FormFactor (NASDAQ:FORM) Shares Up 4%

FormFactor, Inc. (NASDAQ:FORM)’s stock price shot up 4% on Monday . The stock traded as high as $53.57 and last traded at $53.27. 18,601 shares changed hands during trading, a decline of 96% from the average session volume of 531,017 shares. The stock had previously closed at $51.24.

Analyst Ratings Changes

Several research firms have weighed in on FORM. Needham & Company LLC raised their target price on shares of FormFactor from $46.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. B. Riley raised their target price on shares of FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, June 20th. StockNews.com downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Evercore ISI started coverage on shares of FormFactor in a report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Five equities research 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 presently has an average rating of “Hold” and a consensus target price of $51.44.

FormFactor Trading Up 1.7 %

The business’s fifty day moving average is $58.12 and its 200-day moving average is $49.18. The stock has a market capitalization of $4.02 billion, a PE ratio of 38.82 and a beta of 1.11. The company has a quick ratio of 3.67, a current ratio of 4.51 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). FormFactor had a net margin of 15.48% and a return on equity of 2.29%. The company had revenue of $168.73 million during the quarter, compared to analysts’ expectations of $165.45 million. As a group, analysts anticipate that FormFactor, Inc. will post 0.72 EPS for the current fiscal year.

Insider Activity at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.00, for a total value of $236,000.00. Following the completion of the sale, the chief executive officer now directly owns 487,581 shares in the company, valued at $28,767,279. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.00, for a total transaction of $236,000.00. Following the transaction, the chief executive officer now directly owns 487,581 shares of the company’s stock, valued at $28,767,279. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Rebeca Obregon-Jimenez sold 4,833 shares of FormFactor stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $57.59, for a total transaction of $278,332.47. Following the transaction, the director now directly owns 10,598 shares in the company, valued at $610,338.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,536 shares of company stock worth $2,075,394. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FORM. Blue Trust Inc. lifted its position in FormFactor by 18.5% during the fourth quarter. Blue Trust Inc. now owns 5,284 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 824 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of FormFactor by 6.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,640 shares of the semiconductor company’s stock worth $1,487,000 after purchasing an additional 2,044 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in shares of FormFactor during the fourth quarter worth $5,967,000. Louisiana State Employees Retirement System acquired a new position in shares of FormFactor during the fourth quarter worth $1,623,000. Finally, Mackenzie Financial Corp acquired a new position in shares of FormFactor during the fourth quarter worth $202,000. 98.76% of the stock is owned by institutional investors and hedge funds.

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.