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

FormFactor, Inc. (NASDAQ:FORM) rose 5.8% during trading on Wednesday . The stock traded as high as $24.85 and last traded at $24.53. Approximately 142,543 shares changed hands during trading, a decline of 81% from the average daily volume of 731,816 shares. The stock had previously closed at $23.18.

Wall Street Analyst Weigh In

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

FormFactor Stock Up 8.5 %

The stock has a market capitalization of $1.95 billion, a P/E ratio of 28.33 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.83. The firm has a 50-day simple moving average of $32.95 and a 200 day simple moving average of $39.59.

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

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $28.24, for a total value of $112,960.00. Following the transaction, the chief executive officer now owns 514,650 shares of the company’s stock, valued at approximately $14,533,716. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On FormFactor

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in FormFactor by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,581,258 shares of the semiconductor company’s stock valued at $465,575,000 after purchasing an additional 484,176 shares during the period. Earnest Partners LLC increased its holdings in FormFactor by 10.9% during the 4th quarter. Earnest Partners LLC now owns 6,037,082 shares of the semiconductor company’s stock worth $265,632,000 after acquiring an additional 594,426 shares during the period. Alliancebernstein L.P. raised its holdings in shares of FormFactor by 127.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,114,779 shares of the semiconductor company’s stock valued at $137,050,000 after acquiring an additional 1,742,493 shares in the last quarter. State Street Corp raised its position in shares of FormFactor by 1.4% during the 3rd quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock valued at $134,019,000 after buying an additional 39,784 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in FormFactor by 29.9% during the fourth quarter. Bank of America Corp DE now owns 2,542,296 shares of the semiconductor company’s stock worth $111,861,000 after purchasing an additional 585,117 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

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.