FormFactor (NASDAQ:FORM) Sets New 12-Month High at $61.34

FormFactor, Inc. (NASDAQ:FORM)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $61.34 and last traded at $61.24, with a volume of 41539 shares trading hands. The stock had previously closed at $59.63.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Evercore ISI initiated coverage on shares of FormFactor in a research note on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price objective for the company. Citigroup upped their target price on shares of FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. TD Cowen increased their price target on shares of FormFactor from $37.00 to $48.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Finally, Craig Hallum increased their price target on shares of FormFactor from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, FormFactor has an average rating of “Hold” and an average target price of $49.30.

FormFactor Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.51 and a quick ratio of 3.67. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 45.86 and a beta of 1.11. The business’s 50-day simple moving average is $54.58 and its two-hundred day simple moving average is $46.45.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). The business had revenue of $168.73 million for the quarter, compared to the consensus estimate of $165.45 million. FormFactor had a net margin of 15.48% and a return on equity of 2.29%. Research analysts expect that FormFactor, Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $43.75, for a total value of $175,000.00. Following the completion of the sale, the chief executive officer now directly owns 491,781 shares of the company’s stock, valued at $21,515,418.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other FormFactor news, Director Sheri Rhodes sold 13,319 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total value of $746,130.38. Following the completion of the sale, the director now directly owns 7,634 shares of the company’s stock, valued at approximately $427,656.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $43.75, for a total transaction of $175,000.00. Following the completion of the sale, the chief executive officer now directly owns 491,781 shares of the company’s stock, valued at $21,515,418.75. The disclosure for this sale can be found here. Insiders sold 37,536 shares of company stock valued at $2,023,154 over the last quarter. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

A number of institutional investors have recently added to or reduced their stakes in FORM. Wellington Management Group LLP grew its position in FormFactor by 81.1% in the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after purchasing an additional 862,885 shares in the last quarter. Norges Bank bought a new position in shares of FormFactor during the 4th quarter valued at approximately $21,454,000. TimesSquare Capital Management LLC bought a new position in shares of FormFactor during the 4th quarter valued at approximately $15,484,000. Vanguard Group Inc. grew its position in shares of FormFactor by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock valued at $341,007,000 after acquiring an additional 224,599 shares during the period. Finally, Sei Investments Co. grew its position in shares of FormFactor by 15.4% during the 3rd quarter. Sei Investments Co. now owns 1,286,351 shares of the semiconductor company’s stock valued at $44,945,000 after acquiring an additional 171,712 shares during the period. 98.76% of the stock is owned by institutional investors.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.