FormFactor (NASDAQ:FORM) Raised to Buy at Citigroup

FormFactor (NASDAQ:FORM) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has a $51.00 price target on the semiconductor company’s stock, up from their previous price target of $44.00. Citigroup’s target price would suggest a potential upside of 7.96% from the company’s current price.

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

FormFactor Price Performance

FormFactor stock opened at $47.24 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 27.15 and a beta of 1.08. The company’s 50 day simple moving average is $42.30 and its 200-day simple moving average is $46.94. FormFactor has a 1 year low of $37.25 and a 1 year high of $63.63.

Insider Buying and Selling

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total transaction of $177,760.00. Following the completion of the transaction, the chief executive officer now owns 522,531 shares in the company, valued at $23,221,277.64. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

A number of institutional investors and hedge funds have recently modified their holdings of the company. Algert Global LLC lifted its holdings in FormFactor by 134.4% during the 3rd quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company’s stock worth $2,440,000 after buying an additional 30,410 shares during the last quarter. FMR LLC lifted its stake in FormFactor by 1,255.5% during the third quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock worth $5,356,000 after purchasing an additional 107,837 shares during the last quarter. Citigroup Inc. boosted its holdings in FormFactor by 59.4% in the third quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company’s stock valued at $4,867,000 after purchasing an additional 39,419 shares in the last quarter. Intech Investment Management LLC purchased a new position in FormFactor in the third quarter valued at approximately $818,000. Finally, Barclays PLC raised its holdings in FormFactor by 351.9% during the third quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock worth $6,692,000 after purchasing an additional 113,296 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

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.