FormFactor (NASDAQ:FORM) Shares Gap Up – Here’s Why

Shares of FormFactor, Inc. (NASDAQ:FORM) gapped up prior to trading on Monday . The stock had previously closed at $42.88, but opened at $44.47. FormFactor shares last traded at $44.91, with a volume of 284,594 shares trading hands.

Wall Street Analysts Forecast Growth

FORM has been the subject of several recent analyst reports. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Needham & Company LLC reduced their target price on 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 lowered their price target 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.38.

FormFactor Stock Performance

The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 26.33 and a beta of 1.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94. The stock’s 50-day moving average is $41.99 and its 200-day moving average is $47.88.

Insider Activity

In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $40.59, for a total transaction of $162,360.00. Following the completion of the transaction, the chief executive officer now owns 526,531 shares of the company’s stock, valued at approximately $21,371,893.29. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several hedge funds and other institutional investors have recently modified their holdings of FORM. Franklin Resources Inc. raised its holdings in FormFactor by 5.1% in the third quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company’s stock valued at $18,940,000 after buying an additional 18,810 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of FormFactor by 7.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 47,821 shares of the semiconductor company’s stock valued at $2,200,000 after acquiring an additional 3,426 shares in the last quarter. Geode Capital Management LLC boosted its position in FormFactor by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock worth $95,105,000 after purchasing an additional 73,982 shares during the period. Barclays PLC increased its holdings in FormFactor by 351.9% in the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after purchasing an additional 113,296 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in FormFactor in the third quarter valued at about $550,000. 98.76% of the stock is owned by institutional investors and hedge funds.

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.