FormFactor Inc. (FORM) Sees Strong Trading Volume
Shares of FormFactor Inc. (NASDAQ:FORM) saw strong trading volume on Friday . 786,993 shares were traded during trading, an increase of 69% from the previous session’s volume of 466,642 shares.The stock last traded at $10.53 and had previously closed at $10.47.
Several equities analysts have recently weighed in on the company. TheStreet upgraded FormFactor from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup Inc. raised their price target on FormFactor from $8.25 to $10.00 and gave the company a “neutral” rating in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective (up from $11.00) on shares of FormFactor in a report on Wednesday. B. Riley reiterated a “buy” rating and issued a $13.00 price objective on shares of FormFactor in a report on Wednesday. Finally, Stifel Nicolaus upgraded FormFactor from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. FormFactor currently has a consensus rating of “Buy” and an average price target of $11.80.
The stock has a market capitalization of $627.28 million and a price-to-earnings ratio of 31.25. The stock’s 50 day moving average price is $9.45 and its 200-day moving average price is $7.91.
FormFactor (NASDAQ:FORM) last issued its earnings results 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. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm earned $83.10 million during the quarter, compared to analysts’ expectations of $78.23 million. FormFactor’s quarterly revenue was up 55.0% compared to the same quarter last year. Analysts anticipate that FormFactor Inc. will post $0.47 earnings per share for the current year.
In related news, CFO Michael M. Ludwig sold 3,692 shares of the company’s stock in a transaction 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 directly owns 214,090 shares in the company, valued at approximately $1,569,279.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mike Slessor sold 12,697 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $6.82, for a total value of $86,593.54. Following the sale, the chief executive officer now owns 268,009 shares of the company’s stock, valued at $1,827,821.38. 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 Form 13F filing with the SEC. The institutional investor owned 155,515 shares of the company’s stock after buying an additional 21,270 shares during the period. Victory Capital Management Inc. owned approximately 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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