FormFactor (NASDAQ:FORM) Price Target Increased to $53.00 by Analysts at Needham & Company LLC

FormFactor (NASDAQ:FORM) had its price target hoisted by Needham & Company LLC from $46.00 to $53.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other brokerages have also recently issued reports on FORM. StockNews.com cut FormFactor from a buy rating to a hold rating in a research note on Friday, April 19th. TD Cowen upped their price target on FormFactor from $37.00 to $48.00 and gave the company a hold rating in a research report on Thursday. Stifel Nicolaus raised their price objective on FormFactor from $36.00 to $42.00 and gave the stock a hold rating in a research note on Tuesday, April 30th. Evercore ISI started coverage on shares of FormFactor in a research note on Tuesday, April 16th. They set an in-line rating and a $50.00 target price for the company. Finally, TheStreet raised shares of FormFactor from a c rating to a b- rating in a report on Thursday, February 8th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $47.30.

FormFactor Stock Up 4.3 %

FORM stock opened at $54.00 on Thursday. The company has a current ratio of 4.51, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $44.33 and a 200-day simple moving average of $40.63. The company has a market capitalization of $4.19 billion, a P/E ratio of 40.91 and a beta of 1.15. FormFactor has a twelve month low of $24.88 and a twelve month high of $54.27.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $168.16 million for the quarter, compared to the consensus estimate of $165.49 million. FormFactor had a net margin of 15.48% and a return on equity of 2.29%. On average, equities research analysts predict that FormFactor will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FormFactor 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 completion of the transaction, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at approximately $2,827,978.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 67,141 shares in the company, valued at approximately $2,827,978.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Monday, April 1st. The shares were sold at an average price of $45.94, for a total value of $183,760.00. Following the sale, the chief executive officer now directly owns 495,781 shares in the company, valued at approximately $22,776,179.14. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock valued at $1,398,580 in the last quarter. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in shares of FormFactor during the 1st quarter worth about $1,030,000. Janney Montgomery Scott LLC lifted its position in FormFactor by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 6,944 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 1,151 shares during the period. BNP Paribas Financial Markets lifted its position in FormFactor by 1.9% in the first quarter. BNP Paribas Financial Markets now owns 69,174 shares of the semiconductor company’s stock worth $3,156,000 after purchasing an additional 1,319 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in FormFactor by 5.7% during 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 purchasing an additional 18,375 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its position in shares of 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 purchasing an additional 2,090 shares during the period. Institutional investors own 98.76% 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 in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.