FormFactor Inc. (FORM) Receives Consensus Rating of “Buy” from Analysts
FormFactor Inc. (NASDAQ:FORM) has earned an average recommendation of “Buy” from the seven analysts that are currently covering the stock. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $12.08.
FORM has been the subject of a number of research analyst reports. Zacks Investment Research lowered FormFactor from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 4th. Craig Hallum initiated coverage on FormFactor in a report on Thursday, September 22nd. They issued a “buy” rating and a $14.00 target price for the company. TheStreet lowered FormFactor from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Citigroup Inc. lifted their target price on FormFactor from $8.25 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price (up previously from $11.00) on shares of FormFactor in a report on Wednesday, August 3rd.
FormFactor (NASDAQ:FORM) traded up 3.20% on Thursday, reaching $11.30. The company’s stock had a trading volume of 360,546 shares. The stock has a market cap of $799.48 billion, a PE ratio of 59.47 and a beta of 1.32. FormFactor has a 12-month low of $6.15 and a 12-month high of $11.35. The company’s 50 day moving average price is $10.18 and its 200-day moving average price is $9.32.
FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. FormFactor had a return on equity of 3.95% and a net margin of 2.49%. The company earned $123.30 million during the quarter, compared to analyst estimates of $122.70 million. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 87.2% on a year-over-year basis. On average, equities analysts expect that FormFactor will post $0.44 EPS for the current year.
In other news, Director Richard Delateur sold 10,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $10.74, for a total value of $107,400.00. Following the transaction, the director now directly owns 22,000 shares in the company, valued at approximately $236,280. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.84% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its position in FormFactor by 29.2% in the second quarter. Nationwide Fund Advisors now owns 185,497 shares of the company’s stock valued at $1,668,000 after buying an additional 41,873 shares during the period. California Public Employees Retirement System increased its position in FormFactor by 131.4% in the second quarter. California Public Employees Retirement System now owns 48,592 shares of the company’s stock valued at $437,000 after buying an additional 27,592 shares during the period. State Board of Administration of Florida Retirement System increased its position in FormFactor by 5.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 65,911 shares of the company’s stock valued at $593,000 after buying an additional 3,357 shares during the period. Boothbay Fund Management LLC bought a new position in FormFactor during the first quarter valued at $106,000. Finally, Hood River Capital Management LLC bought a new position in FormFactor during the second quarter valued at $5,946,000. Hedge funds and other institutional investors own 88.80% of the company’s stock.
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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