FormFactor (NASDAQ:FORM) Shares Gap Up – Should You Buy?

FormFactor, Inc. (NASDAQ:FORM) shares gapped up before the market opened on Thursday . The stock had previously closed at $71.99, but opened at $75.90. FormFactor shares last traded at $76.3750, with a volume of 154,585 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $31.00 to $62.00 in a research note on Thursday, October 30th. DA Davidson set a $55.00 price objective on shares of FormFactor in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. B. Riley reiterated a “buy” rating on shares of FormFactor in a report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of FormFactor in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.88.

FormFactor Stock Performance

The firm has a market capitalization of $5.86 billion, a PE ratio of 145.82 and a beta of 1.12. The business has a 50-day simple moving average of $56.89 and a 200-day simple moving average of $43.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.30 and a quick ratio of 3.46.

Insider Buying and Selling

In other news, Director Kelley Steven-Waiss sold 2,700 shares of FormFactor stock in a transaction 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 sale, the director directly owned 32,779 shares in the company, valued at approximately $1,834,640.63. This trade represents a 7.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mike Slessor sold 39,606 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $65.00, for a total transaction of $2,574,390.00. Following the completion of the transaction, the chief executive officer owned 485,995 shares in the company, valued at approximately $31,589,675. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 60,378 shares of company stock valued at $3,678,088. Company insiders own 0.90% of the company’s stock.

Institutional Trading of FormFactor

A number of hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of FormFactor by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,072 shares of the semiconductor company’s stock valued at $1,303,000 after purchasing an additional 2,001 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in FormFactor by 870.3% during the first quarter. Jones Financial Companies Lllp now owns 5,288 shares of the semiconductor company’s stock worth $150,000 after buying an additional 4,743 shares during the period. Goldman Sachs Group Inc. boosted its position in FormFactor by 12.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 490,394 shares of the semiconductor company’s stock valued at $13,873,000 after acquiring an additional 53,310 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in FormFactor by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,979 shares of the semiconductor company’s stock valued at $4,922,000 after acquiring an additional 9,394 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of FormFactor by 18.1% in the 1st quarter. Intech Investment Management LLC now owns 53,531 shares of the semiconductor company’s stock valued at $1,514,000 after acquiring an additional 8,194 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.

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.