FormFactor (NASDAQ:FORM) Trading 7.2% Higher After Analyst Upgrade

Shares of FormFactor, Inc. (NASDAQ:FORMGet Free Report) shot up 7.2% during mid-day trading on Friday after TheStreet upgraded the stock from a c rating to a b- rating. The stock traded as high as $41.78 and last traded at $41.78. 176,607 shares were traded during trading, a decline of 57% from the average session volume of 406,634 shares. The stock had previously closed at $38.96.

A number of other research analysts have also issued reports on the company. TD Cowen boosted their price target on FormFactor from $33.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $46.00 price objective on shares of FormFactor in a report on Thursday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.67.

View Our Latest Report on FORM

Insider Transactions at FormFactor

In other news, Director Dennis Thomas St sold 3,792 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $38.24, for a total transaction of $145,006.08. Following the sale, the director now directly owns 38,701 shares of the company’s stock, valued at $1,479,926.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dennis Thomas St sold 3,792 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $38.24, for a total transaction of $145,006.08. Following the sale, the director now directly owns 38,701 shares of the company’s stock, valued at $1,479,926.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shai Shahar sold 16,618 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $39.49, for a total value of $656,244.82. Following the transaction, the chief financial officer now directly owns 77,941 shares in the company, valued at $3,077,890.09. The disclosure for this sale can be found here. Insiders have sold 28,900 shares of company stock valued at $1,119,711 over the last three months. Company insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FORM. Belpointe Asset Management LLC raised its position in FormFactor by 170.1% during the first quarter. Belpointe Asset Management LLC now owns 1,086 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 684 shares during the period. GAMMA Investing LLC acquired a new position in FormFactor in the 4th quarter worth about $55,000. Quadrant Capital Group LLC increased its position in FormFactor by 19.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 260 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in FormFactor in the 3rd quarter worth about $70,000. Finally, Tower Research Capital LLC TRC increased its position in FormFactor by 247.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,487 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 1,771 shares during the last quarter. 93.64% of the stock is owned by institutional investors and hedge funds.

FormFactor Stock Performance

The company has a current ratio of 4.38, a quick ratio of 3.05 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $39.96 and a two-hundred day simple moving average of $36.31. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 40.52 and a beta of 1.17.

FormFactor (NASDAQ:FORMGet Free Report) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. The company had revenue of $168.16 million for the quarter, compared to analyst estimates of $165.49 million. As a group, sell-side analysts forecast that FormFactor, Inc. will post 0.72 earnings per share for the current fiscal year.

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. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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