FormFactor (NASDAQ:FORM) Shares Gap Up – What’s Next?

FormFactor, Inc. (NASDAQ:FORM) gapped up prior to trading on Tuesday . The stock had previously closed at $49.05, but opened at $50.76. FormFactor shares last traded at $48.4640, with a volume of 85,228 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FORM shares. DA Davidson set a $55.00 target price on shares of FormFactor in a research note on Thursday, October 30th. Cantor Fitzgerald started coverage on FormFactor in a research note on Tuesday. They set an “overweight” rating and a $75.00 price objective for the company. Cowen reaffirmed a “hold” rating on shares of FormFactor in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of FormFactor in a research note on Wednesday, October 8th. Finally, Evercore ISI lifted their price objective on shares of FormFactor from $31.00 to $50.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, FormFactor presently has an average rating of “Hold” and a consensus target price of $53.13.

FormFactor Price Performance

The stock has a fifty day moving average of $42.83 and a two-hundred day moving average of $35.75. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 94.17 and a beta of 1.37. The company has a quick ratio of 3.34, a current ratio of 4.24 and a debt-to-equity ratio of 0.01.

Insider Transactions at FormFactor

In other news, Director Kelley Steven-Waiss sold 3,600 shares of FormFactor stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $30.43, for a total transaction of $109,548.00. Following the completion of the sale, the director directly owned 35,479 shares in the company, valued at approximately $1,079,625.97. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mike Slessor sold 8,403 shares of FormFactor stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $50.06, for a total transaction of $420,654.18. Following the transaction, the chief executive officer owned 533,270 shares of the company’s stock, valued at approximately $26,695,496.20. The trade was a 1.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,003 shares of company stock valued at $629,902 in the last ninety days. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORM. CANADA LIFE ASSURANCE Co grew its position in shares of FormFactor by 8.8% in the third quarter. CANADA LIFE ASSURANCE Co now owns 94,535 shares of the semiconductor company’s stock valued at $3,423,000 after purchasing an additional 7,650 shares during the period. Voleon Capital Management LP acquired a new position in shares of FormFactor in the 3rd quarter valued at $935,000. Voloridge Investment Management LLC grew its stake in shares of FormFactor by 13.7% during the 3rd quarter. Voloridge Investment Management LLC now owns 388,449 shares of the semiconductor company’s stock valued at $14,147,000 after buying an additional 46,911 shares during the period. Wexford Capital LP acquired a new stake in FormFactor during the 3rd quarter worth approximately $100,000. Finally, Sora Investors LLC boosted its position in FormFactor by 1.2% during the 3rd quarter. Sora Investors LLC now owns 113,538 shares of the semiconductor company’s stock worth $4,135,000 after purchasing an additional 1,384 shares during the period. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

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.