FormFactor (NASDAQ:FORM) Sets New 1-Year High After Analyst Upgrade

FormFactor, Inc. (NASDAQ:FORM)’s share price reached a new 52-week high on Thursday after Citigroup raised their price target on the stock from $37.00 to $46.00. Citigroup currently has a neutral rating on the stock. FormFactor traded as high as $50.92 and last traded at $50.31, with a volume of 269844 shares trading hands. The stock had previously closed at $43.99.

Other analysts have also issued reports about the company. TD Cowen boosted their target price on FormFactor from $37.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday. Needham & Company LLC boosted their price objective on FormFactor from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus increased their target price on shares of FormFactor from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday. B. Riley lifted their target price on shares of FormFactor from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, FormFactor has a consensus rating of “Hold” and an average target price of $47.30.

Insider Activity at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $43.38, for a total value of $173,520.00. Following the sale, the chief executive officer now directly owns 499,781 shares in the company, valued at approximately $21,680,499.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the sale, the chief financial officer now owns 67,141 shares in the company, valued at approximately $2,827,978.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $43.38, for a total transaction of $173,520.00. Following the completion of the transaction, the chief executive officer now owns 499,781 shares of the company’s stock, valued at $21,680,499.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,000 shares of company stock valued at $1,398,580. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FORM. Quadrant Capital Group LLC boosted its stake in shares of FormFactor by 19.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 260 shares in the last quarter. Arizona State Retirement System boosted its position in FormFactor by 1.4% during the third quarter. Arizona State Retirement System now owns 21,965 shares of the semiconductor company’s stock valued at $767,000 after buying an additional 298 shares during the period. GAMMA Investing LLC grew its stake in shares of FormFactor by 30.4% during the first quarter. GAMMA Investing LLC now owns 1,860 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 434 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of FormFactor by 3.1% in the third quarter. HighTower Advisors LLC now owns 19,643 shares of the semiconductor company’s stock worth $684,000 after buying an additional 582 shares during the period. Finally, Riverview Trust Co bought a new stake in shares of FormFactor in the 1st quarter valued at about $28,000. 98.76% of the stock is currently owned by institutional investors.

FormFactor Price Performance

The firm has a fifty day moving average of $44.07 and a two-hundred day moving average of $40.44. The company has a current ratio of 4.38, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.18 billion, a PE ratio of 40.91 and a beta of 1.15.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. FormFactor had a return on equity of 2.33% and a net margin of 15.48%. The firm had revenue of $168.16 million during the quarter, compared to the consensus estimate of $165.49 million. Research analysts anticipate that FormFactor, Inc. will post 0.63 EPS for the current fiscal year.

About FormFactor

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.