FormFactor Inc. (FORM) Sets New 1-Year High at $9.48
FormFactor Inc. (NASDAQ:FORM) reached a new 52-week high on Friday . The stock traded as high as $9.48 and last traded at $9.44, with a volume of 421,869 shares traded. The stock had previously closed at $9.11.
Several research firms have weighed in on FORM. B. Riley reiterated a “buy” rating and issued a $10.00 price objective on shares of FormFactor in a report on Thursday, April 28th. Citigroup Inc. dropped their price objective on FormFactor from $9.00 to $8.25 and set a “neutral” rating for the company in a report on Tuesday, March 15th. Zacks Investment Research upgraded FormFactor from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 31st. Finally, Needham & Company LLC increased their price objective on FormFactor from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, June 27th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $10.06.
The company’s 50-day moving average price is $8.01 and its 200-day moving average price is $7.69. The stock’s market capitalization is $556.42 million.
FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, April 27th. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The business earned $53.60 million during the quarter, compared to the consensus estimate of $56.38 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. FormFactor’s revenue was down 24.3% compared to the same quarter last year. On average, equities analysts expect that FormFactor Inc. will post $0.40 earnings per share for the current year.
In other FormFactor news, CFO Michael M. Ludwig sold 3,692 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $7.33, for a total transaction of $27,062.36. Following the sale, the chief financial officer now directly owns 214,090 shares of the company’s stock, valued at $1,569,279.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mike Slessor sold 32,857 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $7.14, for a total value of $234,598.98. Following the sale, the chief executive officer now directly owns 282,533 shares in the company, valued at $2,017,285.62. The disclosure for this sale can be found here.
A number of large investors recently modified their holdings of FORM. Neuberger Berman Group LLC boosted its stake in shares of FormFactor by 1.5% in the fourth quarter. Neuberger Berman Group LLC now owns 1,976,303 shares of the company’s stock valued at $17,787,000 after buying an additional 29,012 shares during the last quarter. Wells Fargo & Company MN boosted its position in FormFactor by 16.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,097,968 shares of the company’s stock worth $18,883,000 after buying an additional 297,205 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in FormFactor by 15.8% in the fourth quarter. Victory Capital Management Inc. now owns 155,515 shares of the company’s stock worth $1,400,000 after buying an additional 21,270 shares in the last quarter.
FormFactor, Inc designs, develops, manufactures, sells and supports semiconductor probe card products. The Company is a supplier of probe cards to the manufacturers of dynamic random-access memory (DRAM), flash memory devices, microprocessor, chipset and other system on chip (SoC) devices. Semiconductor manufacturers use its probe cards to perform wafer test, which is the testing of the semiconductor die, or chips.
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