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

FormFactor (NASDAQ:FORM) had its price target increased by Needham & Company LLC from $46.00 to $53.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 20.48% from the stock’s previous close.

FORM has been the topic of a number of other reports. Evercore ISI started coverage on FormFactor in a research note on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price target on the stock. StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. TheStreet raised FormFactor from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. Stifel Nicolaus lifted their price target on FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, TD Cowen lifted their price target on FormFactor from $37.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.33.

FormFactor Trading Down 1.3 %

Shares of FORM stock opened at $43.99 on Thursday. FormFactor has a twelve month low of $24.88 and a twelve month high of $47.94. The stock’s fifty day simple moving average is $43.80 and its 200 day simple moving average is $40.34. The company has a quick ratio of 3.52, a current ratio of 4.38 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.41 billion, a P/E ratio of 41.50 and a beta of 1.15.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. The firm had revenue of $168.16 million for the quarter, compared to analyst estimates of $165.49 million. As a group, sell-side analysts predict that FormFactor will post 0.63 EPS for the current fiscal year.

Insider Activity at FormFactor

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 transaction of $421,200.00. Following the completion of the sale, the chief financial officer now owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Shai Shahar sold 10,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The sale 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 Friday, March 1st. The shares were sold at an average price of $43.38, for a total transaction of $173,520.00. Following the completion of the sale, the chief executive officer now directly owns 499,781 shares of the company’s stock, valued at $21,680,499.78. The disclosure for this sale can be found here. Insiders have sold a total of 28,000 shares of company stock worth $1,223,580 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FORM. Tudor Investment Corp Et Al lifted its holdings in shares of FormFactor by 368.7% in the 3rd quarter. Tudor Investment Corp Et Al now owns 83,760 shares of the semiconductor company’s stock worth $2,927,000 after purchasing an additional 65,889 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in FormFactor by 240.4% during the third quarter. Dark Forest Capital Management LP now owns 23,649 shares of the semiconductor company’s stock worth $826,000 after buying an additional 16,702 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of FormFactor by 2.4% in the third quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock valued at $341,007,000 after buying an additional 224,599 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of FormFactor by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 815,716 shares of the semiconductor company’s stock valued at $28,501,000 after buying an additional 45,248 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of FormFactor during the third quarter worth about $301,000. Institutional investors own 98.76% of the company’s stock.

About FormFactor

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.