Point72 Asset Management L.P. Sells 17,022 Shares of FormFactor, Inc. (NASDAQ:FORM)

Point72 Asset Management L.P. lessened its holdings in FormFactor, Inc. (NASDAQ:FORM) by 92.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,399 shares of the semiconductor company’s stock after selling 17,022 shares during the quarter. Point72 Asset Management L.P.’s holdings in FormFactor were worth $64,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Needham Investment Management LLC grew its position in FormFactor by 8.6% during the third quarter. Needham Investment Management LLC now owns 620,000 shares of the semiconductor company’s stock valued at $28,520,000 after buying an additional 49,000 shares during the period. Edgestream Partners L.P. purchased a new stake in FormFactor in the 3rd quarter valued at $1,442,000. Verition Fund Management LLC increased its position in FormFactor by 160.0% during the third quarter. Verition Fund Management LLC now owns 39,029 shares of the semiconductor company’s stock worth $1,795,000 after purchasing an additional 24,019 shares during the last quarter. Captrust Financial Advisors raised its position in shares of FormFactor by 72.6% during the 3rd quarter. Captrust Financial Advisors now owns 13,935 shares of the semiconductor company’s stock valued at $641,000 after buying an additional 5,863 shares during the period. Finally, Glenmede Trust Co. NA raised its position in FormFactor by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 415 shares during the period. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FORM shares. Needham & Company LLC reduced their price target on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. TD Cowen reduced their price objective on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Finally, StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, FormFactor has an average rating of “Hold” and an average target price of $55.38.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $40.59, for a total value of $162,360.00. Following the completion of the sale, the chief executive officer now directly owns 526,531 shares of the company’s stock, valued at approximately $21,371,893.29. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.96% of the stock is owned by corporate insiders.

FormFactor Stock Down 0.6 %

Shares of NASDAQ:FORM opened at $42.50 on Friday. The firm has a 50 day simple moving average of $42.32 and a 200-day simple moving average of $48.41. FormFactor, Inc. has a twelve month low of $37.21 and a twelve month 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. The company has a market capitalization of $3.29 billion, a PE ratio of 24.43 and a beta of 1.12.

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.