FormFactor (NASDAQ:FORM) Hits New 52-Week High Following Analyst Upgrade

FormFactor, Inc. (NASDAQ:FORM) hit a new 52-week high during trading on Thursday after B. Riley raised their price target on the stock from $52.00 to $54.00. B. Riley currently has a buy rating on the stock. FormFactor traded as high as $50.92 and last traded at $50.31, with a volume of 269844 shares. The stock had previously closed at $43.99.

Other analysts have also recently issued research reports about the stock. TD Cowen boosted their target price on shares of FormFactor from $37.00 to $48.00 and gave the company a “hold” rating in a report on Thursday. Needham & Company LLC boosted 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. TheStreet upgraded shares of FormFactor from a “c” rating to a “b-” rating in a report on Thursday, February 8th. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, 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 target price on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, FormFactor has a consensus rating of “Hold” and a consensus target price of $47.44.

Insider Buying and Selling at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $45.94, for a total transaction of $183,760.00. Following the transaction, the chief executive officer now owns 495,781 shares in the company, valued at approximately $22,776,179.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the completion of the sale, the chief financial officer now owns 67,141 shares of the company’s stock, valued at approximately $2,827,978.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $45.94, for a total transaction of $183,760.00. Following the sale, the chief executive officer now directly owns 495,781 shares of the company’s stock, valued at approximately $22,776,179.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock worth $1,398,580. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its holdings in FormFactor by 19.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 260 shares in the last quarter. Arizona State Retirement System grew its holdings in FormFactor by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 21,965 shares of the semiconductor company’s stock valued at $767,000 after buying an additional 298 shares in the last quarter. GAMMA Investing LLC grew its holdings in FormFactor by 30.4% during the 1st quarter. GAMMA Investing LLC now owns 1,860 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 434 shares in the last quarter. HighTower Advisors LLC grew its holdings in FormFactor by 3.1% during the 3rd quarter. HighTower Advisors LLC now owns 19,643 shares of the semiconductor company’s stock valued at $684,000 after buying an additional 582 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in FormFactor during the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

FormFactor Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.38. The business’s fifty day simple moving average is $43.87 and its 200-day simple moving average is $40.37. The firm has a market capitalization of $4.01 billion, a PE ratio of 47.52 and a beta of 1.15.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. FormFactor had a net margin of 12.42% and a return on equity of 2.43%. The business had revenue of $168.16 million during the quarter, compared to analyst estimates of $165.49 million. As a group, equities research analysts expect that FormFactor, Inc. will post 0.63 EPS for the current year.

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.