FormFactor (NASDAQ:FORM) Upgraded at Citigroup

Citigroup upgraded shares of FormFactor (NASDAQ:FORM) from a neutral rating to a buy rating in a research note released on Monday morning, Marketbeat reports. The brokerage currently has $51.00 price objective on the semiconductor company’s stock, up from their previous price objective of $44.00.

FORM has been the subject of several other research reports. Needham & Company LLC lowered their price target on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. TD Cowen lowered their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

FormFactor Stock Performance

FORM stock opened at $44.11 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94. FormFactor has a 1-year low of $37.25 and a 1-year high of $63.63. The business has a 50-day moving average price of $42.31 and a 200 day moving average price of $46.92. The company has a market capitalization of $3.42 billion, a P/E ratio of 25.35 and a beta of 1.08.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the sale, the chief executive officer now owns 522,531 shares in the company, valued at approximately $23,221,277.64. The trade was a 0.76 % 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. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in shares of FormFactor by 5.1% in the third quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company’s stock worth $18,940,000 after buying an additional 18,810 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in FormFactor by 7.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 47,821 shares of the semiconductor company’s stock worth $2,200,000 after acquiring an additional 3,426 shares during the period. Geode Capital Management LLC lifted its position in FormFactor by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock worth $95,105,000 after acquiring an additional 73,982 shares during the period. Barclays PLC grew its stake in FormFactor by 351.9% during the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after purchasing an additional 113,296 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of FormFactor in the third quarter valued at about $550,000. 98.76% of the stock is currently owned by institutional investors and hedge funds.

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.