FormFactor (NASDAQ:FORM) Stock Rating Upgraded by Citigroup

FormFactor (NASDAQ:FORM) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat reports. The firm currently has a $51.00 price objective on the semiconductor company’s stock, up from their previous price objective of $44.00. Citigroup’s target price points to a potential upside of 7.96% from the stock’s current price.

Several other brokerages also recently issued reports on FORM. Needham & Company LLC lowered their price objective on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. TD Cowen lowered their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, FormFactor has an average rating of “Moderate Buy” and a consensus price target of $56.00.

FormFactor Price Performance

Shares of NASDAQ FORM opened at $47.24 on Monday. 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 stock has a market cap of $3.66 billion, a P/E ratio of 27.15 and a beta of 1.08. The stock has a 50 day moving average of $42.30 and a two-hundred day moving average of $46.94. FormFactor has a twelve month low of $37.25 and a twelve month high of $63.63.

Insiders Place Their Bets

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total value of $177,760.00. Following the sale, the chief executive officer now directly owns 522,531 shares in the company, valued at $23,221,277.64. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FormFactor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its stake in shares of FormFactor by 5.1% in the third quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company’s stock valued at $18,940,000 after purchasing an additional 18,810 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of FormFactor by 7.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 47,821 shares of the semiconductor company’s stock valued at $2,200,000 after acquiring an additional 3,426 shares during the period. Geode Capital Management LLC boosted its stake in shares of FormFactor by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock worth $95,105,000 after acquiring an additional 73,982 shares in the last quarter. Barclays PLC boosted its stake in shares of FormFactor by 351.9% during the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock worth $6,692,000 after acquiring an additional 113,296 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of FormFactor in the 3rd quarter worth approximately $550,000. Institutional investors and hedge funds 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.