FormFactor (NASDAQ:FORM) Stock Jumps 9.7% – What’s Next?

FormFactor, Inc. (NASDAQ:FORM) shares shot up 9.7% during trading on Tuesday. The stock traded as high as $96.28 and last traded at $95.8010. 155,800 shares changed hands during trading, a decline of 91% from the average daily volume of 1,650,293 shares. The stock had previously closed at $87.30.

Analysts Set New Price Targets

FORM has been the subject of a number of research reports. B. Riley Financial reissued a “buy” rating on shares of FormFactor in a research note on Monday, October 19th. Stifel Nicolaus set a $115.00 price objective on FormFactor in a report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft assumed coverage on FormFactor in a research report on Wednesday, September 30th. They set a “buy” rating and a $200.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of FormFactor in a report on Tuesday, September 22nd. Finally, TD Cowen boosted their price target on shares of FormFactor from $100.00 to $110.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $139.73.

FormFactor Trading Up 9.4%

The company has a market capitalization of $7.44 billion, a PE ratio of 43.51 and a beta of 1.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.08 and a quick ratio of 3.34. The company’s fifty day moving average is $115.71 and its 200-day moving average is $113.50.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.86 by $0.18. FormFactor had a net margin of 17.72% and a return on equity of 18.88%. The firm had revenue of $280.55 million during the quarter, compared to analyst estimates of $270.52 million. During the same quarter in the previous year, the business posted $0.33 EPS. FormFactor’s revenue was up 38.4% on a year-over-year basis. On average, analysts anticipate that FormFactor, Inc. will post 2.95 EPS for the current fiscal year.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 11,098 shares of the business’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $125.20, for a total transaction of $1,389,469.60. Following the sale, the chief executive officer owned 455,596 shares in the company, valued at approximately $57,040,619.20. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kelley Steven-Waiss sold 2,100 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $96.10, for a total transaction of $201,810.00. Following the transaction, the director owned 24,426 shares in the company, valued at approximately $2,347,338.60. This trade represents a 7.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 46,710 shares of company stock worth $5,520,564 in the last 90 days. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. purchased a new position in FormFactor in the 3rd quarter worth $842,000. Calamos Advisors LLC purchased a new stake in FormFactor during the 3rd quarter valued at about $205,000. Commonwealth Equity Services LLC grew its stake in FormFactor by 8.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,130 shares of the semiconductor company’s stock valued at $915,000 after purchasing an additional 474 shares during the last quarter. Integrity Alliance LLC. acquired a new position in FormFactor in the 3rd quarter worth approximately $393,000. Finally, IPG Investment Advisors LLC acquired a new position in FormFactor during the third quarter valued at $221,000. 98.76% of the stock is currently owned by institutional investors and hedge funds.

FormFactor Company Profile

FormFactor, Inc is a semiconductor test and measurement company that designs and manufactures equipment and components used to evaluate integrated circuits during the wafer fabrication and production process. Its products help semiconductor manufacturers and suppliers measure electrical performance, identify defects and improve the development and manufacturing of advanced chips.

The company’s portfolio includes probe cards used for wafer-level testing, as well as probe stations, analytical systems and related accessories for semiconductor engineering and production applications.