FormFactor (NASDAQ:FORM) Stock Jumps 9.7% Following Analyst Upgrade

FormFactor, Inc. (NASDAQ:FORM)’s share price traded up 9.7% during trading on Tuesday after Freedom Capital upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $96.28 and last traded at $95.8010. Approximately 155,800 shares changed hands during trading, a decline of 91% from the average session volume of 1,650,293 shares. The stock had previously closed at $87.30.

A number of other research analysts also recently weighed in on FORM. Wall Street Zen upgraded FormFactor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. Weiss Ratings upgraded FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Deutsche Bank Aktiengesellschaft started coverage on FormFactor in a research note on Wednesday, September 30th. They issued a “buy” rating and a $200.00 price target on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of FormFactor in a report on Monday, October 19th. Finally, Stifel Nicolaus set a $115.00 price objective on shares of FormFactor in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, FormFactor has an average rating of “Moderate Buy” and a consensus price target of $139.73.

Insider Transactions at FormFactor

In other FormFactor news, Director Kelley Steven-Waiss sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $96.10, for a total transaction of $201,810.00. Following the completion of the transaction, the director directly owned 24,426 shares in the company, valued at $2,347,338.60. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mike Slessor sold 17,510 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $104.73, for a total value of $1,833,822.30. Following the sale, the chief executive officer owned 466,694 shares of the company’s stock, valued at $48,876,862.62. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 46,710 shares of company stock valued at $5,520,564. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On FormFactor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of FormFactor in the second quarter worth approximately $1,676,772,000. Andar Capital Management HK Ltd purchased a new position in shares of FormFactor during the second quarter valued at approximately $27,000,000. Bank of America Corp DE purchased a new position in shares of FormFactor during the second quarter valued at approximately $285,257,000. Primecap Management Co. CA purchased a new position in shares of FormFactor during the second quarter valued at approximately $270,300,000. Finally, Reinhart Partners LLC. grew its holdings in FormFactor by 3.1% during the third quarter. Reinhart Partners LLC. now owns 659,667 shares of the semiconductor company’s stock worth $98,495,000 after buying an additional 19,745 shares in the last quarter. Institutional investors own 98.76% of the company’s stock.

FormFactor Price Performance

The company has a fifty day moving average of $115.03 and a 200-day moving average of $113.68. The firm has a market cap of $5.59 billion, a P/E ratio of 32.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.02.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.18. The business had revenue of $280.55 million for the quarter, compared to analysts’ expectations of $270.52 million. FormFactor had a return on equity of 18.40% and a net margin of 17.72%. The business’s revenue was up 38.4% on a year-over-year basis. During the same period last year, the business earned $0.33 EPS. On average, sell-side analysts anticipate that FormFactor, Inc. will post 2.96 EPS for the current fiscal year.

About FormFactor

FormFactor, Inc is a semiconductor test and measurement company that designs and manufactures equipment and components used to evaluate integrated circuits during the wafer fabrication and production process. Its products help semiconductor manufacturers and suppliers measure electrical performance, identify defects and improve the development and manufacturing of advanced chips.

The company’s portfolio includes probe cards used for wafer-level testing, as well as probe stations, analytical systems and related accessories for semiconductor engineering and production applications.