FormFactor (NASDAQ:FORM) PT Raised to $40.00

FormFactor (NASDAQ:FORM) had its target price increased by B. Riley from $36.00 to $40.00 in a research note issued to investors on Wednesday, The Fly reports. B. Riley also issued estimates for FormFactor’s Q1 2021 earnings at $0.28 EPS, Q2 2021 earnings at $0.31 EPS, Q4 2021 earnings at $0.34 EPS and FY2021 earnings at $1.21 EPS.

A number of other research analysts also recently commented on FORM. BidaskClub raised shares of FormFactor from a buy rating to a strong-buy rating in a research note on Thursday, June 18th. Sidoti upped their price target on shares of FormFactor from $28.00 to $32.00 and gave the stock a buy rating in a research report on Thursday, June 4th. Craig Hallum lowered shares of FormFactor from a buy rating to a hold rating and lifted their price target for the company from $25.00 to $29.00 in a report on Thursday, July 2nd. Cowen upped their price objective on FormFactor from $24.00 to $30.00 and gave the stock a market perform rating in a report on Thursday, July 2nd. Finally, Stifel Nicolaus raised FormFactor to a positive rating in a research report on Thursday, July 2nd. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $29.11.

FORM stock opened at $31.72 on Wednesday. The company has a 50 day moving average price of $27.56 and a two-hundred day moving average price of $24.64. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.63. The stock has a market capitalization of $2.44 billion, a P/E ratio of 49.56 and a beta of 1.40. FormFactor has a one year low of $15.13 and a one year high of $32.35.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.09. FormFactor had a return on equity of 11.68% and a net margin of 8.05%. The business had revenue of $160.75 million during the quarter, compared to the consensus estimate of $139.93 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. Research analysts forecast that FormFactor will post 0.91 earnings per share for the current fiscal year.

In related news, Director Dennis Thomas St sold 6,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $24.78, for a total value of $148,680.00. Following the completion of the transaction, the director now owns 30,000 shares of the company’s stock, valued at $743,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shai Shahar sold 5,111 shares of FormFactor stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $24.87, for a total value of $127,110.57. Following the sale, the chief financial officer now owns 17,216 shares in the company, valued at $428,161.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,121 shares of company stock worth $1,061,110. Company insiders own 1.22% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of FormFactor by 61.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,723 shares of the semiconductor company’s stock worth $44,000 after buying an additional 657 shares during the last quarter. Cognios Capital LLC acquired a new position in FormFactor during the 1st quarter worth $51,000. Meeder Asset Management Inc. bought a new stake in shares of FormFactor in the 4th quarter worth about $55,000. Mutual of America Capital Management LLC increased its position in shares of FormFactor by 21.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 3,257 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 573 shares during the last quarter. Finally, First Bank & Trust raised its stake in shares of FormFactor by 50.8% in the 1st quarter. First Bank & Trust now owns 4,656 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 1,568 shares in the last quarter. 92.46% of the stock is owned by institutional investors and hedge funds.

FormFactor Company Profile

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and Systems. The company offers probe cards that are used to test various semiconductor device types, including system 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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