FormFactor Inc. (NASDAQ:FORM)’s share price dropped 1.4% during mid-day trading on Thursday . The stock traded as low as $10.33 and last traded at $10.37, with a volume of 129,895 shares changing hands. The stock had previously closed at $10.52.

FORM has been the topic of several research reports. 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. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target (up previously from $11.00) on shares of FormFactor in a report on Wednesday, August 3rd. Citigroup Inc. increased their price target on shares of FormFactor from $8.25 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of FormFactor from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 31st. Finally, TheStreet upgraded shares of FormFactor from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $11.80.

The stock has a market cap of $726.11 million and a price-to-earnings ratio of 30.53. The company has a 50 day moving average price of $9.82 and a 200 day moving average price of $8.04.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The company earned $83.10 million during the quarter, compared to analysts’ expectations of $78.23 million. During the same quarter in the previous year, the business posted $0.11 EPS. The business’s quarterly revenue was up 55.0% compared to the same quarter last year. Equities analysts forecast that FormFactor Inc. will post $0.47 earnings per share for the current fiscal year.

In related 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 completion of the sale, the chief financial officer now 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 through the SEC website. Also, Director Dennis Thomas St sold 23,120 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $10.51, for a total value of $242,991.20. Following the sale, the director now owns 164,933 shares of the company’s stock, valued at approximately $1,733,445.83. The disclosure for this sale can be found here.

An institutional investor recently raised its position in FormFactor stock. Victory Capital Management Inc. raised its stake in FormFactor Inc. (NASDAQ:FORM) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 155,515 shares of the company’s stock after buying an additional 21,270 shares during the period. Victory Capital Management Inc. owned about 0.27% of FormFactor worth $1,400,000 at the end of the most recent reporting 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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