FormFactor Inc. (FORM) Sees Large Volume Increase
FormFactor Inc. (NASDAQ:FORM) shares saw unusually-strong trading volume on Friday . Approximately 786,993 shares traded hands during trading, an increase of 69% from the previous session’s volume of 466,642 shares.The stock last traded at $10.53 and had previously closed at $10.47.
Several equities research analysts have issued reports on FORM shares. B. Riley reaffirmed a “buy” rating and set a $11.00 price target on shares of FormFactor in a research note on Sunday, July 3rd. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price (up from $11.00) on shares of FormFactor in a research report on Wednesday. Citigroup Inc. raised their target price on shares of FormFactor from $8.25 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday. Zacks Investment Research raised shares of FormFactor from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, June 30th. Finally, Stifel Nicolaus raised shares of FormFactor from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. FormFactor currently has an average rating of “Buy” and a consensus target price of $11.80.
The company’s 50-day moving average is $9.45 and its 200-day moving average is $7.91. The firm has a market cap of $627.28 million and a PE ratio of 31.25.
FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. During the same quarter last year, the firm posted $0.11 earnings per share. The business earned $83.10 million during the quarter, compared to the consensus estimate of $78.23 million. FormFactor’s revenue was up 55.0% compared to the same quarter last year. Equities research analysts expect that FormFactor Inc. will post $0.47 EPS for the current fiscal year.
In other FormFactor news, CFO Michael M. Ludwig sold 11,423 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $6.81, for a total value of $77,790.63. Following the sale, the chief financial officer now directly owns 200,513 shares in the company, valued at $1,365,493.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mike Slessor sold 12,697 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $6.82, for a total transaction of $86,593.54. Following the completion of the sale, the chief executive officer now owns 268,009 shares in the company, valued at $1,827,821.38. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in FormFactor stock. Wells Fargo & Company MN increased its stake in FormFactor Inc. (NASDAQ:FORM) by 16.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,097,968 shares of the company’s stock after buying an additional 297,205 shares during the period. Wells Fargo & Company MN owned about 3.61% of FormFactor worth $18,883,000 at the end of the most recent 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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