MIG Capital LLC Takes $349,000 Position in FormFactor, Inc. (NASDAQ:FORM)

MIG Capital LLC purchased a new position in shares of FormFactor, Inc. (NASDAQ:FORM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,922 shares of the semiconductor company’s stock, valued at approximately $349,000. FormFactor comprises about 0.0% of MIG Capital LLC’s holdings, making the stock its 28th largest holding.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of FormFactor by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,581,258 shares of the semiconductor company’s stock valued at $465,575,000 after purchasing an additional 484,176 shares during the period. Alliancebernstein L.P. lifted its stake in FormFactor by 127.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,114,779 shares of the semiconductor company’s stock valued at $137,050,000 after buying an additional 1,742,493 shares during the period. State Street Corp boosted its holdings in FormFactor by 1.4% during the third quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock worth $134,019,000 after buying an additional 39,784 shares during the last quarter. Geode Capital Management LLC grew its position in shares of FormFactor by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 2,103,612 shares of the semiconductor company’s stock worth $92,577,000 after buying an additional 36,438 shares during the period. Finally, Royce & Associates LP raised its position in shares of FormFactor by 30.1% in the 4th quarter. Royce & Associates LP now owns 1,757,086 shares of the semiconductor company’s stock valued at $77,312,000 after acquiring an additional 406,768 shares during the period. 98.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $38.98, for a total value of $155,920.00. Following the completion of the transaction, the chief executive officer now owns 518,531 shares of the company’s stock, valued at $20,212,338.38. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.96% of the stock is owned by company insiders.

FormFactor Stock Down 4.3 %

FormFactor stock opened at $24.17 on Friday. The company has a fifty day simple moving average of $33.84 and a 200 day simple moving average of $40.02. The company has a current ratio of 4.61, a quick ratio of 3.83 and a debt-to-equity ratio of 0.01. FormFactor, Inc. has a 1-year low of $22.84 and a 1-year high of $63.63. The company has a market cap of $1.87 billion, a P/E ratio of 27.16 and a beta of 1.08.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) 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.

Analyst Ratings Changes

Several brokerages have commented on FORM. Evercore ISI cut their target price on shares of FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus dropped their price objective on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and decreased their target price for the company from $64.00 to $34.00 in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research report on Thursday, February 6th. Finally, Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, FormFactor currently has a consensus rating of “Hold” and a consensus target price of $48.50.

FormFactor 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.