Institutional Move: Formfactor INC (FORM) Stock Rose While Needham Investment Management LLC Lowered Position by $4.09 Million

Institutional Move: Formfactor INC (FORM) Stock Rose While Needham Investment Management LLC Lowered Position by $4.09 Million

Needham Investment Management Llc decreased its stake in Formfactor Inc (FORM) by 22.59% based on its latest 2016Q3 regulatory filing with the SEC. Needham Investment Management Llc sold 408,975 shares as the company’s stock rose 21.09% with the market. The institutional investor held 1.40 million shares of the technology company at the end of 2016Q3, valued at $15.21 million, down from 1.81M at the end of the previous reported quarter. Needham Investment Management Llc who had been investing in Formfactor Inc for a number of months, seems to be less bullish one the $808.76 million market cap company. The stock is up 0.22% or $0.03 hitting $11.18, despite the negative news. About 126,133 shares traded hands. FormFactor, Inc. (NASDAQ:FORM) has risen 47.88% since June 7, 2016 and is uptrending. It has outperformed by 40.46% the S&P500.

Needham Investment Management Llc is a New York-based institutional investor with more than $550.90 million AUM in March, 2014. Taken from Needham Investment Management latest Adv, the fund reported to have 9 full and part-time employees. Among which 3 performing investment advisory and research functions. The institutional investor had between 1-10 clients.

Insitutional Activity: The institutional sentiment decreased to 1.16 in Q3 2016. Its down 0.74, from 1.9 in 2016Q2. The ratio worsened, as 17 funds sold all FORM shares owned while 44 reduced positions. 33 funds bought stakes while 38 increased positions. They now own 60.87 million shares or 1.52% less from 61.81 million shares in 2016Q2. Tygh Cap Mngmt accumulated 593,360 shares or 1.74% of the stock. Parallax Volatility Advisers Limited Partnership owns 657 shares or 0% of their US portfolio. California State Teachers Retirement System owns 145,558 shares or 0% of their US portfolio. Hightower Advsrs Ltd Liability Com owns 13,000 shares or 0% of their US portfolio. The California-based Schwab Charles Invest has invested 0% in FormFactor, Inc. (NASDAQ:FORM). Grandeur Peak Advisors Ltd Co last reported 32,899 shares in the company. Rhumbline Advisers accumulated 79,223 shares or 0% of the stock. Invesco Limited accumulated 43,068 shares or 0% of the stock. Blackrock Advisors Ltd has 36,697 shares for 0% of their US portfolio. Jnba Financial accumulated 0% or 150 shares. Deutsche Retail Bank Ag has 0% invested in the company for 87,980 shares. Barclays Public Ltd owns 24,534 shares or 0% of their US portfolio. Da Davidson And Company has 0.12% invested in the company for 442,127 shares. Putnam Investments Ltd Co accumulated 764,689 shares or 0.02% of the stock. California Public Employees Retirement Systems holds 0% of its portfolio in FormFactor, Inc. (NASDAQ:FORM) for 73,992 shares.

Insider Transactions: Since August 5, 2016, the stock had 2 buys, and 2 sales for $312,335 net activity. The insider St Dennis Thomas sold $242,896. 10,000 shares were sold by DeLateur Richard, worth $107,375. 2,000 shares were bought by LINK RAYMOND A, worth $20,036 on Wednesday, August 10.

Analysts await FormFactor, Inc. (NASDAQ:FORM) to report earnings on February, 2. They expect $0.13 EPS, up 160.00% or $0.08 from last year’s $0.05 per share. FORM’s profit will be $9.40 million for 21.50 P/E if the $0.13 EPS becomes a reality. After $0.19 actual EPS reported by FormFactor, Inc. for the previous quarter, Wall Street now forecasts -31.58% negative EPS growth.

More notable recent FormFactor, Inc. (NASDAQ:FORM) news were published by: Fool.com which released: “FormFactor Inc Has a Lot to Prove on Aug. 2” on July 24, 2016, also Fool.com with their article: “FormFactor Inc. Braces for an Ugly Quarter” published on April 20, 2016, Fool.com published: “3 Things to Watch When FormFactor Inc. Reports” on February 08, 2016. More interesting news about FormFactor, Inc. (NASDAQ:FORM) were released by: Fool.com and their article: “Here’s Why FormFactor, Inc. Is Tumbling Today” published on October 28, 2016 as well as Fool.com‘s news article titled: “FormFactor Inc. Makes a Bold Bet With a Major Acquisition” with publication date: February 13, 2016.

According to Zacks Investment Research, “Formfactor Inc designs, develops, manufactures, sells and supports precision, high performance advanced semiconductor wafer probe cards. Their products are based on proprietary technology, including its MicroSpring interconnect technology, which enables FormFactor to produce wafer probe cards for test applications that require reliability, speed, precision and signal integrity. FormFactor is headquartered in Livermore, California.”

FormFactor, Inc. (NASDAQ:FORM) Ratings Coverage

Out of 4 analysts covering FormFactor (NASDAQ:FORM), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. FormFactor has been the topic of 9 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Needham on Monday, June 27. The firm has “Buy” rating given on Thursday, September 22 by Craig Hallum. Zacks downgraded the stock to “Hold” rating in Monday, August 10 report. Stifel Nicolaus upgraded FormFactor, Inc. (NASDAQ:FORM) on Tuesday, August 2 to “Buy” rating. Citigroup maintained the stock with “Neutral” rating in Tuesday, March 15 report. The firm has “Neutral” rating by Stifel Nicolaus given on Wednesday, March 30. Needham maintained the stock with “Buy” rating in Friday, October 9 report. The rating was downgraded by Zacks to “Hold” on Monday, August 17.

FORM Company Profile

FormFactor, Inc., incorporated on April 15, 1993, designs, develops, makes, sells and supports semiconductor probe card products. The Firm is a supplier of probe cards to the manufacturers of dynamic random-access memory (DRAM), flash memory devices, microprocessor, chipset and other system on chip (SoC) devices. Semiconductor manufacturers use its probe cards to perform wafer test (also known as wafer sort), which is the testing of the semiconductor die, or chips. The Company’s products utilize a range of technologies, including micro-electromechanical systems (MEMS) technologies, automation systems, various product architectures and design tools. The Company’s MEMS technologies enable manufacturing of multi-material composite spring-like electrically-conductive contact elements. These contact elements, such as its MicroSpring contacts, optimize the relative amounts of force on, and across, a chip’s bond pad, solder bump, or copper pillar during the test process, and maintain their shape and position over a range of compression. The Company’s product and technology names include Apollo, ATRE, DC-Boost, Matrix, MicroProbe, the MicroProbe logo, MicroSpring, Mx-FinePitch, OneTouch, QiLin, RapidSoak, SmartMatrix, SMART Matrix 100, TouchMatrix, Takumi, TRE, TrueScale and TrueScale Lite, Vector, Vx-MP and Vx-RF. The Company’s technologies enable probe cards to be populated with over 100,000 contact elements, with contact element spacing of approximately 40 microns, distributed over extents of 300 millimeters (mm).

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