,770 shares of company stock valued at $908,894. Insiders own 0.96% of the company’s stock.

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.