FormFactor (FORM) Given Strong-Buy Rating at Needham & Company LLC

FormFactor (NASDAQ:FORM)‘s stock had its “strong-buy” rating restated by research analysts at Needham & Company LLC in a report released on Thursday, Marketbeat reports. They presently have a $20.00 price objective on the semiconductor company’s stock, down from their previous price objective of $22.00. Needham & Company LLC’s price objective points to a potential upside of 29.03% from the company’s previous close.

Other analysts also recently issued research reports about the company. B. Riley reiterated a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of FormFactor in a research note on Thursday, November 2nd. Citigroup upped their price target on FormFactor from $16.00 to $17.40 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $18.34.

FormFactor (NASDAQ:FORM) remained flat at $$15.50 on Thursday. The stock had a trading volume of 523,289 shares, compared to its average volume of 514,467. The company has a market cap of $1,131.25, a P/E ratio of 59.62, a P/E/G ratio of 0.81 and a beta of 1.46. FormFactor has a one year low of $10.45 and a one year high of $18.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.45 and a current ratio of 3.16.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $143.74 million during the quarter, compared to the consensus estimate of $140.83 million. FormFactor had a return on equity of 16.80% and a net margin of 3.68%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. sell-side analysts forecast that FormFactor will post 1.04 EPS for the current fiscal year.

In related news, CFO Michael M. Ludwig sold 16,845 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $17.50, for a total transaction of $294,787.50. Following the completion of the sale, the chief financial officer now owns 241,132 shares in the company, valued at approximately $4,219,810. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard Delateur sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $17.69, for a total value of $265,350.00. Following the sale, the director now owns 25,000 shares of the company’s stock, valued at approximately $442,250. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Advisor Group Inc. boosted its stake in FormFactor by 105.4% during the 3rd quarter. Advisor Group Inc. now owns 9,566 shares of the semiconductor company’s stock valued at $160,000 after purchasing an additional 4,909 shares during the period. SG Americas Securities LLC bought a new stake in FormFactor during the 3rd quarter valued at approximately $172,000. Gotham Asset Management LLC bought a new stake in FormFactor during the 2nd quarter valued at approximately $140,000. Csenge Advisory Group bought a new stake in FormFactor during the 3rd quarter valued at approximately $206,000. Finally, Cubist Systematic Strategies LLC boosted its stake in FormFactor by 128.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 12,754 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 7,183 shares during the period. Hedge funds and other institutional investors own 84.56% of the company’s stock.

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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.

Analyst Recommendations for FormFactor (NASDAQ:FORM)

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