FormFactor (NASDAQ:FORM) Stock Price Up 9.7% Following Analyst Upgrade

FormFactor, Inc. (NASDAQ:FORM)’s share price was up 9.7% on Tuesday after Freedom Capital upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $96.28 and last traded at $95.8010. Approximately 155,800 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,650,293 shares. The stock had previously closed at $87.30.

FORM has been the topic of a number of other reports. Evercore set a $150.00 price objective on FormFactor in a research note on Thursday, July 30th. B. Riley Financial reiterated a “buy” rating on shares of FormFactor in a report on Monday, October 19th. Weiss Ratings raised FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Stifel Nicolaus set a $115.00 target price on FormFactor in a report on Tuesday, October 13th. Finally, Wall Street Zen upgraded FormFactor from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.73.

Insider Buying and Selling at FormFactor

In related news, Director Kelley Steven-Waiss sold 2,100 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $96.10, for a total transaction of $201,810.00. Following the completion of the sale, the director directly owned 24,426 shares in the company, valued at $2,347,338.60. This represents a 7.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mike Slessor sold 17,510 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $104.73, for a total transaction of $1,833,822.30. Following the sale, the chief executive officer directly owned 466,694 shares of the company’s stock, valued at $48,876,862.62. The trade was a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 46,710 shares of company stock worth $5,520,564. 0.79% of the stock is owned by insiders.

Institutional Trading of FormFactor

A number of institutional investors have recently modified their holdings of FORM. BlackRock Inc. purchased a new position in shares of FormFactor during the second quarter valued at approximately $1,676,772,000. Andar Capital Management HK Ltd bought a new stake in shares of FormFactor in the 2nd quarter worth approximately $27,000,000. Bank of America Corp DE bought a new stake in shares of FormFactor in the 2nd quarter worth approximately $285,257,000. Primecap Management Co. CA purchased a new stake in shares of FormFactor in the 2nd quarter worth approximately $270,300,000. Finally, Reinhart Partners LLC. grew its stake in shares of FormFactor by 3.1% in the 3rd quarter. Reinhart Partners LLC. now owns 659,667 shares of the semiconductor company’s stock worth $98,495,000 after buying an additional 19,745 shares during the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Price Performance

The company has a current ratio of 3.68, a quick ratio of 3.02 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.59 billion, a PE ratio of 32.77 and a beta of 1.27. The firm has a 50 day moving average of $115.03 and a two-hundred day moving average of $113.68.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. FormFactor had a return on equity of 18.40% and a net margin of 17.72%. The business had revenue of $280.55 million during the quarter, compared to analysts’ expectations of $270.52 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm’s quarterly revenue was up 38.4% compared to the same quarter last year. Research analysts predict that FormFactor, Inc. will post 2.96 earnings per share for the current fiscal year.

FormFactor Company Profile

FormFactor, Inc is a semiconductor test and measurement company that designs and manufactures equipment and components used to evaluate integrated circuits during the wafer fabrication and production process. Its products help semiconductor manufacturers and suppliers measure electrical performance, identify defects and improve the development and manufacturing of advanced chips.

The company’s portfolio includes probe cards used for wafer-level testing, as well as probe stations, analytical systems and related accessories for semiconductor engineering and production applications.