TD Cowen Increases FormFactor (NASDAQ:FORM) Price Target to $48.00

FormFactor (NASDAQ:FORM) had its target price increased by TD Cowen from $37.00 to $48.00 in a research note issued to investors on Thursday, Briefing.com reports. The firm presently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price objective would indicate a potential upside of 9.12% from the stock’s previous close.

Several other equities analysts also recently issued reports on FORM. Stifel Nicolaus upped their price objective on shares of FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. TheStreet raised FormFactor from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Evercore ISI initiated 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of FormFactor in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.56.

FormFactor Trading Down 1.3 %

FORM opened at $43.99 on Thursday. The business’s 50-day simple moving average is $43.80 and its 200-day simple moving average is $40.34. The company has a market cap of $3.41 billion, a P/E ratio of 41.50 and a beta of 1.15. FormFactor has a one year low of $24.88 and a one year high of $47.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.38.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. FormFactor had a net margin of 12.42% and a return on equity of 2.43%. The company had revenue of $168.16 million for the quarter, compared to analysts’ expectations of $165.49 million. As a group, equities research analysts expect that FormFactor will post 0.63 EPS for the current fiscal year.

Insider Activity at FormFactor

In other news, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the transaction, the chief financial officer now directly owns 67,141 shares in the company, valued at $2,827,978.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $45.94, for a total value of $183,760.00. Following the completion of the sale, the chief executive officer now owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.12, for a total transaction of $421,200.00. Following the sale, the chief financial officer now owns 67,141 shares in the company, valued at $2,827,978.92. The disclosure for this sale can be found here. Insiders have sold a total of 28,000 shares of company stock worth $1,223,580 in the last three months. Insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its stake in FormFactor by 19.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,944 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 1,151 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of FormFactor by 1.9% in the 1st quarter. BNP Paribas Financial Markets now owns 69,174 shares of the semiconductor company’s stock worth $3,156,000 after buying an additional 1,319 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in FormFactor by 5.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 338,999 shares of the semiconductor company’s stock valued at $15,469,000 after acquiring an additional 18,375 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in FormFactor by 0.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 374,468 shares of the semiconductor company’s stock valued at $17,087,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in FormFactor by 4.1% during the 1st quarter. Fifth Third Bancorp now owns 47,300 shares of the semiconductor company’s stock valued at $2,158,000 after acquiring an additional 1,862 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

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.