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

Shares of FormFactor, Inc. (NASDAQ:FORM) hit a new 52-week high during trading on Tuesday . The company traded as high as $78.95 and last traded at $78.7880, with a volume of 151707 shares. The stock had previously closed at $78.31.

Analysts Set New Price Targets

FORM has been the topic of several research reports. B. Riley restated a “buy” rating on shares of FormFactor in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of FormFactor in a research note on Wednesday, October 8th. DA Davidson set a $55.00 price objective on FormFactor in a research report on Thursday, October 30th. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $31.00 to $62.00 in a research report on Thursday, October 30th. Finally, Stifel Nicolaus upped their price target on shares of FormFactor from $42.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.88.

FormFactor Price Performance

The company has a quick ratio of 3.46, a current ratio of 4.30 and a debt-to-equity ratio of 0.01. The stock has a market cap of $6.14 billion, a P/E ratio of 152.23 and a beta of 1.12. The firm has a 50 day moving average price of $58.33 and a 200 day moving average price of $43.96.

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 39,606 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 485,995 shares of the company’s stock, valued at approximately $31,589,675. This represents a 7.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kelley Steven-Waiss sold 2,700 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $55.97, for a total value of $151,119.00. Following the completion of the sale, the director owned 32,779 shares of the company’s stock, valued at $1,834,640.63. The trade was a 7.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 73,466 shares of company stock valued at $4,683,377 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of FormFactor

Several institutional investors have recently made changes to their positions in FORM. SG Americas Securities LLC lifted its holdings in FormFactor by 1,158.7% in the 4th quarter. SG Americas Securities LLC now owns 175,432 shares of the semiconductor company’s stock worth $9,786,000 after purchasing an additional 161,494 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of FormFactor by 384.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 562,769 shares of the semiconductor company’s stock worth $31,391,000 after buying an additional 446,615 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of FormFactor by 2.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,073 shares of the semiconductor company’s stock worth $897,000 after acquiring an additional 370 shares during the last quarter. GAMMA Investing LLC grew its stake in FormFactor by 12.6% during the fourth quarter. GAMMA Investing LLC now owns 5,184 shares of the semiconductor company’s stock valued at $289,000 after acquiring an additional 579 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in FormFactor in the 3rd quarter valued at $303,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

About FormFactor

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.