FormFactor (NASDAQ:FORM) Shares Gap Up to $41.99

FormFactor, Inc. (NASDAQ:FORMGet Free Report)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $41.99, but opened at $43.56. FormFactor shares last traded at $43.60, with a volume of 51,042 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FORM shares. Needham & Company LLC restated a “buy” rating and issued a $46.00 price target on shares of FormFactor in a research report on Thursday, February 8th. TheStreet upgraded shares of FormFactor from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Finally, TD Cowen increased their target price on shares of FormFactor from $33.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.67.

Read Our Latest Research Report on FormFactor

FormFactor Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.38. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 40.84 and a beta of 1.18. The firm’s 50-day simple moving average is $41.89 and its 200-day simple moving average is $38.23.

FormFactor (NASDAQ:FORMGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $168.16 million for the quarter, compared to analyst estimates of $165.49 million. FormFactor had a net margin of 12.42% and a return on equity of 2.43%. Sell-side analysts forecast that FormFactor, Inc. will post 0.63 earnings per share for the current year.

Insiders Place Their Bets

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the sale, the chief financial officer now directly owns 67,141 shares in the company, valued at approximately $2,827,978.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $43.38, for a total transaction of $173,520.00. Following the completion of the transaction, the chief executive officer now directly owns 499,781 shares of the company’s stock, valued at approximately $21,680,499.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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. Insiders have sold 24,000 shares of company stock worth $1,039,820 in the last ninety days. Insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in FormFactor by 81.1% during the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock valued at $80,387,000 after purchasing an additional 862,885 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in FormFactor by 74.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 42,840 shares of the semiconductor company’s stock valued at $1,787,000 after acquiring an additional 18,293 shares in the last quarter. Barclays PLC increased its position in FormFactor by 232.6% in the 4th quarter. Barclays PLC now owns 125,799 shares of the semiconductor company’s stock valued at $5,247,000 after acquiring an additional 87,978 shares in the last quarter. Needham Investment Management LLC increased its position in FormFactor by 13.8% in the 4th quarter. Needham Investment Management LLC now owns 577,500 shares of the semiconductor company’s stock valued at $24,088,000 after acquiring an additional 70,000 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in FormFactor by 1.5% in the 4th quarter. Nuveen Asset Management LLC now owns 322,250 shares of the semiconductor company’s stock valued at $13,441,000 after acquiring an additional 4,856 shares in the last quarter. 93.64% of the stock is owned by institutional investors.

About FormFactor

(Get Free Report)

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.

Further Reading

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