FormFactor (NASDAQ:FORM) Trading Up 6.2% Following Analyst Upgrade

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FormFactor, Inc. (NASDAQ:FORM) shot up 6.2% during trading on Thursday after Needham & Company LLC raised their price target on the stock from $45.00 to $54.00. Needham & Company LLC currently has a buy rating on the stock. FormFactor traded as high as $45.36 and last traded at $45.36. 4,633 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 338,491 shares. The stock had previously closed at $42.73.

In other FormFactor news, CEO Mike Slessor sold 25,000 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $44.60, for a total value of $1,115,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kelley Steven-Waiss sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $43.12, for a total value of $129,360.00. The disclosure for this sale can be found here. Insiders sold 31,374 shares of company stock valued at $1,392,074 in the last ninety days. Insiders own 0.94% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Knights of Columbus Asset Advisors LLC lifted its position in shares of FormFactor by 0.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 58,565 shares of the semiconductor company’s stock worth $2,186,000 after purchasing an additional 312 shares during the last quarter. First Bank & Trust lifted its position in shares of FormFactor by 5.7% during the 2nd quarter. First Bank & Trust now owns 6,772 shares of the semiconductor company’s stock worth $247,000 after purchasing an additional 368 shares during the last quarter. Cim LLC lifted its position in shares of FormFactor by 6.6% during the 3rd quarter. Cim LLC now owns 6,593 shares of the semiconductor company’s stock worth $293,000 after purchasing an additional 411 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of FormFactor by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,552 shares of the semiconductor company’s stock worth $1,588,000 after purchasing an additional 464 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in shares of FormFactor by 0.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 73,765 shares of the semiconductor company’s stock worth $2,689,000 after purchasing an additional 488 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

The company has a current ratio of 3.17, a quick ratio of 2.45 and a debt-to-equity ratio of 0.02. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 46.66 and a beta of 1.32. The firm has a 50-day moving average of $43.18 and a two-hundred day moving average of $39.03.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, October 27th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.10. FormFactor had a return on equity of 13.48% and a net margin of 10.15%. The business had revenue of $189.96 million during the quarter, compared to analysts’ expectations of $188.51 million. During the same quarter in the previous year, the firm earned $0.35 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts anticipate that FormFactor, Inc. will post 1.26 EPS for the current year.

About FormFactor (NASDAQ:FORM)

FormFactor, Inc engages in the provision of test and measurement solutions. It operates through the following segments: Probe Cards and Systems. The Probe Cards segment consists of technologies and product architectures, including micro-electromechanical systems technologies. The Systems segment comprises of analytical probe solutions for on-wafer probing, board test, and package test.

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