Canada Pension Plan Investment Board Buys 53,600 Shares of FormFactor, Inc. (NASDAQ:FORM)

Canada Pension Plan Investment Board raised its stake in shares of FormFactor, Inc. (NASDAQ:FORM) by 206.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,600 shares of the semiconductor company’s stock after buying an additional 53,600 shares during the quarter. Canada Pension Plan Investment Board’s holdings in FormFactor were worth $3,502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in FormFactor by 127.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,114,779 shares of the semiconductor company’s stock valued at $137,050,000 after purchasing an additional 1,742,493 shares during the period. Vanguard Group Inc. grew its holdings 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 buying an additional 484,176 shares during the period. Sei Investments Co. grew its holdings in shares of FormFactor by 34.5% in the 4th quarter. Sei Investments Co. now owns 1,595,498 shares of the semiconductor company’s stock valued at $70,202,000 after buying an additional 409,304 shares during the period. Royce & Associates LP increased 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 buying an additional 406,768 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in FormFactor during the 4th quarter worth $14,222,000. 98.76% of the stock is owned by institutional investors.

FormFactor Price Performance

NASDAQ FORM opened at $25.54 on Wednesday. FormFactor, Inc. has a 12-month low of $22.58 and a 12-month high of $63.63. The firm’s 50 day moving average is $30.47 and its 200-day moving average is $38.22. The company has a market capitalization of $1.98 billion, a PE ratio of 28.70 and a beta of 1.15. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a return on equity of 5.93% and a net margin of 9.12%. Equities research analysts anticipate that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total transaction of $155,920.00. Following the sale, the chief executive officer now owns 518,531 shares in the company, valued at $20,212,338.38. This represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

FORM has been the subject of several recent analyst reports. B. Riley downgraded FormFactor from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $64.00 to $34.00 in a report on Thursday, February 6th. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research note on Thursday, February 6th. Evercore ISI reduced their price target on shares of FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus cut their price objective on shares of FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

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.