FormFactor (NASDAQ:FORM) Raised to "Buy" at Citigroup

Citigroup upgraded shares of FormFactor (NASDAQ:FORM - Free Report) from a neutral rating to a buy rating in a research report released on Monday morning, Marketbeat reports. Citigroup currently has $51.00 price objective on the semiconductor company's stock, up from their previous price objective of $44.00.

FORM has been the subject of a number of other reports. TD Cowen dropped 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. 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. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $56.00.

FormFactor Trading Up 3.7 %

NASDAQ FORM traded up $1.66 during trading hours on Monday, hitting $46.12. 1,000,975 shares of the company's stock were exchanged, compared to its average volume of 909,870. 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 market capitalization of $3.57 billion, a P/E ratio of 26.51 and a beta of 1.12. The business's 50 day moving average is $42.22 and its 200-day moving average is $47.09. FormFactor has a 12-month low of $37.25 and a 12-month high of $63.63.

Insider Activity

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $40.59, for a total value of $162,360.00. Following the completion of the transaction, the chief executive officer now directly owns 526,531 shares of the company's stock, valued at $21,371,893.29. This represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.96% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in shares of FormFactor by 5.1% in the 3rd quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company's stock valued at $18,940,000 after purchasing an additional 18,810 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in FormFactor by 7.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 47,821 shares of the semiconductor company's stock valued at $2,200,000 after acquiring an additional 3,426 shares in the last quarter. Geode Capital Management LLC grew its holdings in FormFactor by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company's stock worth $95,105,000 after acquiring an additional 73,982 shares in the last quarter. Barclays PLC increased its position in shares of FormFactor by 351.9% in the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company's stock worth $6,692,000 after purchasing an additional 113,296 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of FormFactor in the 3rd quarter valued at about $550,000. 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.