FormFactor Inc. (FORM) Sets New 1-Year High at $10.06
Shares of FormFactor Inc. (NASDAQ:FORM) reached a new 52-week high during trading on Thursday . The company traded as high as $10.06 and last traded at $9.86, with a volume of 117,401 shares. The stock had previously closed at $9.96.
A number of analysts have recently commented on the company. B. Riley restated a “buy” rating and set a $10.00 price objective on shares of FormFactor in a report on Tuesday, May 3rd. Zacks Investment Research downgraded FormFactor from a “hold” rating to a “strong sell” rating in a report on Thursday, April 28th. Needham & Company LLC increased their price target on FormFactor from $10.00 to $11.00 and gave the company a “buy” rating in a report on Monday, June 27th. Finally, Stifel Nicolaus downgraded FormFactor from a “buy” rating to a “hold” rating in a report on Wednesday, March 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $10.06.
The firm’s 50 day moving average is $8.50 and its 200 day moving average is $7.73. The firm’s market capitalization is $590.89 million.
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. During the same period last year, the company earned $0.10 earnings per share. The company had revenue of $53.60 million for the quarter, compared to analysts’ expectations of $56.38 million. The business’s revenue for the quarter was down 24.3% on a year-over-year basis. Analysts predict that FormFactor Inc. will post $0.38 EPS for the current fiscal year.
In related news, CFO Michael M. Ludwig sold 3,692 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 214,090 shares of the company’s stock, valued at approximately $1,569,279.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael M. Ludwig sold 24,524 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $7.14, for a total transaction of $175,101.36. Following the completion of the transaction, the chief financial officer now directly owns 210,037 shares of the company’s stock, valued at approximately $1,499,664.18. The disclosure for this sale can be found here.
An institutional investor recently raised its position in FormFactor stock. Victory Capital Management Inc. boosted its position in FormFactor Inc. (NASDAQ:FORM) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the SEC.
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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