Illinois Municipal Retirement Fund Has $1.96 Million Stake in FormFactor, Inc. (NASDAQ:FORM)

Illinois Municipal Retirement Fund reduced its position in shares of FormFactor, Inc. (NASDAQ:FORM) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,864 shares of the semiconductor company’s stock after selling 4,069 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of FormFactor worth $1,956,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FORM. Wellington Management Group LLP increased its stake in shares of FormFactor by 81.1% during the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after purchasing an additional 862,885 shares during the last quarter. Norges Bank acquired a new position in FormFactor during the fourth quarter worth approximately $21,454,000. TimesSquare Capital Management LLC bought a new stake in FormFactor in the fourth quarter valued at approximately $15,484,000. Vanguard Group Inc. boosted its stake in shares of FormFactor by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock worth $341,007,000 after acquiring an additional 224,599 shares during the period. Finally, Peregrine Capital Management LLC bought a new position in shares of FormFactor during the 4th quarter worth approximately $5,967,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

Insider Activity

In related news, Director Sheri Rhodes sold 13,319 shares of FormFactor stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total transaction of $746,130.38. Following the completion of the transaction, the director now owns 7,634 shares of the company’s stock, valued at $427,656.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $59.00, for a total transaction of $236,000.00. Following the transaction, the chief executive officer now directly owns 487,581 shares of the company’s stock, valued at $28,767,279. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheri Rhodes sold 13,319 shares of FormFactor stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total transaction of $746,130.38. Following the completion of the sale, the director now directly owns 7,634 shares of the company’s stock, valued at approximately $427,656.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,536 shares of company stock valued at $2,075,394. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their target price on FormFactor from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Needham & Company LLC lifted their target price on FormFactor from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. TD Cowen boosted their price target on FormFactor from $37.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Evercore ISI assumed coverage on FormFactor in a research report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price objective on the stock. Finally, Craig Hallum lifted their price objective on shares of FormFactor from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.30.

FormFactor Price Performance

Shares of FORM traded down $0.08 during mid-day trading on Friday, reaching $59.63. The company had a trading volume of 559,817 shares, compared to its average volume of 574,486. The company’s 50 day simple moving average is $57.80 and its 200 day simple moving average is $47.91. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 45.17 and a beta of 1.11. FormFactor, Inc. has a 1-year low of $29.50 and a 1-year high of $63.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 4.51.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The company had revenue of $168.73 million during the quarter, compared to analyst estimates of $165.45 million. FormFactor had a return on equity of 2.29% and a net margin of 15.48%. Analysts expect that FormFactor, Inc. will post 0.72 EPS for the current year.

FormFactor Company Profile

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.