FormFactor (NASDAQ:FORM) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of FormFactor (NASDAQ:FORM) in a research note released on Tuesday, MarketBeat.com reports. The brokerage issued an in-line rating and a $50.00 price objective on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on FORM. Needham & Company LLC reaffirmed a buy rating and issued a $46.00 price objective on shares of FormFactor in a report on Thursday, February 8th. StockNews.com raised FormFactor from a hold rating to a buy rating in a report on Thursday, April 11th. TD Cowen lifted their price objective on FormFactor from $33.00 to $37.00 and gave the company a market perform rating in a report on Thursday, February 8th. Finally, TheStreet raised FormFactor from a c rating to a b- rating in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $42.56.

FormFactor Stock Performance

NASDAQ:FORM opened at $44.32 on Tuesday. The stock has a market cap of $3.43 billion, a P/E ratio of 41.81 and a beta of 1.18. The stock has a 50 day simple moving average of $43.45 and a 200 day simple moving average of $39.73. The company has a current ratio of 4.38, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01. FormFactor has a 1-year low of $24.88 and a 1-year high of $47.94.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $168.16 million during the quarter, compared to analysts’ expectations of $165.49 million. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. Research analysts anticipate that FormFactor will post 0.63 earnings per share for the current year.

Insider Activity

In other news, CFO Shai Shahar sold 10,000 shares of FormFactor stock in a transaction 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 transaction, the chief financial officer now owns 67,141 shares in the company, valued at approximately $2,827,978.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the completion of the transaction, the chief financial officer now owns 67,141 shares of the company’s stock, valued at approximately $2,827,978.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,000 shares of company stock worth $1,223,580. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several institutional investors and hedge funds have recently added to or reduced their stakes in FORM. BlackRock Inc. lifted its holdings in shares of FormFactor by 2.4% during the second quarter. BlackRock Inc. now owns 12,733,906 shares of the semiconductor company’s stock worth $435,754,000 after purchasing an additional 303,681 shares during the period. Vanguard Group Inc. lifted its holdings in FormFactor by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock worth $341,007,000 after buying an additional 224,599 shares during the period. Earnest Partners LLC grew its position in shares of FormFactor by 1.2% in the 3rd quarter. Earnest Partners LLC now owns 6,450,654 shares of the semiconductor company’s stock valued at $225,386,000 after buying an additional 78,466 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of FormFactor by 24.2% in the second quarter. Alliancebernstein L.P. now owns 3,485,470 shares of the semiconductor company’s stock valued at $119,273,000 after buying an additional 678,330 shares during the period. Finally, State Street Corp increased its stake in shares of FormFactor by 0.4% in the first quarter. State Street Corp now owns 2,850,891 shares of the semiconductor company’s stock valued at $90,801,000 after buying an additional 11,027 shares during the period. 98.76% of the stock is currently owned by institutional investors and hedge funds.

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 in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.