FormFactor (NASDAQ:FORM) Rating Increased to Strong-Buy at BidaskClub
Several other research firms have also weighed in on FORM. Needham & Company LLC began coverage on FormFactor in a research note on Monday, June 10th. They set a buy rating and a $19.00 price objective for the company. Stifel Nicolaus raised their price objective on FormFactor from $20.00 to $21.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research lowered FormFactor from a hold rating to a sell rating and set a $19.00 price objective for the company. in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. FormFactor has a consensus rating of Buy and an average price target of $18.71.
Shares of NASDAQ FORM opened at $19.35 on Friday. The firm has a market cap of $1.45 billion, a P/E ratio of 26.45 and a beta of 1.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.57 and a current ratio of 3.38. The stock has a fifty day moving average price of $17.46 and a two-hundred day moving average price of $16.44. FormFactor has a 1 year low of $11.38 and a 1 year high of $19.90.
In other news, Director Dennis Thomas St sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $17.26, for a total value of $51,780.00. Following the completion of the sale, the director now owns 51,000 shares of the company’s stock, valued at $880,260. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mike Slessor sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $17.03, for a total value of $425,750.00. Following the completion of the sale, the chief executive officer now directly owns 376,599 shares of the company’s stock, valued at approximately $6,413,480.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,035 shares of company stock valued at $1,157,523. Corporate insiders own 1.88% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp acquired a new stake in shares of FormFactor in the second quarter worth $167,000. United Services Automobile Association boosted its position in shares of FormFactor by 43.9% in the second quarter. United Services Automobile Association now owns 16,954 shares of the semiconductor company’s stock worth $266,000 after buying an additional 5,172 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of FormFactor in the second quarter worth $8,054,000. Victory Capital Management Inc. boosted its position in shares of FormFactor by 1.5% in the second quarter. Victory Capital Management Inc. now owns 1,986,436 shares of the semiconductor company’s stock worth $31,127,000 after buying an additional 29,759 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of FormFactor by 14.1% in the second quarter. UBS Asset Management Americas Inc. now owns 42,292 shares of the semiconductor company’s stock worth $663,000 after buying an additional 5,232 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.
FormFactor Company Profile
FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and Systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.
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