FormFactor (NASDAQ:FORM) Sets New 52-Week High After Analyst Upgrade

FormFactor, Inc. (NASDAQ:FORM)’s stock price hit a new 52-week high during trading on Thursday after Citigroup raised their price target on the stock from $37.00 to $46.00. Citigroup currently has a neutral rating on the stock. FormFactor traded as high as $50.92 and last traded at $50.31, with a volume of 269844 shares changing hands. The stock had previously closed at $43.99.

Several other research analysts also recently commented on FORM. B. Riley boosted their target price on FormFactor from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a report on Friday, April 19th. TheStreet raised shares of FormFactor from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Evercore ISI started 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. Finally, Stifel Nicolaus raised their price target on shares of FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.30.

Insider Activity at FormFactor

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.12, for a total transaction of $421,200.00. Following the transaction, the chief financial officer now owns 67,141 shares in the company, valued at $2,827,978.92. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 495,781 shares of the company’s stock, valued at approximately $22,776,179.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the completion of the transaction, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,000 shares of company stock worth $1,398,580. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On FormFactor

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in FormFactor by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock worth $341,007,000 after purchasing an additional 224,599 shares during the period. Earnest Partners LLC boosted its position in shares of FormFactor by 1.2% during the third quarter. Earnest Partners LLC now owns 6,450,654 shares of the semiconductor company’s stock worth $225,386,000 after buying an additional 78,466 shares during the period. Wellington Management Group LLP grew its holdings in shares of FormFactor by 81.1% during the fourth quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after buying an additional 862,885 shares in the last quarter. Sei Investments Co. raised its position in FormFactor by 10.2% in the 4th quarter. Sei Investments Co. now owns 1,417,633 shares of the semiconductor company’s stock valued at $59,129,000 after buying an additional 131,282 shares during the last quarter. Finally, Reinhart Partners LLC. lifted its stake in 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 acquiring an additional 20,060 shares in the last quarter. Institutional investors own 98.76% of the company’s stock.

FormFactor Price Performance

The stock has a market cap of $4.18 billion, a P/E ratio of 40.91 and a beta of 1.15. The company has a 50 day simple moving average of $44.07 and a 200 day simple moving average of $40.44. The company has a current ratio of 4.38, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. FormFactor had a net margin of 15.48% and a return on equity of 2.33%. The business had revenue of $168.16 million during the quarter, compared to analysts’ expectations of $165.49 million. Sell-side analysts forecast that FormFactor, Inc. will post 0.63 earnings per share for the current fiscal 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.