FormFactor Inc. (FORM) Reaches New 52-Week High at $11.19
FormFactor Inc. (NASDAQ:FORM) shares hit a new 52-week high on Monday . The company 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.
A number of brokerages have weighed in on FORM. B. Riley reissued a “buy” rating and set a $11.00 price target on shares of FormFactor in a research note on Sunday, July 3rd. Zacks Investment Research lowered FormFactor from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 28th. Stifel Nicolaus raised FormFactor from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Tuesday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target (up previously from $11.00) on shares of FormFactor in a research note on Wednesday, August 3rd. Finally, TheStreet raised FormFactor from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. FormFactor has an average rating of “Buy” and a consensus target price of $11.80.
The stock has a market capitalization of $756.46 million and a price-to-earnings ratio of 31.81. The company has a 50 day moving average price of $9.91 and a 200-day moving average price of $8.07.
FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. The company had revenue of $83.10 million for the quarter, compared to analyst estimates of $78.23 million. During the same quarter in the prior year, the business earned $0.11 EPS. FormFactor’s revenue was up 55.0% compared to the same quarter last year. 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 FormFactor 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 transaction, the chief financial officer now owns 214,090 shares in the company, valued at $1,569,279.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dennis Thomas St sold 23,120 shares of FormFactor stock in a transaction that occurred 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 transaction, the director now owns 164,933 shares in the company, valued at approximately $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. raised its stake in FormFactor Inc. (NASDAQ:FORM) by 15.8% during the fourth quarter, according to its most recent 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 about 0.27% of FormFactor worth $1,400,000 as of its most recent SEC filing.
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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