FormFactor, Inc. (FORM) Rating Reiterated by Needham & Company LLC
FormFactor, Inc. (NASDAQ:FORM)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Wednesday. They presently have a $13.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 15.56% from the stock’s previous close.
Several other analysts have also recently commented on FORM. B. Riley restated a “buy” rating and issued a $12.50 target price on shares of FormFactor in a research report on Wednesday, November 2nd. TheStreet upgraded FormFactor from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Citigroup Inc. raised their target price on FormFactor from $8.25 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded FormFactor from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, November 2nd. Finally, Stifel Nicolaus upgraded FormFactor from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. FormFactor presently has an average rating of “Buy” and a consensus target price of $12.08.
Shares of FormFactor (NASDAQ:FORM) opened at 11.25 on Wednesday. FormFactor has a 52-week low of $6.15 and a 52-week high of $11.55. The stock has a market capitalization of $795.93 million, a P/E ratio of 83.96 and a beta of 1.32. The firm’s 50-day moving average price is $10.25 and its 200-day moving average price is $9.48.
FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $123.30 million for the quarter, compared to analysts’ expectations of $122.70 million. FormFactor had a return on equity of 3.95% and a net margin of 2.49%. The business’s quarterly revenue was up 87.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. Equities analysts forecast that FormFactor will post $0.44 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System raised its position in shares of FormFactor by 131.4% in the second quarter. California Public Employees Retirement System now owns 48,592 shares of the company’s stock worth $437,000 after buying an additional 27,592 shares during the last quarter. Nationwide Fund Advisors raised its stake 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 in the last quarter. State Board of Administration of Florida Retirement System raised its stake 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 in the last quarter. Boothbay Fund Management LLC bought a new stake in FormFactor during the first quarter valued at $106,000. Finally, Hood River Capital Management LLC bought a new stake in FormFactor during the second quarter valued at $5,946,000. 87.47% of the stock is owned by hedge funds and other institutional investors.
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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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