FormFactor (NASDAQ:FORM) Raised to Buy at StockNews.com

StockNews.com upgraded shares of FormFactor (NASDAQ:FORM) from a hold rating to a buy rating in a report published on Monday morning.

Other research analysts have also recently issued research reports about the stock. Citigroup increased their target price on shares of FormFactor from $37.00 to $46.00 and gave the stock a neutral rating in a report on Thursday, May 2nd. B. Riley increased their target price on shares of FormFactor from $65.00 to $74.00 and gave the stock a buy rating in a report on Thursday, June 20th. Needham & Company LLC restated a buy rating and set a $70.00 target price on shares of FormFactor in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of FormFactor from $50.00 to $55.00 and gave the company a hold rating in a research note on Tuesday, July 16th. Finally, Craig Hallum increased their price target on shares of FormFactor from $50.00 to $60.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $59.63.

FormFactor Stock Up 1.9 %

FORM traded up $0.80 during trading hours on Monday, hitting $42.05. 734,999 shares of the company’s stock were exchanged, compared to its average volume of 569,192. FormFactor has a 1-year low of $29.50 and a 1-year high of $63.63. The stock’s 50-day moving average is $56.82 and its two-hundred day moving average is $49.52. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 32.01 and a beta of 1.12. The company has a quick ratio of 3.67, a current ratio of 4.46 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.93, for a total transaction of $203,720.00. Following the transaction, the chief executive officer now directly owns 523,187 shares of the company’s stock, valued at $26,645,913.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Rebeca Obregon-Jimenez sold 4,833 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $57.59, for a total transaction of $278,332.47. Following the transaction, the director now directly owns 10,598 shares of the company’s stock, valued at $610,338.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.93, for a total transaction of $203,720.00. Following the completion of the transaction, the chief executive officer now directly owns 523,187 shares in the company, valued at $26,645,913.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,123 shares of company stock valued at $1,018,182. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On FormFactor

Several hedge funds have recently bought and sold shares of FORM. Wellington Management Group LLP increased its holdings in FormFactor by 81.1% in 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 buying an additional 862,885 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of FormFactor by 91.5% during the second quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock valued at $77,636,000 after purchasing an additional 612,838 shares in the last quarter. Norges Bank acquired a new position in shares of FormFactor in the fourth quarter valued at approximately $21,454,000. TimesSquare Capital Management LLC bought a new position in FormFactor in the 4th quarter valued at approximately $15,484,000. Finally, Vanguard Group Inc. boosted its position in FormFactor by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,622,484 shares of the semiconductor company’s stock worth $439,074,000 after buying an additional 154,361 shares during the period. 98.76% of the stock is owned by institutional investors.

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.