FormFactor (NASDAQ:FORM) Stock Rating Raised to “Strong-Buy” at Freedom Capital

Freedom Capital upgraded shares of FormFactor (NASDAQ:FORM) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks reports.

Several other research analysts have also commented on FORM. Cantor Fitzgerald restated an “overweight” rating on shares of FormFactor in a research note on Tuesday, September 22nd. Stifel Nicolaus set a $115.00 price objective on FormFactor in a research note on Tuesday, October 13th. Weiss Ratings upgraded shares of FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Zacks Research lowered shares of FormFactor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on FormFactor in a research report on Wednesday, September 30th. They issued a “buy” rating and a $200.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, FormFactor has a consensus rating of “Moderate Buy” and an average target price of $139.73.

FormFactor Stock Performance

Shares of FORM stock opened at $96.79 on Monday. FormFactor has a fifty-two week low of $47.33 and a fifty-two week high of $160.27. The stock’s 50-day moving average is $115.48 and its two-hundred day moving average is $113.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.02. The firm has a market cap of $7.55 billion, a P/E ratio of 44.20 and a beta of 1.27.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.18. FormFactor had a return on equity of 18.40% and a net margin of 17.72%. The business had revenue of $280.55 million during the quarter, compared to analyst estimates of $270.52 million. During the same period in the previous year, the company earned $0.33 EPS. The firm’s revenue was up 38.4% on a year-over-year basis. Analysts predict that FormFactor will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 11,098 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $125.20, for a total transaction of $1,389,469.60. Following the transaction, the chief executive officer owned 455,596 shares in the company, valued at approximately $57,040,619.20. The trade was a 2.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kelley Steven-Waiss sold 2,100 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $96.10, for a total transaction of $201,810.00. Following the transaction, the director directly owned 24,426 shares of the company’s stock, valued at $2,347,338.60. This represents a 7.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,710 shares of company stock worth $5,520,564 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several institutional investors and hedge funds have recently added to or reduced their stakes in FORM. NorthCrest Asset Manangement LLC raised its position in FormFactor by 0.5% in the third quarter. NorthCrest Asset Manangement LLC now owns 18,442 shares of the semiconductor company’s stock worth $2,529,000 after purchasing an additional 89 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in FormFactor by 96.1% during the third quarter. V Square Quantitative Management LLC now owns 253 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 124 shares during the period. Mirador Capital Partners LP lifted its stake in FormFactor by 0.8% during the third quarter. Mirador Capital Partners LP now owns 18,089 shares of the semiconductor company’s stock worth $2,701,000 after purchasing an additional 145 shares during the period. Keating Financial Advisory Services Inc. acquired a new stake in FormFactor during the second quarter valued at approximately $25,000. Finally, Brighton Jones LLC boosted its holdings in FormFactor by 12.5% during the third quarter. Brighton Jones LLC now owns 1,439 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 160 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

About FormFactor

FormFactor, Inc is a semiconductor test and measurement company that designs and manufactures equipment and components used to evaluate integrated circuits during the wafer fabrication and production process. Its products help semiconductor manufacturers and suppliers measure electrical performance, identify defects and improve the development and manufacturing of advanced chips.

The company’s portfolio includes probe cards used for wafer-level testing, as well as probe stations, analytical systems and related accessories for semiconductor engineering and production applications.