FormFactor (NASDAQ:FORM) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of FormFactor (NASDAQ:FORM) from a neutral rating to a buy rating in a research report released on Monday morning, Marketbeat.com reports. The firm currently has $51.00 price objective on the semiconductor company’s stock, up from their previous price objective of $44.00.

Several other analysts have also commented on FORM. TD Cowen dropped their price objective on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Needham & Company LLC cut 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, FormFactor currently has an average rating of “Moderate Buy” and an average price target of $56.00.

FormFactor Price Performance

NASDAQ:FORM opened at $44.11 on Monday. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. FormFactor has a 52 week low of $37.25 and a 52 week high of $63.63. The stock’s 50-day moving average price is $42.31 and its 200-day moving average price is $46.92. The stock has a market capitalization of $3.42 billion, a PE ratio of 25.35 and a beta of 1.08.

Insiders Place Their Bets

In other 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 value of $162,360.00. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of FormFactor

A number of hedge funds have recently bought and sold shares of the business. Algert Global LLC grew its position in shares of FormFactor by 134.4% in the third quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company’s stock valued at $2,440,000 after purchasing an additional 30,410 shares in the last quarter. FMR LLC grew its holdings in FormFactor by 1,255.5% in the 3rd quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock valued at $5,356,000 after buying an additional 107,837 shares in the last quarter. Citigroup Inc. increased its stake in shares of FormFactor by 59.4% in the 3rd quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company’s stock worth $4,867,000 after acquiring an additional 39,419 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of FormFactor during the 3rd quarter worth $818,000. Finally, Barclays PLC boosted its position in shares of FormFactor by 351.9% during the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after acquiring an additional 113,296 shares during the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

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.