FormFactor (NASDAQ:FORM) Reaches New 1-Year High – Still a Buy?

FormFactor, Inc. (NASDAQ:FORM) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $68.85 and last traded at $68.9450, with a volume of 97684 shares. The stock had previously closed at $68.64.

Analyst Ratings Changes

Several brokerages have recently commented on FORM. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $31.00 to $62.00 in a report on Thursday, October 30th. Northland Securities set a $44.00 target price on FormFactor in a research report on Thursday, October 30th. Cowen reissued a “hold” rating on shares of FormFactor in a report on Thursday, October 30th. Zacks Research upgraded FormFactor from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, B. Riley increased their price objective on shares of FormFactor from $66.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $57.00.

FormFactor Trading Up 2.5%

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 company has a market cap of $5.46 billion, a price-to-earnings ratio of 135.34 and a beta of 1.12. The company’s fifty day moving average is $55.80 and its two-hundred day moving average is $42.29.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 39,606 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were 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 of the company’s stock, valued at $31,589,675. This trade represents a 7.54% decrease in their ownership of the stock. 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 business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $49.85, for a total transaction of $99,700.00. Following the transaction, the director owned 38,957 shares of the company’s stock, valued at $1,942,006.45. This represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,378 shares of company stock worth $3,678,088 over the last 90 days. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of FormFactor

A number of hedge funds have recently modified their holdings of FORM. State of Wyoming grew its holdings in FormFactor by 18.4% during the third quarter. State of Wyoming now owns 1,680 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 261 shares during the period. Arizona State Retirement System lifted its holdings in FormFactor by 1.5% in the third quarter. Arizona State Retirement System now owns 22,796 shares of the semiconductor company’s stock valued at $830,000 after acquiring an additional 335 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in FormFactor by 2.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,073 shares of the semiconductor company’s stock worth $897,000 after purchasing an additional 370 shares in the last quarter. Amalgamated Bank grew its stake in shares of FormFactor by 1.9% during the 3rd quarter. Amalgamated Bank now owns 22,420 shares of the semiconductor company’s stock worth $817,000 after purchasing an additional 411 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of FormFactor by 0.4% during the 3rd 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 period. Hedge funds and other institutional investors own 98.76% of the company’s stock.

FormFactor Company Profile

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.