Bank of New York Mellon Corp Reduces Stake in FormFactor, Inc. (NASDAQ:FORM)

Bank of New York Mellon Corp cut its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,137,245 shares of the semiconductor company’s stock after selling 12,161 shares during the period. Bank of New York Mellon Corp owned 1.47% of FormFactor worth $50,039,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its stake in shares of FormFactor by 99.4% in the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock worth $29,000 after buying an additional 309 shares during the period. Quarry LP increased its holdings in FormFactor by 131.7% in the 3rd quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 523 shares in the last quarter. Manchester Capital Management LLC raised its stake in FormFactor by 63.8% during the 4th quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 440 shares during the period. IFP Advisors Inc lifted its holdings in FormFactor by 4,732.4% during the fourth quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 1,609 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of FormFactor by 55.9% in the third quarter. US Bancorp DE now owns 3,401 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 1,219 shares during the period. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Insider Activity

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the sale, the chief executive officer now directly owns 522,531 shares in the company, valued at $23,221,277.64. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FORM shares. Stifel Nicolaus lowered their target price on shares of FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Evercore ISI lowered their price objective on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $51.00 in a research report on Monday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of FormFactor in a report on Thursday, February 6th. Finally, B. Riley downgraded FormFactor from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $34.00 in a research note on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.50.

FormFactor Stock Up 2.6 %

Shares of FORM opened at $32.38 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.83. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 36.38 and a beta of 1.07. FormFactor, Inc. has a 1 year low of $30.97 and a 1 year high of $63.63. The business’s 50 day simple moving average is $40.17 and its 200-day simple moving average is $42.54.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. As a group, equities analysts expect that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

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.