FormFactor (NASDAQ:FORM) Upgraded at Citigroup

FormFactor (NASDAQ:FORM) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday,Benzinga reports. The firm presently has a $51.00 target price on the semiconductor company’s stock, up from their previous target price of $44.00. Citigroup’s target price suggests a potential upside of 14.71% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Needham & Company LLC reduced their target price on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. TD Cowen decreased their price objective on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.00.

FormFactor Trading Up 0.5 %

Shares of FORM stock opened at $44.46 on Monday. FormFactor has a twelve month low of $37.21 and a twelve month high of $63.63. The stock’s fifty day simple moving average is $42.22 and its 200 day simple moving average is $47.09. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.44 billion, a P/E ratio of 25.55 and a beta of 1.12.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total transaction of $177,760.00. Following the completion of the sale, the chief executive officer now owns 522,531 shares of the company’s stock, valued at $23,221,277.64. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FORM. National Bank of Canada FI acquired a new position in shares of FormFactor during the second quarter valued at about $668,000. Arizona State Retirement System boosted its holdings in FormFactor by 1.5% in the second quarter. Arizona State Retirement System now owns 21,724 shares of the semiconductor company’s stock worth $1,315,000 after acquiring an additional 331 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in FormFactor in the second quarter valued at approximately $1,811,000. Quest Partners LLC acquired a new stake in FormFactor in the second quarter valued at approximately $374,000. Finally, Choreo LLC bought a new stake in shares of FormFactor during the second quarter valued at approximately $293,000. 98.76% of the stock is owned by institutional investors.

About FormFactor

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.