FormFactor Inc. (FORM) Sets New 12-Month High at $10.06
FormFactor Inc. (NASDAQ:FORM)’s share price reached a new 52-week high on Thursday . The stock traded as high as $10.06 and last traded at $9.86, with a volume of 117,401 shares changing hands. The stock had previously closed at $9.96.
Several equities analysts have weighed in on the company. B. Riley reaffirmed a “buy” rating and issued a $10.00 target price on shares of FormFactor in a research report on Thursday, April 28th. Zacks Investment Research raised FormFactor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 31st. Needham & Company LLC lifted their target price on FormFactor from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, June 27th. Finally, Stifel Nicolaus downgraded FormFactor from a “buy” rating to a “hold” rating in a research report on Wednesday, March 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $10.06.
The company’s market capitalization is $583.23 million. The company has a 50-day moving average price of $8.34 and a 200 day moving average price of $7.71.
FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, April 27th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.06. The company earned $53.60 million during the quarter, compared to analyst estimates of $56.38 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm’s revenue was down 24.3% on a year-over-year basis. On average, analysts predict that FormFactor Inc. will post $0.38 EPS for the current year.
In other news, CFO Michael M. Ludwig sold 3,692 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $7.33, for a total value of $27,062.36. Following the transaction, the chief financial officer now directly owns 214,090 shares in the company, valued at approximately $1,569,279.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mike Slessor sold 32,857 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $7.14, for a total value of $234,598.98. Following the completion of the transaction, the chief executive officer now owns 282,533 shares in the company, valued at $2,017,285.62. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC increased 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. Wells Fargo & Company MN increased 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. Finally, Victory Capital Management Inc. raised its stake 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.
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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