FormFactor (NASDAQ:FORM) Hits New 52-Week High on Analyst Upgrade

FormFactor, Inc. (NASDAQ:FORM - Get Free Report) hit a new 52-week high on Monday after B. Riley raised their price target on the stock from $54.00 to $65.00. B. Riley currently has a buy rating on the stock. FormFactor traded as high as $57.63 and last traded at $57.39, with a volume of 190515 shares. The stock had previously closed at $55.71.

A number of other analysts have also recently weighed in on the company. Citigroup raised their price target on FormFactor from $37.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, May 2nd. TheStreet raised FormFactor from a "c" rating to a "b-" rating in a report on Thursday, February 8th. TD Cowen increased their price target on shares of FormFactor from $37.00 to $48.00 and gave the company a "hold" rating in a research note on Thursday, May 2nd. Evercore ISI assumed coverage on shares of FormFactor in a research report on Tuesday, April 16th. They set an "in-line" rating and a $50.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on shares of FormFactor from $36.00 to $42.00 and gave the company a "hold" rating in a report on Tuesday, April 30th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $48.40.

Insider Buying and Selling at FormFactor

In other news, Director Sheri Rhodes sold 13,319 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total transaction of $746,130.38. Following the completion of the sale, the director now owns 7,634 shares in the company, valued at $427,656.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Sheri Rhodes sold 13,319 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $56.02, for a total transaction of $746,130.38. Following the completion of the sale, the director now owns 7,634 shares in the company, valued at $427,656.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Thomas St sold 2,000 shares of FormFactor stock in a transaction on Friday, May 10th. The shares were sold at an average price of $56.30, for a total transaction of $112,600.00. Following the completion of the transaction, the director now owns 36,701 shares in the company, valued at $2,066,266.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,413 shares of company stock worth $2,175,912. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of FormFactor by 81.1% during the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company's stock worth $80,387,000 after purchasing an additional 862,885 shares in the last quarter. Norges Bank acquired a new position in FormFactor during the fourth quarter worth about $21,454,000. TimesSquare Capital Management LLC purchased a new position in FormFactor in the fourth quarter valued at about $15,484,000. Sora Investors LLC acquired a new stake in shares of FormFactor during the 3rd quarter valued at approximately $7,862,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of FormFactor by 124.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 405,695 shares of the semiconductor company's stock worth $14,175,000 after acquiring an additional 224,799 shares in the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

FormFactor Trading Up 3.3 %

The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 43.60 and a beta of 1.15. The business has a fifty day moving average of $46.99 and a two-hundred day moving average of $42.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 4.51.

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.