Geode Capital Management LLC Grows Stake in FormFactor, Inc. (NASDAQ:FORM)

Geode Capital Management LLC increased its holdings in FormFactor, Inc. (NASDAQ:FORM) by 3.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,067,174 shares of the semiconductor company’s stock after buying an additional 73,982 shares during the period. Geode Capital Management LLC owned 2.67% of FormFactor worth $95,105,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its position in shares of FormFactor by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,800 shares of the semiconductor company’s stock valued at $2,349,000 after purchasing an additional 200 shares during the last quarter. Xponance Inc. increased its holdings in FormFactor by 5.1% during the 2nd quarter. Xponance Inc. now owns 4,925 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 241 shares during the period. Advisors Asset Management Inc. raised its position in FormFactor by 99.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 309 shares during the last quarter. Arizona State Retirement System lifted its holdings in FormFactor by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 21,724 shares of the semiconductor company’s stock worth $1,315,000 after buying an additional 331 shares during the period. Finally, Glenmede Trust Co. NA grew its position in shares of FormFactor by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company’s stock worth $276,000 after buying an additional 415 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

FormFactor Trading Down 5.1 %

Shares of NASDAQ FORM opened at $42.44 on Friday. The stock has a market cap of $3.29 billion, a P/E ratio of 24.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94. FormFactor, Inc. has a 1 year low of $37.21 and a 1 year high of $63.63. The firm has a 50-day moving average of $42.09 and a 200 day moving average of $48.05.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FORM. TD Cowen dropped their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reduced their price target on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, FormFactor has an average rating of “Hold” and an average target price of $55.38.

Insider Activity at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $40.59, for a total transaction of $162,360.00. Following the sale, the chief executive officer now directly owns 526,531 shares of the company’s stock, valued at $21,371,893.29. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.