FormFactor (NASDAQ:FORM) Shares Gap Up – Here’s Why

FormFactor, Inc. (NASDAQ:FORM) shares gapped up before the market opened on Wednesday . The stock had previously closed at $39.82, but opened at $41.48. FormFactor shares last traded at $41.48, with a volume of 774 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FORM. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Needham & Company LLC decreased their price objective on FormFactor from $60.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, October 31st. DA Davidson lifted their target price on FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, TD Cowen reduced their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.38.

FormFactor Price Performance

The company has a 50 day moving average of $43.13 and a two-hundred day moving average of $49.68. The firm has a market cap of $3.02 billion, a P/E ratio of 22.33 and a beta of 1.12. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01.

Insider Activity at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $45.28, for a total value of $181,120.00. Following the completion of the transaction, the chief executive officer now owns 530,276 shares of the company’s stock, valued at approximately $24,010,897.28. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its position in shares of FormFactor by 99.4% in the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 309 shares in the last quarter. Innealta Capital LLC purchased a new stake in FormFactor in the 2nd quarter worth approximately $38,000. Redwood Wealth Management Group LLC acquired a new stake in shares of FormFactor during the 2nd quarter valued at $43,000. Quarry LP boosted its stake in shares of FormFactor by 131.7% during the 3rd quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 523 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of FormFactor during the 1st quarter valued at $70,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

FormFactor Company Profile

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.