FormFactor Inc. (FORM) Sees Large Volume Increase
Shares of FormFactor Inc. (NASDAQ:FORM) saw strong trading volume on Thursday . 522,021 shares traded hands during trading, a decline of 19% from the previous session’s volume of 644,311 shares.The stock last traded at $9.05 and had previously closed at $8.85.
A number of research analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $11.00 price objective on shares of FormFactor in a research note on Tuesday, June 28th. Zacks Investment Research cut FormFactor from a “hold” rating to a “strong sell” rating in a report on Thursday, April 28th. Finally, Needham & Company LLC boosted their price target on FormFactor from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, June 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.06.
The company has a 50-day moving average price of $8.10 and a 200-day moving average price of $7.69. The firm’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 (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.06. The firm earned $53.60 million during the quarter, compared to analysts’ expectations of $56.38 million. During the same period last year, the firm posted $0.10 EPS. The firm’s revenue was down 24.3% on a year-over-year basis. Equities analysts anticipate that FormFactor Inc. will post $0.40 earnings per share for the current year.
In related news, CFO Michael M. Ludwig sold 11,423 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $6.81, for a total transaction of $77,790.63. Following the sale, the chief financial officer now directly owns 200,513 shares of the company’s stock, valued at $1,365,493.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 32,857 shares of the firm’s stock in a transaction dated 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 hedge funds recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in 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 during the period. Neuberger Berman Group LLC raised its stake in 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 period. Finally, Wells Fargo & Company MN raised its stake in 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 period.
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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