FormFactor (NASDAQ:FORM) Trading 6.8% Higher – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FORM shares. Needham & Company LLC decreased their price target on FormFactor from $60.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, TD Cowen cut their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.38.

FormFactor Price Performance

The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.77 billion, a PE ratio of 26.94 and a beta of 1.12. The stock’s 50-day moving average is $42.23 and its 200 day moving average is $48.11.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $40.59, for a total transaction of $162,360.00. Following the completion of the sale, the chief executive officer now owns 526,531 shares in the company, valued at approximately $21,371,893.29. This represents a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in FormFactor by 1.4% during the third quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock valued at $134,019,000 after purchasing an additional 39,784 shares during the last quarter. Geode Capital Management LLC grew its position in shares of FormFactor by 3.7% in the third quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock valued at $95,105,000 after purchasing an additional 73,982 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in FormFactor by 91.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock valued at $77,636,000 after buying an additional 612,838 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of FormFactor by 8.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company’s stock worth $48,928,000 after acquiring an additional 79,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in FormFactor by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 886,103 shares of the semiconductor company’s stock worth $40,761,000 after acquiring an additional 32,889 shares during the period. 98.76% of the stock is currently owned by institutional investors and hedge funds.

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.