FormFactor Inc. (FORM) Trading Up 3.2%
FormFactor Inc. (NASDAQ:FORM) shares were up 3.2% during mid-day trading on Wednesday . The company traded as high as $9.65 and last traded at $9.61, with a volume of 201,627 shares. The stock had previously closed at $9.31.
A number of research analysts recently issued reports on FORM shares. Stifel Nicolaus raised FormFactor from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target (up previously from $11.00) on shares of FormFactor in a research note on Wednesday, August 3rd. Citigroup Inc. lifted their price target on FormFactor from $8.25 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Zacks Investment Research raised FormFactor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 31st. Finally, TheStreet raised FormFactor from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. FormFactor has an average rating of “Buy” and an average price target of $11.80.
The company has a 50 day moving average price of $10.24 and a 200 day moving average price of $8.54. The firm has a market capitalization of $680.25 million, a PE ratio of 28.61 and a beta of 1.14.
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FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $83.10 million for the quarter, compared to analyst estimates of $78.23 million. FormFactor had a return on equity of 0.11% and a net margin of 7.27%. The business’s revenue was up 55.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. Equities research analysts predict that FormFactor Inc. will post $0.47 earnings per share for the current fiscal year.
In other FormFactor news, Director Dennis Thomas St sold 23,120 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $10.51, for a total value of $242,991.20. Following the transaction, the director now owns 164,933 shares of the company’s stock, valued at $1,733,445.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Delateur sold 10,000 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $10.74, for a total value of $107,400.00. Following the completion of the transaction, the director now directly owns 22,000 shares in the company, valued at approximately $236,280. The disclosure for this sale can be found here. 2.84% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its position in FormFactor by 11.5% in the second quarter. Legal & General Group Plc now owns 11,805 shares of the company’s stock worth $105,000 after buying an additional 1,222 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of FormFactor during the first quarter valued at about $106,000. BlackRock Inc. raised its position in shares of FormFactor by 220.5% in the second quarter. BlackRock Inc. now owns 12,295 shares of the company’s stock valued at $110,000 after buying an additional 8,459 shares during the period. CNH Partners LLC purchased a new position in shares of FormFactor during the second quarter valued at about $136,000. Finally, Stevens Capital Management LP purchased a new position in shares of FormFactor during the second quarter valued at about $165,000. 89.46% of the stock is currently owned by institutional investors.
FormFactor Company Profile
FormFactor, Inc designs, develops, manufactures, sells and supports semiconductor probe card products. The Company is a supplier of probe cards to the manufacturers of dynamic random-access memory (DRAM), flash memory devices, microprocessor, chipset and other system on chip (SoC) devices. Semiconductor manufacturers use its probe cards to perform wafer test, which is the testing of the semiconductor die, or chips.
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