FormFactor (FORM) Price Target Cut to $20.00 by Analysts at Needham & Company LLC
FormFactor (NASDAQ:FORM) had its target price dropped by investment analysts at Needham & Company LLC from $22.00 to $20.00 in a research report issued on Thursday. The brokerage currently has a “strong-buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 31.58% from the company’s previous close.
Several other equities analysts have also issued reports on FORM. B. Riley restated a “buy” rating and set a $22.00 price target (up from $20.00) on shares of FormFactor in a research note on Thursday, November 2nd. Citigroup boosted their price target on FormFactor from $16.00 to $17.40 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. FormFactor presently has an average rating of “Buy” and a consensus price target of $18.34.
FormFactor (NASDAQ FORM) opened at $15.20 on Thursday. FormFactor has a 12 month low of $10.45 and a 12 month high of $18.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.45 and a current ratio of 3.16. The stock has a market capitalization of $1,215.19, a PE ratio of 58.46, a P/E/G ratio of 0.87 and a beta of 1.46.
FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. FormFactor had a return on equity of 16.80% and a net margin of 3.68%. The firm had revenue of $143.74 million for the quarter, compared to analyst estimates of $140.83 million. During the same period in the previous year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. equities analysts anticipate that FormFactor will post 1.04 EPS for the current fiscal year.
In other news, CFO Michael M. Ludwig sold 16,845 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $17.50, for a total value of $294,787.50. Following the sale, the chief financial officer now directly owns 241,132 shares in the company, valued at approximately $4,219,810. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Delateur sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $17.69, for a total value of $265,350.00. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at $442,250. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its stake in shares of FormFactor by 6.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 334,956 shares of the semiconductor company’s stock valued at $4,154,000 after purchasing an additional 20,777 shares during the period. Algert Global LLC grew its stake in shares of FormFactor by 26.7% in the 3rd quarter. Algert Global LLC now owns 199,305 shares of the semiconductor company’s stock valued at $3,358,000 after purchasing an additional 42,022 shares during the period. State of Wisconsin Investment Board grew its stake in shares of FormFactor by 4.3% in the 3rd quarter. State of Wisconsin Investment Board now owns 600,000 shares of the semiconductor company’s stock valued at $10,110,000 after purchasing an additional 25,000 shares during the period. Vanguard Group Inc. grew its stake in shares of FormFactor by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,971,401 shares of the semiconductor company’s stock valued at $74,045,000 after purchasing an additional 253,323 shares during the period. Finally, 22NW LP bought a new stake in shares of FormFactor in the 3rd quarter valued at approximately $337,000. Institutional investors own 84.56% of the company’s stock.
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FormFactor Company Profile
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.
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