FormFactor Inc. (FORM) Hits New 1-Year High at $9.48
Shares of FormFactor Inc. (NASDAQ:FORM) hit a new 52-week high during trading on Friday . The stock traded as high as $9.48 and last traded at $9.44, with a volume of 421,869 shares. The stock had previously closed at $9.11.
Several analysts have recently commented on FORM shares. B. Riley restated a “buy” rating and set a $10.00 target price on shares of FormFactor in a report on Tuesday, May 3rd. Zacks Investment Research raised FormFactor from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Thursday, June 30th. Needham & Company LLC upped their price target on FormFactor from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, June 27th. Finally, Stifel Nicolaus lowered FormFactor from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $10.06.
The firm’s 50-day moving average is $8.10 and its 200-day moving average is $7.69. The company’s market cap is $562.61 million.
FormFactor (NASDAQ:FORM) last announced 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 analysts’ expectations of $56.38 million. FormFactor’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. On average, equities research analysts expect that FormFactor Inc. will post $0.38 EPS for the current fiscal year.
In other FormFactor news, CFO Michael M. Ludwig sold 11,423 shares of FormFactor stock in a transaction on Monday, May 9th. The stock was sold at an average price of $6.81, for a total value of $77,790.63. Following the completion of the transaction, the chief financial officer now directly owns 200,513 shares of the company’s stock, valued at approximately $1,365,493.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mike Slessor sold 32,857 shares of FormFactor stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $7.14, for a total value of $234,598.98. Following the completion of the transaction, the chief executive officer now directly owns 282,533 shares of the company’s stock, valued at $2,017,285.62. The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of FormFactor by 15.8% in the fourth quarter. Victory Capital Management Inc. now owns 155,515 shares of the company’s stock valued at $1,400,000 after buying an additional 21,270 shares in the last quarter. Neuberger Berman Group LLC raised its position 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. Finally, Wells Fargo & Company MN raised its position in shares of FormFactor by 16.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,097,968 shares of the company’s stock valued at $18,883,000 after buying an additional 297,205 shares during 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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