FormFactor, Inc. (FORM) Stock Rating Reaffirmed by B. Riley
FormFactor, Inc. (NASDAQ:FORM)‘s stock had its “buy” rating reiterated by stock analysts at B. Riley in a research note issued to investors on Tuesday. They presently have a $20.00 price objective on the semiconductor company’s stock. B. Riley’s price objective would indicate a potential upside of 43.37% from the stock’s previous close.
FORM has been the subject of several other reports. Zacks Investment Research upgraded FormFactor from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Monday, May 8th. ValuEngine upgraded FormFactor from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of FormFactor in a report on Thursday, June 22nd. Sidoti restated a “buy” rating and issued a $18.00 price target (up from $15.00) on shares of FormFactor in a report on Wednesday, June 14th. Finally, BidaskClub upgraded FormFactor from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. FormFactor currently has an average rating of “Buy” and an average target price of $16.38.
FormFactor (FORM) traded up 0.179% during trading on Tuesday, reaching $13.975. The company’s stock had a trading volume of 287,197 shares. The stock’s 50 day moving average is $12.96 and its 200-day moving average is $12.42. FormFactor has a 52 week low of $8.55 and a 52 week high of $15.58. The firm’s market cap is $1.01 billion.
FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.12. FormFactor had a positive return on equity of 15.85% and a negative net margin of 1.32%. The company had revenue of $144 million during the quarter, compared to the consensus estimate of $134.53 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 73.3% compared to the same quarter last year. On average, equities research analysts forecast that FormFactor will post $1.20 earnings per share for the current fiscal year.
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In other FormFactor news, Director Richard Delateur sold 45,262 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $14.08, for a total value of $637,288.96. Following the completion of the transaction, the director now directly owns 55,262 shares in the company, valued at $778,088.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward Rogas, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $13.90, for a total value of $83,400.00. Following the completion of the transaction, the director now owns 56,000 shares of the company’s stock, valued at $778,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 336,995 shares of company stock valued at $4,894,976. 2.84% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Peregrine Capital Management LLC bought a new position in FormFactor during the third quarter worth $21,554,000. Victory Capital Management Inc. increased its position in FormFactor by 1,415.9% in the first quarter. Victory Capital Management Inc. now owns 2,003,210 shares of the semiconductor company’s stock worth $23,738,000 after buying an additional 1,871,060 shares in the last quarter. Wellington Management Group LLP bought a new position in FormFactor during the first quarter worth $9,595,000. Pinnacle Associates Ltd. bought a new position in FormFactor during the first quarter worth $12,835,000. Finally, Dimensional Fund Advisors LP increased its position in FormFactor by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,999,711 shares of the semiconductor company’s stock worth $44,947,000 after buying an additional 923,309 shares in the last quarter. Hedge funds and other institutional investors own 89.36% of the company’s stock.
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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