Insider Selling: FormFactor (NASDAQ:FORM) CEO Sells 8,403 Shares of Stock

FormFactor, Inc. (NASDAQ:FORM) CEO Mike Slessor sold 8,403 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $50.06, for a total transaction of $420,654.18. Following the transaction, the chief executive officer owned 533,270 shares of the company’s stock, valued at approximately $26,695,496.20. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

FormFactor Stock Up 3.6%

NASDAQ FORM traded up $1.74 on Wednesday, hitting $50.42. The stock had a trading volume of 613,641 shares, compared to its average volume of 896,939. The business’s fifty day moving average price is $42.83 and its 200 day moving average price is $35.75. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 96.96 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.24 and a quick ratio of 3.34. FormFactor, Inc. has a 52-week low of $22.58 and a 52-week high of $61.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FORM shares. DA Davidson set a $55.00 price target on FormFactor in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Cowen reaffirmed a “hold” rating on shares of FormFactor in a research report on Thursday, October 30th. Evercore ISI boosted their target price on shares of FormFactor from $31.00 to $50.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Finally, Stifel Nicolaus set a $42.00 price target on shares of FormFactor in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, FormFactor has an average rating of “Hold” and a consensus price target of $53.13.

Institutional Trading of FormFactor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in FormFactor by 170.2% during the second quarter. Bank of New York Mellon Corp now owns 2,094,421 shares of the semiconductor company’s stock valued at $72,069,000 after buying an additional 1,319,345 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of FormFactor during the 3rd quarter worth about $37,391,000. Shannon River Fund Management LLC acquired a new stake in shares of FormFactor during the 3rd quarter valued at about $35,260,000. Reinhart Partners LLC. grew its position in shares of FormFactor by 64.8% during the 2nd quarter. Reinhart Partners LLC. now owns 1,904,698 shares of the semiconductor company’s stock valued at $65,541,000 after acquiring an additional 749,088 shares during the period. Finally, Channing Capital Management LLC purchased a new position in shares of FormFactor in the 3rd quarter valued at about $16,909,000. 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.