FormFactor, Inc. (NASDAQ:FORM) Receives $57.00 Consensus Target Price from Brokerages

FormFactor, Inc. (NASDAQ:FORM) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $57.00.

A number of equities research analysts have recently issued reports on FORM shares. Zacks Research upgraded shares of FormFactor from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Citigroup upgraded shares of FormFactor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $62.00 in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of FormFactor in a report on Wednesday, October 8th. Northland Securities set a $44.00 target price on FormFactor in a research report on Thursday, October 30th. Finally, Cowen reissued a “hold” rating on shares of FormFactor in a research report on Thursday, October 30th.

Insiders Place Their Bets

In other FormFactor news, CEO Mike Slessor sold 39,606 shares of FormFactor stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $65.00, for a total transaction of $2,574,390.00. Following the completion of the sale, the chief executive officer owned 485,995 shares of the company’s stock, valued at $31,589,675. This trade represents a 7.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kelley Steven-Waiss sold 2,700 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $55.97, for a total transaction of $151,119.00. Following the completion of the transaction, the director directly owned 32,779 shares in the company, valued at $1,834,640.63. This trade represents a 7.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,378 shares of company stock worth $3,678,088 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of FormFactor by 170.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,094,421 shares of the semiconductor company’s stock worth $72,069,000 after acquiring an additional 1,319,345 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of FormFactor in the 3rd quarter valued at approximately $37,391,000. Shannon River Fund Management LLC acquired a new stake in FormFactor in the 3rd quarter worth approximately $35,260,000. Reinhart Partners LLC. boosted its position in FormFactor by 64.8% during the second quarter. Reinhart Partners LLC. now owns 1,904,698 shares of the semiconductor company’s stock worth $65,541,000 after purchasing an additional 749,088 shares during the period. Finally, Channing Capital Management LLC acquired a new position in FormFactor during the third quarter valued at approximately $16,909,000. 98.76% of the stock is owned by hedge funds and other institutional investors.

FormFactor Trading Up 6.4%

Shares of FORM opened at $68.64 on Thursday. The business’s 50-day moving average price is $55.80 and its 200 day moving average price is $42.23. The company has a current ratio of 4.30, a quick ratio of 3.46 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $5.32 billion, a P/E ratio of 132.00 and a beta of 1.12. FormFactor has a 1-year low of $22.58 and a 1-year high of $68.76.

FormFactor Company Profile

FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.