FormFactor (NASDAQ:FORM) Raised to “Buy” at Citigroup

Citigroup upgraded shares of FormFactor (NASDAQ:FORM) from a neutral rating to a buy rating in a report published on Monday morning, Marketbeat Ratings reports. Citigroup currently has $51.00 price target on the semiconductor company’s stock, up from their prior price target of $44.00.

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

FormFactor Stock Performance

Shares of FormFactor stock opened at $46.12 on Monday. FormFactor has a 12 month low of $37.25 and a 12 month high of $63.63. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.57 billion, a PE ratio of 26.51 and a beta of 1.12. The stock’s fifty day simple moving average is $42.26 and its 200 day simple moving average is $47.01.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $40.59, for a total value of $162,360.00. Following the sale, the chief executive officer now owns 526,531 shares of the company’s stock, valued at approximately $21,371,893.29. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its holdings in shares of FormFactor by 99.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 309 shares during the last quarter. Quarry LP lifted its stake in FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 523 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of FormFactor in the 2nd quarter valued at about $43,000. CWM LLC increased its stake in shares of FormFactor by 57.3% during the 3rd quarter. CWM LLC now owns 2,867 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 1,044 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of FormFactor by 49.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,389 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 1,123 shares during the period. Institutional investors and hedge funds own 98.76% of the company’s stock.

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.