Mawer Investment Management Ltd. Acquires 29,001 Shares of FormFactor, Inc. $FORM

Mawer Investment Management Ltd. grew its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 14.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,825 shares of the semiconductor company’s stock after purchasing an additional 29,001 shares during the period. Mawer Investment Management Ltd. owned about 0.30% of FormFactor worth $34,614,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Keating Financial Advisory Services Inc. acquired a new stake in shares of FormFactor in the second quarter valued at approximately $25,000. V Square Quantitative Management LLC grew its position in FormFactor by 96.1% during the third quarter. V Square Quantitative Management LLC now owns 253 shares of the semiconductor company’s stock worth $38,000 after buying an additional 124 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in FormFactor during the second quarter worth approximately $43,000. Mather Group LLC. acquired a new stake in FormFactor during the third quarter worth approximately $44,000. Finally, Root Financial Partners LLC acquired a new stake in FormFactor during the third quarter worth approximately $58,000. 98.76% of the stock is owned by institutional investors.

FormFactor Price Performance

Shares of NASDAQ:FORM traded down $4.79 during midday trading on Friday, hitting $87.53. The stock had a trading volume of 1,296,038 shares, compared to its average volume of 1,705,185. The company’s 50-day moving average price is $112.83 and its 200-day moving average price is $113.96. The company has a market capitalization of $6.85 billion, a P/E ratio of 39.97 and a beta of 1.27. The company has a quick ratio of 3.02, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. FormFactor, Inc. has a fifty-two week low of $47.33 and a fifty-two week high of $160.27.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. The company had revenue of $280.55 million during the quarter, compared to the consensus estimate of $270.52 million. FormFactor had a net margin of 17.72% and a return on equity of 18.40%. The firm’s quarterly revenue was up 38.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. As a group, equities research analysts predict that FormFactor, Inc. will post 2.96 EPS for the current fiscal year.

Insider Activity at FormFactor

In other FormFactor news, CEO Mike Slessor sold 17,510 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $104.73, for a total transaction of $1,833,822.30. Following the completion of the transaction, the chief executive officer directly owned 466,694 shares in the company, valued at $48,876,862.62. The trade was a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kelley Steven-Waiss sold 2,100 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $96.10, for a total value of $201,810.00. Following the sale, the director owned 24,426 shares of the company’s stock, valued at $2,347,338.60. The trade was a 7.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 30,708 shares of company stock valued at $3,425,102. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Jefferies Financial Group started coverage on FormFactor in a research note on Wednesday. They set a “buy” rating and a $102.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of FormFactor in a research report on Tuesday, September 22nd. Freedom Capital raised FormFactor from a “hold” rating to a “strong-buy” rating in a report on Monday, November 2nd. B. Riley Financial reduced their target price on FormFactor from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, November 9th. Finally, Wall Street Zen cut FormFactor from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.25.

FormFactor Profile

FormFactor, Inc. designs and manufactures testing and measurement products used in the development and production of semiconductor devices. Its offerings include probe cards, which connect test equipment to semiconductor wafers, as well as probe stations and related systems for electrical and thermal characterization. The company’s products support testing at multiple stages of semiconductor development and manufacturing, including work on advanced integrated circuits and other complex devices. FormFactor serves customers around the world, including semiconductor manufacturers and research organizations.