EARNEST Partners Cuts FORMFACTOR Stake to 5.15M Shares
Ticker: FORM · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1039399
| Field | Detail |
|---|---|
| Company | Formfactor Inc (FORM) |
| Form Type | SC 13G/A |
| Filed Date | Feb 12, 2024 |
| Risk Level | medium |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: institutional-ownership, stake-change, semiconductors
TL;DR
**EARNEST Partners just trimmed its FORMFACTOR (FORM) stake to 5.15M shares.**
AI Summary
EARNEST Partners, LLC, an investment adviser, filed an amended Schedule 13G/A on February 12, 2024, disclosing its ownership of 5,151,498 shares of FORMFACTOR INC common stock as of December 31, 2023. This represents a decrease in their sole voting power compared to previous filings, indicating they have reduced their stake in the semiconductor company. This matters to investors because a significant institutional investor reducing its position could signal a change in their outlook on FORMFACTOR INC's future performance or valuation.
Why It Matters
This filing shows a major institutional investor, EARNEST Partners, LLC, has reduced its holdings in FORMFACTOR INC, which could be interpreted as a lack of conviction or a strategic portfolio adjustment.
Risk Assessment
Risk Level: medium — A large institutional investor reducing its stake can sometimes precede a period of underperformance for the stock, indicating potential risks.
Analyst Insight
Investors should monitor FORMFACTOR INC's stock performance and consider the implications of EARNEST Partners, LLC reducing its stake, potentially researching other institutional ownership changes and company fundamentals before making investment decisions.
Key Numbers
- 5,151,498 — Shares Beneficially Owned (Represents the total shares of FORMFACTOR INC that EARNEST Partners, LLC has sole voting power over as of December 31, 2023.)
Key Players & Entities
- EARNEST Partners, LLC (company) — the reporting person and investment adviser
- FORMFACTOR INC (company) — the subject company, a semiconductor and related devices manufacturer
- 5,151,498 (dollar_amount) — shares beneficially owned by EARNEST Partners, LLC with sole voting power
- December 31, 2023 (date) — the date of the event requiring the filing
- February 12, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- FORMFACTOR INC's stock price may experience short-term volatility due to the disclosed reduction in institutional ownership. (FORMFACTOR INC) — medium confidence, target: Q1 2024
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is EARNEST Partners, LLC, an investment adviser based in Atlanta, GA, as stated in the 'FILED BY' section and Item 1 of the filing.
What is the subject company of this filing?
The subject company is FORMFACTOR INC, a semiconductor and related devices company located in Livermore, CA, as identified in the 'SUBJECT COMPANY' section and the 'Name of Issuer' field.
How many shares of FORMFACTOR INC does EARNEST Partners, LLC have sole voting power over?
As of December 31, 2023, EARNEST Partners, LLC has sole voting power over 5,151,498 shares of FORMFACTOR INC, according to Item 5 of the Schedule 13G.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.
What type of securities are covered by this filing?
The filing covers 'Common Stock' of FORMFACTOR INC, as indicated under the 'Title of Class of Securities' section.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 12, 2024 regarding FORMFACTOR INC (FORM).