Insider Selling: FormFactor, Inc. (FORM) CFO Sells $140,700.00 in Stock
FormFactor, Inc. (NASDAQ:FORM) CFO Michael M. Ludwig sold 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $14.07, for a total transaction of $140,700.00. Following the completion of the sale, the chief financial officer now directly owns 267,977 shares in the company, valued at approximately $3,770,436.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
FormFactor, Inc. (FORM) opened at 14.30 on Friday. The firm’s 50-day moving average is $13.47 and its 200 day moving average is $12.63. FormFactor, Inc. has a 1-year low of $8.55 and a 1-year high of $15.58. The firm’s market cap is $1.04 billion.
FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.12. FormFactor had a positive return on equity of 15.62% and a negative net margin of 1.32%. The firm had revenue of $144 million for the quarter, compared to analyst estimates of $134.53 million. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue for the quarter was up 73.3% on a year-over-year basis. On average, equities analysts forecast that FormFactor, Inc. will post $1.22 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of FormFactor during the fourth quarter worth approximately $8,524,000. Teachers Advisors LLC raised its stake in shares of FormFactor by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 113,009 shares of the semiconductor company’s stock worth $1,266,000 after buying an additional 2,273 shares during the last quarter. Bank of Montreal Can raised its stake in shares of FormFactor by 4.9% in the first quarter. Bank of Montreal Can now owns 19,378 shares of the semiconductor company’s stock worth $229,000 after buying an additional 901 shares during the last quarter. Columbus Circle Investors purchased a new stake in shares of FormFactor during the first quarter worth approximately $1,317,000. Finally, Fisher Asset Management LLC raised its stake in shares of FormFactor by 50.7% in the first quarter. Fisher Asset Management LLC now owns 286,532 shares of the semiconductor company’s stock worth $3,395,000 after buying an additional 96,336 shares during the last quarter. 89.20% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on FORM. B. Riley reaffirmed a “buy” rating and issued a $17.00 price objective on shares of FormFactor in a report on Saturday, July 1st. Zacks Investment Research raised shares of FormFactor from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of FormFactor in a research note on Monday, May 1st. TheStreet raised shares of FormFactor from a “c+” rating to a “b-” rating in a research note on Thursday, May 11th. Finally, BidaskClub cut shares of FormFactor from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $16.38.
FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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