FormFactor (NASDAQ:FORM) Price Target Raised to $53.00

FormFactor (NASDAQ:FORM) had its price objective increased by Needham & Company LLC from $46.00 to $53.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 20.48% from the company’s current price.

Several other research firms have also recently weighed in on FORM. Evercore ISI started coverage on FormFactor in a report on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 price objective for the company. StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Stifel Nicolaus lifted their price target on shares of FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday. TheStreet upgraded shares of FormFactor from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Finally, TD Cowen lifted their target price on shares of FormFactor from $37.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.33.

FormFactor Trading Down 1.3 %

NASDAQ:FORM opened at $43.99 on Thursday. The firm has a market capitalization of $3.41 billion, a P/E ratio of 41.50 and a beta of 1.15. The company has a quick ratio of 3.52, a current ratio of 4.38 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $43.80 and a 200 day moving average of $40.34. FormFactor has a 52 week low of $24.88 and a 52 week high of $47.94.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $168.16 million during the quarter, compared to the consensus estimate of $165.49 million. FormFactor had a net margin of 12.42% and a return on equity of 2.43%. On average, research analysts predict that FormFactor will post 0.63 earnings per share for the current year.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $43.38, for a total transaction of $173,520.00. Following the sale, the chief executive officer now owns 499,781 shares in the company, valued at approximately $21,680,499.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $43.38, for a total transaction of $173,520.00. Following the completion of the transaction, the chief executive officer now owns 499,781 shares of the company’s stock, valued at $21,680,499.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.12, for a total value of $421,200.00. Following the completion of the sale, the chief financial officer now directly owns 67,141 shares in the company, valued at $2,827,978.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,000 shares of company stock valued at $1,223,580. 0.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FormFactor

Several institutional investors and hedge funds have recently modified their holdings of FORM. SG Americas Securities LLC bought a new position in FormFactor in the 3rd quarter worth about $427,000. Reinhart Partners LLC. grew its holdings in shares of FormFactor by 2.5% during the third quarter. Reinhart Partners LLC. now owns 834,698 shares of the semiconductor company’s stock valued at $29,164,000 after buying an additional 20,060 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in FormFactor by 15.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,098 shares of the semiconductor company’s stock valued at $528,000 after purchasing an additional 1,989 shares during the last quarter. Emerald Advisers LLC raised its stake in shares of FormFactor by 58.3% in the third quarter. Emerald Advisers LLC now owns 481,911 shares of the semiconductor company’s stock worth $16,838,000 after purchasing an additional 177,448 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in shares of FormFactor by 98.2% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 395,440 shares of the semiconductor company’s stock valued at $13,817,000 after purchasing an additional 195,898 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

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.