FormFactor (NASDAQ:FORM) Price Target Raised to $62.00

FormFactor (NASDAQ:FORM) had its price target upped by analysts at DA Davidson from $55.00 to $62.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s price objective would suggest a potential upside of 30.69% from the stock’s previous close.

A number of other research analysts have also recently issued reports on FORM. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of FormFactor in a research note on Thursday. Evercore ISI started coverage on shares of FormFactor in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 price target on the stock. Citigroup increased their price objective on shares of FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Stifel Nicolaus lifted their target price on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Finally, StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.89.

FormFactor Stock Down 11.4 %

Shares of FormFactor stock traded down $6.12 during trading on Thursday, hitting $47.44. The company’s stock had a trading volume of 277,608 shares, compared to its average volume of 538,270. FormFactor has a 52 week low of $29.50 and a 52 week high of $63.63. The company has a market capitalization of $3.66 billion, a PE ratio of 35.94 and a beta of 1.11. The company has a fifty day simple moving average of $57.74 and a two-hundred day simple moving average of $49.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 4.51.

FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). FormFactor had a net margin of 15.48% and a return on equity of 2.29%. The business had revenue of $168.73 million for the quarter, compared to the consensus estimate of $165.45 million. Equities research analysts predict that FormFactor will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Shai Shahar sold 6,094 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $55.76, for a total transaction of $339,801.44. Following the transaction, the chief financial officer now directly owns 15,669 shares of the company’s stock, valued at approximately $873,703.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Sheri Rhodes sold 13,319 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total transaction of $746,130.38. Following the completion of the sale, the director now directly owns 7,634 shares in the company, valued at $427,656.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shai Shahar sold 6,094 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $55.76, for a total transaction of $339,801.44. Following the completion of the transaction, the chief financial officer now owns 15,669 shares in the company, valued at $873,703.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,536 shares of company stock worth $1,900,394. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On FormFactor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Riverview Trust Co purchased a new position in FormFactor during the first quarter valued at $28,000. Innealta Capital LLC bought a new position in shares of FormFactor in the second quarter worth about $38,000. GAMMA Investing LLC purchased a new position in shares of FormFactor during the 4th quarter valued at about $55,000. LRI Investments LLC bought a new position in shares of FormFactor during the 1st quarter valued at approximately $70,000. Finally, Covestor Ltd increased its holdings in FormFactor by 3,951.3% in the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 1,541 shares in the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

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.