FormFactor (NASDAQ:FORM) Shares Up 6.8% - Still a Buy?

Shares of FormFactor, Inc. (NASDAQ:FORM - Get Free Report) rose 6.8% on Wednesday . The company traded as high as $47.28 and last traded at $46.87. Approximately 314,873 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 589,852 shares. The stock had previously closed at $43.87.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FORM. StockNews.com cut shares of FormFactor from a "buy" rating to a "hold" rating in a research report on Tuesday, August 27th. TD Cowen cut their target price on shares of FormFactor from $60.00 to $44.00 and set a "hold" rating on the stock in a report on Thursday, October 31st. Finally, Needham & Company LLC reduced their price objective on FormFactor from $60.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, FormFactor presently has a consensus rating of "Hold" and a consensus price target of $55.38.

FormFactor Stock Up 1.9 %

The firm has a 50-day moving average of $42.23 and a two-hundred day moving average of $48.11. The firm has a market capitalization of $3.46 billion, a PE ratio of 25.70 and a beta of 1.12. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01.

Insiders Place Their Bets

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $40.59, for a total transaction of $162,360.00. Following the transaction, the chief executive officer now directly owns 526,531 shares in the company, valued at $21,371,893.29. This represents a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of FormFactor

A number of institutional investors and hedge funds have recently modified their holdings of FORM. Franklin Resources Inc. grew its position in shares of FormFactor by 5.1% during the third quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company's stock worth $18,940,000 after acquiring an additional 18,810 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of FormFactor by 7.7% during 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 buying an additional 3,426 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of FormFactor by 3.7% during the third quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company's stock worth $95,105,000 after buying an additional 73,982 shares during the period. Barclays PLC grew its holdings in 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 buying an additional 113,296 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in FormFactor in the 3rd quarter valued at approximately $550,000. 98.76% of the stock is owned by institutional investors and hedge funds.

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.