FormFactor (NASDAQ:FORM) Price Target Raised to $60.00 at TD Cowen

FormFactor (NASDAQ:FORM) had its price objective upped by TD Cowen from $48.00 to $60.00 in a report published on Thursday morning, MarketBeat.com reports. They currently have a hold rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on FORM. Evercore ISI assumed coverage on FormFactor in a research note on Tuesday, April 16th. They set an in-line rating and a $50.00 price objective for the company. Stifel Nicolaus lifted their price target on FormFactor from $50.00 to $55.00 and gave the stock a hold rating in a report on Tuesday, July 16th. Citigroup upped their price objective on shares of FormFactor from $37.00 to $46.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Needham & Company LLC lifted their price objective on FormFactor from $46.00 to $53.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Finally, Craig Hallum increased their target price on FormFactor from $50.00 to $60.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, FormFactor presently has an average rating of Hold and a consensus target price of $59.63.

FormFactor Stock Performance

NASDAQ:FORM traded down $2.79 during mid-day trading on Thursday, hitting $38.11. The company’s stock had a trading volume of 20,992 shares, compared to its average volume of 557,645. FormFactor has a 1 year low of $29.50 and a 1 year high of $63.63. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 30.99 and a beta of 1.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.67. The business’s fifty day moving average is $57.16 and its two-hundred day moving average is $49.52.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FORM. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of FormFactor by 6.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,640 shares of the semiconductor company’s stock worth $1,487,000 after acquiring an additional 2,044 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of FormFactor in the 4th quarter valued at approximately $5,967,000. Louisiana State Employees Retirement System acquired a new stake in FormFactor in the 4th quarter worth approximately $1,623,000. Mackenzie Financial Corp bought a new stake in shares of FormFactor during the 4th quarter worth $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of FormFactor by 18.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,823 shares of the semiconductor company’s stock worth $743,000 after buying an additional 2,725 shares during the period. 98.76% of the stock is currently owned by institutional investors and hedge funds.

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.