FormFactor (NASDAQ:FORM) Trading Up 5.8% – Here’s What Happened

FormFactor, Inc. (NASDAQ:FORM)’s stock price shot up 5.8% during trading on Wednesday . The stock traded as high as $24.85 and last traded at $24.53. 142,543 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 731,816 shares. The stock had previously closed at $23.18.

Analysts Set New Price Targets

A number of equities analysts recently commented on FORM shares. B. Riley downgraded FormFactor from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $34.00 in a research report on Thursday, February 6th. Stifel Nicolaus reduced their price target on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Evercore ISI cut their price objective on shares of FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $48.50.

FormFactor Price Performance

The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 30.06 and a beta of 1.15. The stock’s 50-day simple moving average is $32.28 and its 200 day simple moving average is $39.30.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. On average, equities research analysts anticipate that FormFactor, Inc. will post 0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $28.24, for a total value of $112,960.00. Following the completion of the sale, the chief executive officer now directly owns 514,650 shares of the company’s stock, valued at approximately $14,533,716. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On FormFactor

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of FormFactor during the fourth quarter worth about $27,000. Versant Capital Management Inc lifted its holdings in FormFactor by 256.3% during the 1st quarter. Versant Capital Management Inc now owns 1,197 shares of the semiconductor company’s stock worth $34,000 after buying an additional 861 shares in the last quarter. Pinpoint Asset Management Ltd purchased a new position in FormFactor in the 4th quarter valued at approximately $43,000. Manchester Capital Management LLC grew its stake in shares of FormFactor by 63.8% in the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 440 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of FormFactor by 4,732.4% during the fourth quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 1,609 shares during the period. 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.