Envestnet Asset Management Inc. Increases Stock Position in FormFactor, Inc. (NASDAQ:FORM)

Envestnet Asset Management Inc. increased its position in FormFactor, Inc. (NASDAQ:FORM) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 395,858 shares of the semiconductor company’s stock after buying an additional 32,843 shares during the quarter. Envestnet Asset Management Inc. owned about 0.51% of FormFactor worth $17,418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinpoint Asset Management Ltd acquired a new stake in FormFactor during the 4th quarter worth approximately $43,000. Manchester Capital Management LLC increased its position in shares of FormFactor by 63.8% in the fourth 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 in the last quarter. IFP Advisors Inc raised its stake in shares of FormFactor by 4,732.4% in the 4th quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 1,609 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of FormFactor by 146.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,986 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 1,181 shares in the last quarter. Finally, KBC Group NV raised its position in FormFactor by 90.0% in the fourth quarter. KBC Group NV now owns 3,625 shares of the semiconductor company’s stock valued at $160,000 after purchasing an additional 1,717 shares during the period. Institutional investors and hedge funds own 98.76% of the company’s stock.

FormFactor Stock Performance

FORM stock opened at $27.11 on Wednesday. The firm has a 50 day simple moving average of $31.52 and a 200 day simple moving average of $38.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61. FormFactor, Inc. has a 52 week low of $22.58 and a 52 week high of $63.63. The stock has a market cap of $2.10 billion, a P/E ratio of 30.46 and a beta of 1.15.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share 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%. Research analysts anticipate that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 514,650 shares in the company, valued at approximately $14,533,716. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.96% of the company’s stock.

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.