Envestnet Asset Management Inc. Acquires 2,608 Shares of FormFactor, Inc. (NASDAQ:FORM)

Envestnet Asset Management Inc. boosted its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,518 shares of the semiconductor company’s stock after acquiring an additional 2,608 shares during the period. Envestnet Asset Management Inc. owned about 0.52% of FormFactor worth $24,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Riverview Trust Co bought a new stake in shares of FormFactor in the 1st quarter valued at about $28,000. Innealta Capital LLC bought a new stake in shares of FormFactor in the 2nd quarter valued at about $38,000. Quadrant Capital Group LLC boosted its holdings in shares of FormFactor by 19.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 260 shares in the last quarter. LRI Investments LLC bought a new stake in shares of FormFactor in the 1st quarter valued at about $70,000. Finally, Covestor Ltd boosted its holdings in shares of FormFactor by 3,951.3% in the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 1,541 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

FORM has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price objective on shares of FormFactor in a research report on Thursday, August 1st. B. Riley increased their price objective on shares of FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. DA Davidson increased their price objective on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, TD Cowen increased their price objective on shares of FormFactor from $48.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.63.

FormFactor Stock Performance

FORM opened at $43.94 on Friday. FormFactor, Inc. has a 12-month low of $31.51 and a 12-month high of $63.63. The company has a current ratio of 4.46, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.39 billion, a PE ratio of 33.29 and a beta of 1.11. The firm has a 50 day moving average of $48.40 and a two-hundred day moving average of $50.53.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. The firm had revenue of $197.47 million during the quarter, compared to analyst estimates of $195.01 million. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. On average, analysts anticipate that FormFactor, Inc. will post 0.74 EPS for the current year.

FormFactor Company 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.