FormFactor (NASDAQ:FORM) Reaches New 1-Year High – Here’s What Happened

FormFactor, Inc. (NASDAQ:FORM)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $68.85 and last traded at $68.9450, with a volume of 97684 shares traded. The stock had previously closed at $68.64.

Analyst Ratings Changes

A number of brokerages have commented on FORM. Northland Securities set a $44.00 target price on FormFactor in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FormFactor in a research note on Wednesday, October 8th. Evercore ISI boosted their price target on FormFactor from $31.00 to $50.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. B. Riley increased their price objective on FormFactor from $66.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Cantor Fitzgerald started coverage on shares of FormFactor in a research report on Tuesday, November 18th. They set an “overweight” rating and a $75.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $57.00.

FormFactor Stock Performance

The stock has a fifty day moving average price of $56.56 and a 200 day moving average price of $42.82. The company has a current ratio of 4.30, a quick ratio of 3.46 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 139.52 and a beta of 1.12.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 39,606 shares of FormFactor stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $65.00, for a total value of $2,574,390.00. Following the transaction, the chief executive officer owned 485,995 shares of the company’s stock, valued at $31,589,675. This trade represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelley Steven-Waiss sold 2,700 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $55.97, for a total transaction of $151,119.00. Following the sale, the director directly owned 32,779 shares of the company’s stock, valued at approximately $1,834,640.63. This represents a 7.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,378 shares of company stock worth $3,678,088 over the last 90 days. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of FormFactor by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,072 shares of the semiconductor company’s stock worth $1,303,000 after purchasing an additional 2,001 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of FormFactor by 870.3% during the first quarter. Jones Financial Companies Lllp now owns 5,288 shares of the semiconductor company’s stock worth $150,000 after buying an additional 4,743 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of FormFactor by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 490,394 shares of the semiconductor company’s stock worth $13,873,000 after buying an additional 53,310 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of FormFactor by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,979 shares of the semiconductor company’s stock valued at $4,922,000 after acquiring an additional 9,394 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of FormFactor by 18.1% in the first quarter. Intech Investment Management LLC now owns 53,531 shares of the semiconductor company’s stock worth $1,514,000 after acquiring an additional 8,194 shares during the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

FormFactor Company Profile

FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.