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New York City-based Shannon River Fund Management added 968,161 shares of FormFactor in the third quarter.
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The move increased its exposure to an estimated $35.26 million.
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As of September 30, the fund reported holding 968,161 form shares valued at $35.26 million.
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New York City-based Shannon River Fund Management launched a new position FormFactor (NASDAQ: FORM )adding 968,161 shares worth $35.26 million as of a Nov. 13 SEC filing.
Shannon River Fund Management LLC disclosed a new stake in, according to a November 13th SEC filing. FormFactorAcquiring 968,161 shares. The position, valued at $35.26 million as of Sept. 30, is 5.68% of the fund’s $621.17 million in reportable U.S. equity holdings. The fund reported a total of 20 positions after the filing.
This new position now comprises 5.68% of the fund’s reportable assets under management.
Top five holdings after filing:
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NASDAQ: PEGA: $79.59 million (12.8% aum)
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NASDAQ:TSEM: $69.56 million (11.2% of AUM)
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NASDAQ:IDCC: $61.70 million (9.9% of AUM)
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NASDAQ:WIX: $58.63 million (9.4% of AUM)
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NASDAQ: FLEX: $49.24 million (7.9% of AUM)
As of Wednesday, the stock was trading at $58.17, up 22% over the past year and solidly outperforming the S&P 500, which is up nearly 15% over the same period.
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Metric
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price
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Revenue (TTM)
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$759.31 million
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net income (TTM)
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$40.84 million
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Price (as of Wednesday)
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$58.17
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One-year price changes
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22%
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FormFactor, Inc. offers probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems, primarily serving the semiconductor industry.
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The company generates revenue by designing, manufacturing and selling advanced test and measurement solutions used throughout the semiconductor manufacturing and research lifecycle.
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Primary customers include semiconductor integrated device manufacturers, foundries, fabless semiconductor companies, research institutions, and universities worldwide.
FormFactor, Inc. is a leading supplier of test and measurement solutions for the semiconductor sector, with a diverse product portfolio addressing both manufacturing and R&D needs. Its strategy focuses on technological innovation and global reach, enabling it to serve a broad spectrum of customers, from chip makers to scientific institutions. The company’s competitive edge lies in its specialized expertise and ability to support complex semiconductor testing requirements across multiple geographies.
FormFactor doesn’t sit in the headline-grabbing AI chip race, but it supplies the picks and shovels that tell chip makers whether those increasingly complex designs actually work. That situation became apparent in the last quarter. Revenue reached $202.7 million, while gross margin was 39.8% on a GAAP and 41.0% on a non-GAAP basis, expanding approximately 250 basis points sequentially. Free cash flow rebounded to $19.7 million after a weak second quarter, and management guided for the next step in revenue, earnings, and margins in Q4.
Specifically, DRAM probe cards posted record double-digit sequential growth driven by high-bandwidth memory demand, while the systems segment gained momentum toward early volume production in co-packaged optics. That mix helps explain why this position landed as a mid-single-digit allocation rather than a token trade. In context, this fund already holds other IP- and semiconductor-related names, but ultimately, FormFactor adds exposure to profitability improvement rather than pure cycle recovery.
Assets Under Management (AUM): The total market value of investments managed by a fund or firm on behalf of clients.
13F Reportable Assets: U.S. equity securities that institutional investment managers are required to disclose quarterly to the SEC via Form 13F.
Status: The amount of a particular security or investment held by an individual or organization.
New post: Investments in securities or assets that have not previously been held in a portfolio.
Last Twelve Months (TTM): 12-month period ending with the most recent quarterly report.
Forward P/E: The price-to-earnings ratio uses projected earnings for the next year, estimating how much investors will pay per dollar of future earnings.
EV/EBITDA: enterprise value divided by earnings before interest, taxes, depreciation, and amortization; Used to compare company value and profitability.
Decreasing funds: The process of reducing the size or number of holdings in an investment fund, often to manage risk or liquidity.
bet: An investor’s ownership interest or share in a company or property.
Probe Cards: Equipment used to test semiconductor wafers by making temporary electrical contact with circuits during manufacture.
Metrology System: Equipment used to measure and analyze the physical properties of materials or equipment, often for quality control in manufacturing.
Fabless Semiconductor Companies: Firms that design chips but outsource production to specialized manufacturing plants (foundries).
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has articles and recommends Wix.com. The Motley Fool recommends Flex. Motley Fool has a disclosure policy.
FormFactor Stock Up 22% and Drawing $35 Million in New Stake as Firm Beats Q3 Estimates was originally published by The Motley Fool.
