FormFactor (NASDAQ:FORM) Trading 5.8% Higher – What’s Next?

FormFactor, Inc. (NASDAQ:FORM) shot up 5.8% during mid-day trading on Wednesday . The stock traded as high as $24.85 and last traded at $24.53. 142,543 shares were traded 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

Several brokerages have weighed in on FORM. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $51.00 in a research report on Monday, January 6th. Stifel Nicolaus reduced their price objective on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Evercore ISI decreased their price target on FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research note on Thursday, February 6th. Finally, B. Riley downgraded shares of FormFactor from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $64.00 to $34.00 in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.50.

FormFactor Trading Up 8.5 %

The company has a current ratio of 4.61, a quick ratio of 3.83 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.95 billion, a P/E ratio of 28.33 and a beta of 1.15. The company’s fifty day moving average is $32.95 and its 200-day moving average is $39.59.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share 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%. As a group, sell-side analysts anticipate that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated 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 transaction, the chief executive officer now directly owns 514,650 shares of the company’s stock, valued at $14,533,716. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in FormFactor during the 4th quarter worth $27,000. Versant Capital Management Inc increased its holdings in FormFactor by 256.3% in the first quarter. Versant Capital Management Inc now owns 1,197 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 861 shares during the last quarter. Quarry LP lifted its stake in FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 523 shares during the period. Pinpoint Asset Management Ltd bought a new position in FormFactor during the fourth quarter worth about $43,000. Finally, Manchester Capital Management LLC increased its stake in shares of FormFactor by 63.8% in the 4th quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 440 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

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.