FormFactor Inc. (FORM) Trading 2% Higher
FormFactor Inc. (NASDAQ:FORM)’s share price traded up 2% during trading on Tuesday . The stock traded as high as $10.68 and last traded at $10.66, with a volume of 735,437 shares changing hands. The stock had previously closed at $10.45.
Several equities analysts have recently commented on the stock. TheStreet upgraded shares of FormFactor from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Citigroup Inc. boosted their price target on shares of FormFactor from $8.25 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Needham & Company LLC restated a “buy” rating and set a $13.00 price target (up from $11.00) on shares of FormFactor in a report on Wednesday, August 3rd. B. Riley restated a “buy” rating and set a $13.00 price target on shares of FormFactor in a report on Wednesday, August 3rd. Finally, Stifel Nicolaus upgraded shares of FormFactor from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, August 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $11.80.
The stock has a 50 day moving average price of $9.78 and a 200 day moving average price of $8.02. The firm has a market capitalization of $752.22 million and a PE ratio of 31.63.
FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The business earned $83.10 million during the quarter, compared to analyst estimates of $78.23 million. During the same quarter in the prior year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 55.0% on a year-over-year basis. On average, equities analysts anticipate that FormFactor Inc. will post $0.47 EPS for the current fiscal year.
In other FormFactor news, CFO Michael M. Ludwig sold 3,692 shares of the stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $7.33, for a total value of $27,062.36. Following the sale, the chief financial officer now directly owns 214,090 shares in the company, valued at $1,569,279.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dennis Thomas St sold 23,120 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $10.51, for a total transaction of $242,991.20. Following the completion of the sale, the director now owns 164,933 shares in the company, valued at $1,733,445.83. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in FormFactor stock. Wells Fargo & Company MN boosted its stake in FormFactor Inc. (NASDAQ:FORM) by 16.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 3.61% of FormFactor worth $18,883,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.