Corebridge Financial Inc. Sells 3,217 Shares of FormFactor, Inc. (NASDAQ:FORM)

Corebridge Financial Inc. lowered its holdings in FormFactor, Inc. (NASDAQ:FORM) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,223 shares of the semiconductor company’s stock after selling 3,217 shares during the quarter. Corebridge Financial Inc. owned 0.05% of FormFactor worth $1,814,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of FormFactor by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,581,258 shares of the semiconductor company’s stock valued at $465,575,000 after purchasing an additional 484,176 shares during the period. Sei Investments Co. grew its position in FormFactor by 34.5% in the fourth quarter. Sei Investments Co. now owns 1,595,498 shares of the semiconductor company’s stock valued at $70,202,000 after acquiring an additional 409,304 shares during the period. Royce & Associates LP lifted its holdings in shares of FormFactor by 30.1% during the fourth quarter. Royce & Associates LP now owns 1,757,086 shares of the semiconductor company’s stock valued at $77,312,000 after acquiring an additional 406,768 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of FormFactor in the 4th quarter valued at $14,222,000. Finally, Channing Capital Management LLC grew its holdings in shares of FormFactor by 10.3% in the 4th quarter. Channing Capital Management LLC now owns 1,527,851 shares of the semiconductor company’s stock worth $67,225,000 after purchasing an additional 142,776 shares during the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $28.24, for a total value of $112,960.00. Following the transaction, the chief executive officer now directly owns 514,650 shares in the company, valued at $14,533,716. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.96% of the company’s stock.

FormFactor Price Performance

FormFactor stock opened at $28.73 on Thursday. The business’s 50-day simple moving average is $34.54 and its 200 day simple moving average is $40.27. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 32.28 and a beta of 1.08. FormFactor, Inc. has a 12-month low of $27.55 and a 12-month high of $63.63.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts anticipate that FormFactor, Inc. will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup upgraded shares of FormFactor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $51.00 in a research report on Monday, January 6th. B. Riley lowered FormFactor from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $64.00 to $34.00 in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a research report on Thursday, February 6th. Evercore ISI decreased their target price on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus cut their price target on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.50.

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.