FormFactor (NASDAQ:FORM) Price Target Increased to $54.00 by Analysts at Needham & Company LLC


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FormFactor (NASDAQ:FORM) had its target price lifted by Needham & Company LLC from $48.00 to $54.00 in a report released on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 8.70% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Craig Hallum raised their target price on shares of FormFactor from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. B. Riley raised their target price on shares of FormFactor from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 25th. DA Davidson cut shares of FormFactor from a “buy” rating to a “neutral” rating and raised their target price for the stock from $36.00 to $50.00 in a report on Tuesday, January 26th. They noted that the move was a valuation call. Citigroup raised their target price on shares of FormFactor from $36.00 to $57.00 in a report on Monday, January 25th. Finally, Cowen lifted their price objective on shares of FormFactor from $45.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, February 4th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. FormFactor has a consensus rating of “Buy” and an average target price of $45.78.

FORM stock opened at $49.68 on Thursday. The business’s fifty day moving average is $45.74 and its 200-day moving average is $40.22. The company has a quick ratio of 2.65, a current ratio of 3.35 and a debt-to-equity ratio of 0.04. The company has a market cap of $3.86 billion, a P/E ratio of 50.18 and a beta of 1.42. FormFactor has a twelve month low of $20.51 and a twelve month high of $52.39.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Tuesday, February 2nd. The semiconductor company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. FormFactor had a net margin of 11.53% and a return on equity of 14.52%. The business had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $183.95 million. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Research analysts anticipate that FormFactor will post 1.21 earnings per share for the current fiscal year.

In other news, Director Edward Rogas, Jr. sold 18,000 shares of FormFactor stock in a transaction on Friday, February 19th. The shares were sold at an average price of $48.75, for a total transaction of $877,500.00. Also, CEO Mike Slessor sold 25,000 shares of FormFactor stock in a transaction on Wednesday, February 10th. The stock was sold at an average price of $46.27, for a total transaction of $1,156,750.00. Following the transaction, the chief executive officer now owns 384,219 shares in the company, valued at approximately $17,777,813.13. The disclosure for this sale can be found here. Insiders own 1.22% of the company’s stock.

Several large investors have recently modified their holdings of the company. THB Asset Management lifted its holdings in shares of FormFactor by 0.7% during the fourth quarter. THB Asset Management now owns 35,176 shares of the semiconductor company’s stock worth $1,513,000 after purchasing an additional 229 shares during the period. ExodusPoint Capital Management LP lifted its holdings in shares of FormFactor by 4.3% during the third quarter. ExodusPoint Capital Management LP now owns 10,898 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 454 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of FormFactor by 2.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 18,940 shares of the semiconductor company’s stock worth $472,000 after purchasing an additional 460 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new position in shares of FormFactor during the fourth quarter worth $26,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of FormFactor by 0.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 73,121 shares of the semiconductor company’s stock worth $3,146,000 after purchasing an additional 616 shares during the period. Institutional investors own 88.90% of the company’s stock.

FormFactor Company Profile

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. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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