FormFactor (NASDAQ:FORM) Shares Up 6.8% – Still a Buy?

FormFactor, Inc. (NASDAQ:FORM) shares shot up 6.8% during trading on Wednesday . The company traded as high as $47.28 and last traded at $46.87. 314,873 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 589,852 shares. The stock had previously closed at $43.87.

Analyst Ratings Changes

Several research firms recently commented on FORM. Needham & Company LLC cut their target price on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. TD Cowen reduced their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Finally, StockNews.com lowered shares of FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.38.

FormFactor Stock Performance

The company has a market cap of $3.29 billion, a PE ratio of 24.39 and a beta of 1.12. The company’s fifty day moving average price is $42.09 and its 200 day moving average price is $48.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94.

Insider Buying and Selling

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $40.59, for a total value of $162,360.00. Following the transaction, the chief executive officer now directly owns 526,531 shares in the company, valued at $21,371,893.29. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FormFactor

Several institutional investors and hedge funds have recently bought and sold shares of the company. Algert Global LLC raised its position in shares of FormFactor by 134.4% in the third quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company’s stock valued at $2,440,000 after purchasing an additional 30,410 shares during the period. FMR LLC grew its position in shares of FormFactor by 1,255.5% in the third quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock valued at $5,356,000 after purchasing an additional 107,837 shares in the last quarter. Citigroup Inc. raised its stake in shares of FormFactor by 59.4% during the 3rd quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company’s stock valued at $4,867,000 after purchasing an additional 39,419 shares during the period. Intech Investment Management LLC bought a new stake in shares of FormFactor during the third quarter valued at about $818,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of FormFactor by 129.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,465 shares of the semiconductor company’s stock worth $3,793,000 after buying an additional 46,488 shares in the last quarter. 98.76% of the stock is owned by institutional investors.

FormFactor Company Profile

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.