FormFactor (NASDAQ:FORM) Reaches New 12-Month High – Still a Buy?

FormFactor, Inc. (NASDAQ:FORM)’s stock price hit a new 52-week high on Monday . The company traded as high as $62.80 and last traded at $62.5250, with a volume of 151420 shares traded. The stock had previously closed at $59.19.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FORM shares. Zacks Research upgraded shares of FormFactor from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. B. Riley boosted their price objective on shares of FormFactor from $66.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Stifel Nicolaus set a $42.00 price objective on shares of FormFactor in a research report on Thursday, October 30th. Evercore ISI raised their target price on shares of FormFactor from $31.00 to $50.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.00.

FormFactor Stock Up 5.4%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.46 and a current ratio of 4.30. The firm’s 50-day moving average is $54.31 and its 200 day moving average is $41.20. The firm has a market capitalization of $4.83 billion, a PE ratio of 119.94 and a beta of 1.12.

Insider Transactions at FormFactor

In related news, Director Kelley Steven-Waiss sold 2,700 shares of FormFactor stock in a transaction that occurred 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 completion of the transaction, the director directly owned 32,779 shares in the company, valued at $1,834,640.63. The trade was a 7.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dennis Thomas St sold 2,000 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $49.85, for a total value of $99,700.00. Following the sale, the director owned 38,957 shares in the company, valued at approximately $1,942,006.45. This trade represents a 4.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,772 shares of company stock valued at $1,103,698 in the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Hedge funds have recently modified their holdings of the company. State of Wyoming grew its holdings in FormFactor by 18.4% in the 3rd quarter. State of Wyoming now owns 1,680 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 261 shares during the period. Arizona State Retirement System boosted its position in shares of FormFactor by 1.5% in the third quarter. Arizona State Retirement System now owns 22,796 shares of the semiconductor company’s stock worth $830,000 after acquiring an additional 335 shares during the last quarter. Amalgamated Bank grew its holdings in FormFactor by 1.9% in the third quarter. Amalgamated Bank now owns 22,420 shares of the semiconductor company’s stock valued at $817,000 after purchasing an additional 411 shares during the period. Assenagon Asset Management S.A. increased its position in FormFactor by 0.4% during the third quarter. Assenagon Asset Management S.A. now owns 116,154 shares of the semiconductor company’s stock worth $4,230,000 after purchasing an additional 414 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in FormFactor by 84.4% during the third quarter. Jones Financial Companies Lllp now owns 990 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 453 shares during the period. 98.76% of the stock is owned by institutional investors and hedge funds.

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.