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

FormFactor, Inc. (NASDAQ:FORM) shares gapped up before the market opened 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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Cowen reduced their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. StockNews.com downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. DA Davidson raised 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. Finally, 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. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, FormFactor currently has a consensus rating of “Hold” and a consensus target price of $55.38.

FormFactor Stock Performance

The stock has a market capitalization of $3.02 billion, a P/E ratio of 22.33 and a beta of 1.12. 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 firm has a 50-day moving average of $43.13 and a 200 day moving average of $49.68.

Insiders Place Their Bets

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total value of $181,120.00. Following the transaction, the chief executive officer now owns 530,276 shares of the company’s stock, valued at approximately $24,010,897.28. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of FormFactor by 1.4% in the third quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock valued at $134,019,000 after purchasing an additional 39,784 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of FormFactor by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock valued at $95,105,000 after buying an additional 73,982 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of FormFactor by 91.5% during the second quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock valued at $77,636,000 after acquiring an additional 612,838 shares during the period. Massachusetts Financial Services Co. MA lifted its position in FormFactor by 8.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company’s stock valued at $48,928,000 after purchasing an additional 79,191 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of FormFactor by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 886,103 shares of the semiconductor company’s stock valued at $40,761,000 after acquiring an additional 32,889 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

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.