FormFactor Inc. (FORM) Given Consensus Recommendation of “Buy” by Brokerages
Shares of FormFactor Inc. (NASDAQ:FORM) have earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $12.60.
Several equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price (up previously from $11.00) on shares of FormFactor in a research note on Wednesday, August 3rd. B. Riley reiterated a “buy” rating and issued a $13.00 target price on shares of FormFactor in a research note on Wednesday, August 3rd. Stifel Nicolaus upgraded shares of FormFactor from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of FormFactor from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Thursday, June 30th. Finally, Craig Hallum assumed coverage on shares of FormFactor in a research note on Thursday, September 22nd. They issued a “buy” rating and a $14.00 target price for the company.
FormFactor (NASDAQ:FORM) opened at 10.25 on Thursday. The firm has a market capitalization of $723.29 million, a P/E ratio of 30.42 and a beta of 0.95. FormFactor has a 12 month low of $6.15 and a 12 month high of $11.19. The stock’s 50 day moving average price is $10.33 and its 200 day moving average price is $8.94.
FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. FormFactor had a net margin of 7.27% and a return on equity of 0.11%. The company earned $83.10 million during the quarter, compared to analysts’ expectations of $78.23 million. During the same period in the prior year, the company earned $0.11 earnings per share. The business’s quarterly revenue was up 55.0% compared to the same quarter last year. On average, analysts forecast that FormFactor will post $0.45 earnings per share for the current year.
In related news, Director Richard Delateur sold 10,000 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $10.74, for a total value of $107,400.00. Following the completion of the transaction, the director now owns 22,000 shares of the company’s stock, valued at $236,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis Thomas St sold 23,120 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $10.51, for a total transaction of $242,991.20. Following the completion of the transaction, the director now directly owns 164,933 shares of the company’s stock, valued at approximately $1,733,445.83. The disclosure for this sale can be found here. 2.84% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FORM. Wellington Management Group LLP acquired a new position in FormFactor during the first quarter valued at about $9,595,000. Dimensional Fund Advisors LP raised its stake in FormFactor by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,999,711 shares of the company’s stock valued at $44,947,000 after buying an additional 923,309 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in FormFactor during the second quarter valued at $7,495,000. Emerald Acquisition Ltd. purchased a new stake in FormFactor during the second quarter valued at $7,493,000. Finally, Vanguard Group Inc. raised its stake in FormFactor by 19.2% in the second quarter. Vanguard Group Inc. now owns 4,995,618 shares of the company’s stock valued at $44,911,000 after buying an additional 803,484 shares during the last quarter. 89.43% of the stock is owned by hedge funds and other institutional investors.
FormFactor Company Profile
FormFactor, Inc designs, develops, manufactures, sells and supports semiconductor probe card products. The Company is a supplier of probe cards to the manufacturers of dynamic random-access memory (DRAM), flash memory devices, microprocessor, chipset and other system on chip (SoC) devices. Semiconductor manufacturers use its probe cards to perform wafer test, which is the testing of the semiconductor die, or chips.
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