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

Shares of FormFactor, Inc. (NASDAQ:FORM) gapped up before the market opened on Tuesday . The stock had previously closed at $49.05, but opened at $50.76. FormFactor shares last traded at $48.4640, with a volume of 85,228 shares traded.

Analysts Set New Price Targets

A number of brokerages recently commented on FORM. Cantor Fitzgerald initiated coverage on shares of FormFactor in a report on Tuesday. They set an “overweight” rating and a $75.00 price objective on the stock. Evercore ISI increased their target price on FormFactor from $31.00 to $50.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of FormFactor in a report on Wednesday, October 8th. Northland Securities set a $44.00 price objective on FormFactor in a report on Thursday, October 30th. Finally, DA Davidson set a $55.00 target price on FormFactor in a research report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.13.

FormFactor Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.34 and a current ratio of 4.24. The company has a fifty day moving average price of $42.02 and a two-hundred day moving average price of $35.52. The company has a market cap of $3.77 billion, a P/E ratio of 93.02 and a beta of 1.37.

Insider Buying and Selling

In related news, Director Kelley Steven-Waiss sold 3,600 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $30.43, for a total value of $109,548.00. Following the completion of the transaction, the director directly owned 35,479 shares of the company’s stock, valued at approximately $1,079,625.97. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis Thomas St sold 2,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $49.85, for a total transaction of $99,700.00. Following the transaction, the director owned 38,957 shares in the company, valued at approximately $1,942,006.45. The trade was a 4.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of FormFactor by 282.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 741 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 547 shares during the last quarter. Salomon & Ludwin LLC bought a new position in FormFactor during the third quarter worth about $25,000. AlphaQuest LLC grew its holdings in FormFactor by 96,900.0% during the first quarter. AlphaQuest LLC now owns 970 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 969 shares during the period. Jones Financial Companies Lllp increased its position in FormFactor by 84.4% during the third quarter. Jones Financial Companies Lllp now owns 990 shares of the semiconductor company’s stock worth $35,000 after buying an additional 453 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in FormFactor by 547.8% in the third quarter. Hantz Financial Services Inc. now owns 1,043 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 882 shares during the period. Institutional investors 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.