FormFactor (NASDAQ:FORM) Shares Gap Up – Still a Buy?

Shares of FormFactor, Inc. (NASDAQ:FORM) gapped up before the market opened on Wednesday . The stock had previously closed at $39.82, but opened at $41.48. FormFactor shares last traded at $41.48, with a volume of 774 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. DA Davidson increased their target price on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. TD Cowen cut their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Finally, Needham & Company LLC reduced their price target on FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, FormFactor currently has an average rating of “Hold” and an average price target of $55.38.

FormFactor Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76. The firm has a fifty day simple moving average of $43.06 and a 200 day simple moving average of $49.60. The company has a market capitalization of $3.04 billion, a PE ratio of 22.59 and a beta of 1.12.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $45.28, for a total transaction of $181,120.00. Following the transaction, the chief executive officer now directly owns 530,276 shares in the company, valued at approximately $24,010,897.28. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of FormFactor

Hedge funds have recently bought and sold shares of the stock. Algert Global LLC raised its position in shares of FormFactor by 134.4% in the 3rd quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company’s stock worth $2,440,000 after acquiring an additional 30,410 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of FormFactor by 90.7% during the second quarter. Harbor Capital Advisors Inc. now owns 34,362 shares of the semiconductor company’s stock valued at $2,080,000 after buying an additional 16,341 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of FormFactor in the 2nd quarter valued at about $1,811,000. New York State Common Retirement Fund grew its position in shares of FormFactor by 876.0% in the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock worth $14,876,000 after buying an additional 290,254 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of FormFactor during the 2nd quarter worth approximately $15,893,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.