FormFactor (NASDAQ:FORM) Shares Gap Up – Here’s Why

FormFactor, Inc. (NASDAQ:FORM) shares gapped up prior to trading on Wednesday . The stock had previously closed at $39.82, but opened at $41.48. FormFactor shares last traded at $41.48, with a volume of 774 shares traded.

Analyst Upgrades and Downgrades

FORM has been the topic of a number of analyst reports. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. DA Davidson lifted their price target on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC reduced their price objective on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, TD Cowen decreased their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.38.

FormFactor Stock Down 1.3 %

The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.04 billion, a PE ratio of 22.59 and a beta of 1.12. The company’s 50 day moving average is $43.06 and its two-hundred day moving average is $49.60.

Insider Transactions at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total transaction of $185,240.00. Following the completion of the transaction, the chief executive officer now owns 534,276 shares in the company, valued at $24,742,321.56. This trade represents a 0.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FORM. Advisors Asset Management Inc. raised its stake in FormFactor by 99.4% during the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 309 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of FormFactor during the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC purchased a new stake in shares of FormFactor during the 2nd quarter valued at about $43,000. Quarry LP lifted its holdings in shares of FormFactor by 131.7% in the 3rd quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 523 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in FormFactor in the first quarter worth about $70,000. 98.76% of the stock is currently owned by institutional investors.

FormFactor Company Profile

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.