HighTower Advisors LLC Sells 379 Shares of FormFactor, Inc. (NASDAQ:FORM)

HighTower Advisors LLC reduced its position in shares of FormFactor, Inc. (NASDAQ:FORM) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,976 shares of the semiconductor company’s stock after selling 379 shares during the quarter. HighTower Advisors LLC’s holdings in FormFactor were worth $791,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of FormFactor by 1,255.5% in the 3rd quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock worth $5,356,000 after buying an additional 107,837 shares during the last quarter. Citigroup Inc. boosted its holdings in FormFactor by 59.4% in the third quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company’s stock valued at $4,867,000 after acquiring an additional 39,419 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in FormFactor by 14.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company’s stock valued at $362,000 after purchasing an additional 972 shares during the period. Intech Investment Management LLC purchased a new position in FormFactor during the 3rd quarter valued at $818,000. Finally, Barclays PLC raised its holdings in FormFactor by 351.9% in the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock worth $6,692,000 after purchasing an additional 113,296 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FORM. Stifel Nicolaus cut 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. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research report on Thursday, February 6th. B. Riley lowered FormFactor from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $64.00 to $34.00 in a research report on Thursday, February 6th. Evercore ISI lowered their target price on FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Finally, Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.50.

FormFactor Stock Performance

FormFactor stock opened at $29.72 on Friday. FormFactor, Inc. has a twelve month low of $29.44 and a twelve month high of $63.63. 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 company has a market capitalization of $2.31 billion, a P/E ratio of 33.39 and a beta of 1.07. The stock’s 50 day moving average is $35.74 and its 200 day moving average is $40.68.

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

Insider Activity at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total value of $155,920.00. Following the transaction, the chief executive officer now directly owns 518,531 shares of the company’s stock, valued at approximately $20,212,338.38. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.96% 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 in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.