FormFactor (NASDAQ:FORM) Sets New 1-Year High After Analyst Upgrade

FormFactor, Inc. (NASDAQ:FORM)’s share price reached a new 52-week high on Thursday after Needham & Company LLC raised their price target on the stock from $46.00 to $53.00. Needham & Company LLC 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.

A number of other equities research analysts also recently weighed in on FORM. Stifel Nicolaus raised their price objective on FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday. TheStreet raised shares of FormFactor from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. TD Cowen lifted their price objective on shares of FormFactor from $37.00 to $48.00 and gave the stock a “hold” rating in a research report on Thursday. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Evercore ISI initiated coverage on shares of FormFactor in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 target price for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, FormFactor has a consensus rating of “Hold” and a consensus target price of $45.33.

Insider Buying and Selling

In other news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on 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 $22,776,179.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $44.51, for a total value of $445,100.00. Following the sale, the chief financial officer now owns 27,591 shares in the company, valued at $1,228,075.41. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $45.94, for a total transaction of $183,760.00. Following the transaction, the chief executive officer now directly owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock worth $1,223,580 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in FormFactor during the third quarter valued at $427,000. Reinhart Partners LLC. lifted its holdings in shares of FormFactor by 2.5% in the 3rd quarter. Reinhart Partners LLC. now owns 834,698 shares of the semiconductor company’s stock valued at $29,164,000 after buying an additional 20,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of FormFactor by 15.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,098 shares of the semiconductor company’s stock worth $528,000 after buying an additional 1,989 shares during the last quarter. Emerald Advisers LLC grew its holdings in FormFactor by 58.3% during the third quarter. Emerald Advisers LLC now owns 481,911 shares of the semiconductor company’s stock worth $16,838,000 after acquiring an additional 177,448 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its position in FormFactor by 98.2% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 395,440 shares of the semiconductor company’s stock valued at $13,817,000 after acquiring an additional 195,898 shares in the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

FormFactor Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.38 and a quick ratio of 3.52. The stock has a fifty day simple moving average of $43.87 and a 200-day simple moving average of $40.37. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 47.86 and a beta of 1.15.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. FormFactor had a net margin of 12.42% and a return on equity of 2.43%. The firm had revenue of $168.16 million during the quarter, compared to analysts’ expectations of $165.49 million. On average, equities research analysts anticipate that FormFactor, Inc. will post 0.63 EPS for the current year.

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.