Oppenheimer Asset Management Inc. Lowers Holdings in FormFactor, Inc. (NASDAQ:FORM)

Oppenheimer Asset Management Inc. reduced its stake in FormFactor, Inc. (NASDAQ:FORM) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,100 shares of the semiconductor company’s stock after selling 1,799 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.07% of FormFactor worth $2,535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FORM. Innealta Capital LLC purchased a new stake in FormFactor during the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC bought a new stake in shares of FormFactor during the second quarter valued at approximately $43,000. LRI Investments LLC purchased a new position in FormFactor in the 1st quarter worth approximately $70,000. Covestor Ltd raised its holdings in FormFactor by 3,951.3% in the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 1,541 shares during the last quarter. Finally, CWM LLC lifted its position in FormFactor by 25.5% in the 2nd quarter. CWM LLC now owns 1,823 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 370 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

Insider Transactions at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total transaction of $181,120.00. Following the completion of the sale, the chief executive officer now owns 530,276 shares of the company’s stock, valued at approximately $24,010,897.28. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.96% of the stock is currently owned by company insiders.

FormFactor Stock Down 4.8 %

FORM opened at $37.80 on Friday. The firm’s 50 day simple moving average is $43.55 and its two-hundred day simple moving average is $50.39. The company has a market capitalization of $2.93 billion, a PE ratio of 21.72 and a beta of 1.12. FormFactor, Inc. has a 1-year low of $36.11 and a 1-year high of $63.63. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FORM. Needham & Company LLC dropped their price objective on FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. StockNews.com downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. TD Cowen decreased their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Finally, DA Davidson raised their target price on shares of FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.38.

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.