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

Shares of FormFactor, Inc. (NASDAQ:FORM) gapped up prior to trading on Monday . The stock had previously closed at $42.88, but opened at $44.47. FormFactor shares last traded at $44.91, with a volume of 284,594 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Needham & Company LLC reduced their price objective on FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, TD Cowen dropped their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.38.

FormFactor Trading Up 6.9 %

The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.55 billion, a PE ratio of 26.33 and a beta of 1.12. The company has a fifty day simple moving average of $41.99 and a two-hundred day simple moving average of $47.88.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $24,010,897.28. This represents a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of FormFactor

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in FormFactor by 91.5% in 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 last quarter. New York State Common Retirement Fund grew its position in shares of FormFactor by 876.0% during the third quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock worth $14,876,000 after acquiring an additional 290,254 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in FormFactor during the 2nd quarter worth $15,893,000. Renaissance Technologies LLC purchased a new position in FormFactor during the 2nd quarter worth $13,938,000. Finally, TimesSquare Capital Management LLC increased its stake in FormFactor by 29.6% in the third quarter. TimesSquare Capital Management LLC now owns 586,700 shares of the semiconductor company’s stock valued at $26,988,000 after purchasing an additional 134,170 shares during the period. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.