FormFactor, Inc. (FORM) Given Average Recommendation of “Buy” by Brokerages
Shares of FormFactor, Inc. (NASDAQ:FORM) have received an average rating of “Buy” from the ten brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $17.43.
FORM has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of FormFactor in a research report on Thursday, June 22nd. B. Riley restated a “buy” rating and set a $17.00 target price on shares of FormFactor in a research report on Monday, June 26th. Zacks Investment Research cut shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub cut shares of FormFactor from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, DA Davidson restated a “buy” rating and set a $20.00 target price on shares of FormFactor in a research report on Thursday, August 31st.
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Shares of FormFactor (NASDAQ FORM) opened at 17.80 on Wednesday. The stock’s market cap is $1.29 billion. FormFactor has a 52 week low of $8.55 and a 52 week high of $17.85. The company’s 50-day moving average is $16.06 and its 200 day moving average is $13.79.
FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. The company had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $134.53 million. FormFactor had a negative net margin of 1.32% and a positive return on equity of 15.62%. The firm’s quarterly revenue was up 73.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. Analysts forecast that FormFactor will post $1.22 earnings per share for the current fiscal year.
In other news, Director Michael W. Zellner sold 3,725 shares of FormFactor stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $15.26, for a total transaction of $56,843.50. Following the completion of the sale, the director now directly owns 63,000 shares in the company, valued at $961,380. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael M. Ludwig sold 10,000 shares of FormFactor stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $14.07, for a total transaction of $140,700.00. Following the sale, the chief financial officer now owns 267,977 shares of the company’s stock, valued at $3,770,436.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,725 shares of company stock valued at $623,844. Insiders own 2.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its holdings in shares of FormFactor by 8,988.5% during the second quarter. BNP Paribas Arbitrage SA now owns 137,782 shares of the semiconductor company’s stock worth $1,708,000 after buying an additional 136,266 shares in the last quarter. Alpha Windward LLC purchased a new stake in shares of FormFactor during the second quarter worth about $418,000. Comerica Bank purchased a new stake in shares of FormFactor during the second quarter worth about $1,010,000. Insight Capital Research & Management Inc. purchased a new stake in shares of FormFactor during the second quarter worth about $368,000. Finally, Kennedy Capital Management Inc. grew its holdings in shares of FormFactor by 79.9% during the first quarter. Kennedy Capital Management Inc. now owns 597,655 shares of the semiconductor company’s stock worth $7,082,000 after buying an additional 265,415 shares in the last quarter. Institutional investors and hedge funds own 86.55% of the company’s stock.
FormFactor Company Profile
FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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