The PNC Financial Services Group Inc. Increases Stock Position in FormFactor, Inc. (NASDAQ:FORM)

The PNC Financial Services Group Inc. raised its holdings in FormFactor, Inc. (NASDAQ:FORM) by 10.9% during the first quarter, Holdings Channel.com reports. The firm owned 5,304 shares of the semiconductor company’s stock after purchasing an additional 522 shares during the quarter. The PNC Financial Services Group Inc.’s holdings in FormFactor were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FORM. BlackRock Inc. boosted its stake in shares of FormFactor by 0.3% during the 4th quarter. BlackRock Inc. now owns 11,680,313 shares of the semiconductor company’s stock worth $502,487,000 after acquiring an additional 39,706 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of FormFactor by 12.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,324,501 shares of the semiconductor company’s stock worth $56,980,000 after acquiring an additional 142,614 shares in the last quarter. Norges Bank purchased a new stake in shares of FormFactor during the 4th quarter worth approximately $47,309,000. FMR LLC boosted its stake in shares of FormFactor by 261,685.1% during the 1st quarter. FMR LLC now owns 1,020,962 shares of the semiconductor company’s stock worth $16,427,000 after acquiring an additional 1,020,572 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC purchased a new stake in shares of FormFactor during the 4th quarter worth approximately $19,578,000. 90.48% of the stock is currently owned by institutional investors.

FORM has been the topic of several research analyst reports. Needham & Company LLC boosted their price target on FormFactor from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. DA Davidson raised FormFactor from a “neutral” rating to a “buy” rating in a research note on Friday, June 4th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. FormFactor currently has a consensus rating of “Buy” and a consensus target price of $47.88.

Shares of FORM opened at $34.05 on Friday. The company has a fifty day simple moving average of $40.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.40 and a quick ratio of 2.68. The firm has a market cap of $2.64 billion, a P/E ratio of 32.74 and a beta of 1.39. FormFactor, Inc. has a fifty-two week low of $22.37 and a fifty-two week high of $52.39.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Wednesday, April 28th. The semiconductor company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.05. The company had revenue of $186.64 million during the quarter, compared to the consensus estimate of $183.00 million. FormFactor had a return on equity of 14.24% and a net margin of 11.43%. FormFactor’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. As a group, research analysts anticipate that FormFactor, Inc. will post 1.31 earnings per share for the current year.

In other FormFactor news, CEO Mike Slessor sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $35.83, for a total value of $895,750.00. Following the completion of the transaction, the chief executive officer now directly owns 372,521 shares in the company, valued at approximately $13,347,427.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sheri Rhodes sold 3,549 shares of the company’s stock in a transaction on Tuesday, May 18th. The stock was sold at an average price of $34.50, for a total value of $122,440.50. Following the sale, the director now owns 9,107 shares of the company’s stock, valued at $314,191.50. The disclosure for this sale can be found here. Insiders sold a total of 43,559 shares of company stock valued at $1,538,737 over the last quarter. 0.94% of the stock is currently owned by insiders.

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. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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Institutional Ownership by Quarter for FormFactor (NASDAQ:FORM)

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