Peregrine Capital Management LLC Acquires 618,775 Shares of FormFactor, Inc. (FORM)
Peregrine Capital Management LLC boosted its holdings in shares of FormFactor, Inc. (NASDAQ:FORM) by 32.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,504,269 shares of the semiconductor company’s stock after purchasing an additional 618,775 shares during the period. FormFactor makes up approximately 0.9% of Peregrine Capital Management LLC’s holdings, making the stock its 11th biggest position. Peregrine Capital Management LLC’s holdings in FormFactor were worth $39,192,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in FormFactor by 4.4% during the second quarter. Vanguard Group Inc. now owns 5,971,401 shares of the semiconductor company’s stock valued at $74,045,000 after purchasing an additional 253,323 shares during the last quarter. Victory Capital Management Inc. lifted its stake in FormFactor by 1.3% during the third quarter. Victory Capital Management Inc. now owns 2,000,917 shares of the semiconductor company’s stock valued at $33,715,000 after purchasing an additional 25,550 shares during the last quarter. Renaissance Technologies LLC lifted its stake in FormFactor by 5.0% during the second quarter. Renaissance Technologies LLC now owns 1,671,322 shares of the semiconductor company’s stock valued at $20,724,000 after purchasing an additional 78,868 shares during the last quarter. State Street Corp lifted its stake in FormFactor by 5.3% during the second quarter. State Street Corp now owns 1,327,001 shares of the semiconductor company’s stock valued at $16,454,000 after purchasing an additional 66,847 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its stake in FormFactor by 2.3% during the third quarter. Hood River Capital Management LLC now owns 1,256,352 shares of the semiconductor company’s stock valued at $21,170,000 after purchasing an additional 28,299 shares during the last quarter. 84.55% of the stock is owned by institutional investors and hedge funds.
FORM has been the subject of several research analyst reports. Needham & Company LLC restated a “strong-buy” rating and issued a $20.00 price target (down previously from $22.00) on shares of FormFactor in a research report on Thursday, January 18th. Zacks Investment Research downgraded shares of FormFactor from a “hold” rating to a “sell” rating in a research report on Monday. B. Riley restated a “buy” rating and issued a $22.00 price target (up previously from $20.00) on shares of FormFactor in a research report on Thursday, November 2nd. Finally, Citigroup upped their price target on shares of FormFactor from $16.00 to $17.40 and gave the company a “neutral” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. FormFactor currently has a consensus rating of “Buy” and a consensus target price of $18.34.
FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The firm had revenue of $143.74 million for the quarter, compared to analyst estimates of $140.83 million. FormFactor had a net margin of 3.68% and a return on equity of 16.80%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. research analysts expect that FormFactor, Inc. will post 1.04 EPS for the current fiscal year.
In other FormFactor news, CFO Michael M. Ludwig sold 16,845 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $17.50, for a total value of $294,787.50. Following the transaction, the chief financial officer now owns 241,132 shares in the company, valued at approximately $4,219,810. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Delateur sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $17.69, for a total transaction of $265,350.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $442,250. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
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FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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