FormFactor, Inc. (FORM) PT Raised to $22.00

FormFactor, Inc. (NASDAQ:FORM) had its target price lifted by B. Riley from $20.00 to $22.00 in a research note issued to investors on Wednesday, November 1st, MarketBeat.com reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target points to a potential upside of 29.79% from the stock’s current price.

FORM has been the subject of several other research reports. DA Davidson reiterated a “buy” rating and issued a $20.00 price objective on shares of FormFactor in a report on Thursday, August 31st. BidaskClub cut FormFactor from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Zacks Investment Research cut FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of FormFactor in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.06.

Shares of FormFactor (NASDAQ:FORM) opened at $16.95 on Wednesday. The firm has a market capitalization of $1,215.19, a PE ratio of 16.99, a P/E/G ratio of 1.00 and a beta of 1.53. FormFactor has a fifty-two week low of $10.15 and a fifty-two week high of $18.65. The company has a current ratio of 3.16, a quick ratio of 2.45 and a debt-to-equity ratio of 0.20.

FormFactor (NASDAQ:FORM) last issued its earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $143.74 million during the quarter, compared to analysts’ expectations of $140.83 million. FormFactor had a return on equity of 16.80% and a net margin of 3.68%. FormFactor’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 EPS. equities analysts predict that FormFactor will post 1.04 earnings per share for the current fiscal year.

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In other news, CFO Michael M. Ludwig sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $14.07, for a total value of $140,700.00. Following the completion of the transaction, the chief financial officer now owns 267,977 shares of the company’s stock, valued at approximately $3,770,436.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael M. Ludwig sold 16,845 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $17.50, for a total value of $294,787.50. Following the transaction, the chief financial officer now directly owns 241,132 shares of the company’s stock, valued at approximately $4,219,810. The disclosure for this sale can be found here. Insiders sold a total of 45,570 shares of company stock valued at $757,681 in the last three months. Corporate insiders own 2.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in FormFactor by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 5,971,401 shares of the semiconductor company’s stock valued at $74,045,000 after buying an additional 253,323 shares in the last quarter. Dimensional Fund Advisors LP increased its position in FormFactor by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,382,642 shares of the semiconductor company’s stock valued at $63,783,000 after buying an additional 107,736 shares in the last quarter. Pinnacle Associates Ltd. increased its position in FormFactor by 84.8% during the 2nd quarter. Pinnacle Associates Ltd. now owns 2,001,290 shares of the semiconductor company’s stock valued at $24,816,000 after buying an additional 918,160 shares in the last quarter. Victory Capital Management Inc. increased its position in FormFactor by 1.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,000,917 shares of the semiconductor company’s stock valued at $33,715,000 after buying an additional 25,550 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in FormFactor by 1.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,955,025 shares of the semiconductor company’s stock valued at $24,242,000 after buying an additional 32,341 shares in the last quarter. 82.05% of the stock is owned by institutional investors.

About FormFactor

FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.

Analyst Recommendations for FormFactor (NASDAQ:FORM)

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