FormFactor, Inc. (FORM) PT Raised to $17.40
FormFactor, Inc. (NASDAQ:FORM) had its price target raised by investment analysts at Citigroup Inc. from $16.00 to $17.40 in a report released on Thursday. The firm presently has a “neutral” rating on the semiconductor company’s stock. Citigroup Inc.’s price target would suggest a potential downside of 2.79% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. B. Riley reissued a “buy” rating and set a $20.00 target price on shares of FormFactor in a report on Tuesday, August 8th. Zacks Investment Research raised FormFactor from a “hold” rating to a “strong-buy” rating and set a $16.00 price target for the company in a report on Wednesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target (up previously from $16.00) on shares of FormFactor in a report on Thursday, August 3rd. BidaskClub cut FormFactor from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $20.00 price target on shares of FormFactor in a report on Thursday, August 31st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.06.
Shares of FormFactor (NASDAQ:FORM) traded up $0.70 during trading on Thursday, hitting $17.90. The company’s stock had a trading volume of 2,389,121 shares, compared to its average volume of 733,079. FormFactor has a fifty-two week low of $8.85 and a fifty-two week high of $18.65. The firm has a market capitalization of $1,298.56, a PE ratio of 18.27, a P/E/G ratio of 1.05 and a beta of 1.53. The company has a quick ratio of 2.25, a current ratio of 2.87 and a debt-to-equity ratio of 0.24.
FormFactor (NASDAQ:FORM) last announced its earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. FormFactor had a return on equity of 17.18% and a net margin of 3.68%. The business had revenue of $143.74 million during the quarter, compared to analysts’ expectations of $140.83 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. equities analysts forecast that FormFactor will post 1.04 EPS for the current fiscal year.
In related news, Director Michael W. Zellner sold 3,725 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $15.26, for a total value of $56,843.50. Following the completion of the transaction, the director now directly owns 63,000 shares in the company, valued at $961,380. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael M. Ludwig sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $14.21, for a total value of $426,300.00. Following the completion of the transaction, the chief financial officer now owns 262,847 shares of the company’s stock, valued at $3,735,055.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,725 shares of company stock valued at $623,844. Insiders own 2.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of FORM. Gotham Asset Management LLC purchased a new position in FormFactor in the second quarter worth approximately $140,000. Great West Life Assurance Co. Can grew its position in FormFactor by 214.9% in the second quarter. Great West Life Assurance Co. Can now owns 12,462 shares of the semiconductor company’s stock worth $154,000 after acquiring an additional 8,505 shares during the period. Tudor Investment Corp ET AL purchased a new position in FormFactor in the first quarter worth approximately $160,000. Quantbot Technologies LP grew its position in FormFactor by 3,136.6% in the second quarter. Quantbot Technologies LP now owns 14,662 shares of the semiconductor company’s stock worth $181,000 after acquiring an additional 14,209 shares during the period. Finally, Bourgeon Capital Management LLC grew its position in FormFactor by 50.0% in the second quarter. Bourgeon Capital Management LLC now owns 15,000 shares of the semiconductor company’s stock worth $186,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 86.17% of the company’s stock.
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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