FormFactor (NASDAQ:FORM) Trading Up 6.8% – Here’s Why

FormFactor, Inc. (NASDAQ:FORM)’s stock price was up 6.8% during trading on Wednesday . The company traded as high as $47.28 and last traded at $46.87. Approximately 314,873 shares were traded during trading, a decline of 47% from the average daily volume of 589,852 shares. The stock had previously closed at $43.87.

Wall Street Analyst Weigh In

FORM has been the topic of several research analyst reports. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Needham & Company LLC decreased their price target on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, TD Cowen dropped their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Five investment 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 has a consensus rating of “Hold” and a consensus price target of $55.38.

FormFactor Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 26.94 and a beta of 1.12. The business’s 50 day simple moving average is $42.23 and its 200-day simple moving average is $48.11.

Insider Transactions at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $40.59, for a total transaction of $162,360.00. Following the transaction, the chief executive officer now owns 526,531 shares of the company’s stock, valued at approximately $21,371,893.29. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FORM. Louisiana State Employees Retirement System boosted its stake in FormFactor by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,800 shares of the semiconductor company’s stock valued at $2,349,000 after purchasing an additional 200 shares in the last quarter. LRI Investments LLC grew its stake in shares of FormFactor by 161.2% in the 2nd quarter. LRI Investments LLC now owns 3,996 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 2,466 shares during the last quarter. Calamos Advisors LLC raised its holdings in shares of FormFactor by 13.9% in the 2nd quarter. Calamos Advisors LLC now owns 49,142 shares of the semiconductor company’s stock worth $2,975,000 after purchasing an additional 5,992 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in FormFactor by 91.5% during the second quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock valued at $77,636,000 after purchasing an additional 612,838 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in FormFactor during the second quarter worth approximately $38,000. 98.76% of the stock is currently owned by institutional investors.

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.