FormFactor Inc. (FORM) Reaches New 12-Month High at $11.19
FormFactor Inc. (NASDAQ:FORM) hit a new 52-week high during trading on Monday . The stock traded as high as $11.19 and last traded at $10.79, with a volume of 684,029 shares. The stock had previously closed at $10.70.
Several equities research analysts have commented on the stock. TheStreet raised shares of FormFactor from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Citigroup Inc. boosted their price target on shares of FormFactor from $8.25 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target (up from $11.00) on shares of FormFactor in a research report on Wednesday, August 3rd. B. Riley reissued a “buy” rating and set a $13.00 price target on shares of FormFactor in a research report on Wednesday, August 3rd. Finally, Stifel Nicolaus raised shares of FormFactor from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $11.80.
The stock’s 50 day moving average price is $9.98 and its 200 day moving average price is $8.13. The stock has a market cap of $750.11 million and a P/E ratio of 31.54.
FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm had revenue of $83.10 million for the quarter, compared to analyst estimates of $78.23 million. During the same quarter last year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 55.0% compared to the same quarter last year. Equities analysts predict that FormFactor Inc. will post $0.47 earnings per share for the current year.
In other FormFactor news, CFO Michael M. Ludwig sold 3,692 shares of the firm’s 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 completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis Thomas St sold 23,120 shares of the firm’s 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 of the company’s stock, valued at $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. increased its position in FormFactor Inc. (NASDAQ:FORM) by 15.8% during the fourth quarter, according to its most recent disclosure 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 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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