FormFactor Inc. (FORM) Sees Strong Trading Volume
Shares of FormFactor Inc. (NASDAQ:FORM) saw an uptick in trading volume on Thursday . 522,021 shares were traded during mid-day 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 brokerages have recently weighed in on FORM. B. Riley restated a “buy” rating and issued a $11.00 price objective on shares of FormFactor in a report on Tuesday, June 28th. Zacks Investment Research lowered shares of FormFactor from a “hold” rating to a “strong sell” rating in a report on Thursday, April 28th. Finally, Needham & Company LLC upped their price target on shares of FormFactor from $10.00 to $11.00 and gave the company a “buy” rating in a report on Monday, June 27th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. FormFactor currently has a consensus rating of “Buy” and a consensus price target of $10.06.
The stock’s 50-day moving average price is $8.01 and its 200 day moving average price is $7.69. The company’s market cap is $536.69 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 analysts’ consensus estimates of ($0.05) by $0.06. During the same period in the prior year, the business posted $0.10 earnings per share. The business had revenue of $53.60 million for the quarter, compared to analyst estimates of $56.38 million. FormFactor’s quarterly revenue was down 24.3% on a year-over-year basis. On average, analysts predict that FormFactor Inc. will post $0.40 earnings per share for the current year.
In related news, CEO Mike Slessor sold 12,697 shares of the firm’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $6.82, for a total value of $86,593.54. Following the completion of the transaction, the chief executive officer now directly owns 268,009 shares of the company’s stock, valued at $1,827,821.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $27,062.36. Following the completion of the transaction, the chief financial officer now directly owns 214,090 shares of the company’s stock, valued at $1,569,279.70. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have bought and sold shares of the stock. Victory Capital Management Inc. raised its position in FormFactor by 15.8% in the fourth quarter. Victory Capital Management Inc. now owns 155,515 shares of the company’s stock worth $1,400,000 after buying an additional 21,270 shares during the period. Neuberger Berman Group LLC raised its position in FormFactor by 1.5% in the fourth quarter. Neuberger Berman Group LLC now owns 1,976,303 shares of the company’s stock worth $17,787,000 after buying an additional 29,012 shares during the period. Finally, Wells Fargo & Company MN raised its position in FormFactor by 16.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,097,968 shares of the company’s stock worth $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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