FormFactor (NASDAQ:FORM) Price Target Raised to $54.00


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FormFactor (NASDAQ:FORM) had its price objective hoisted by investment analysts at Needham & Company LLC from $48.00 to $54.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target suggests a potential upside of 8.70% from the company’s current price.

A number of other research firms have also commented on FORM. B. Riley raised their price objective on FormFactor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 25th. DA Davidson lowered FormFactor from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $36.00 to $50.00 in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Cowen raised their price objective on FormFactor from $45.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, February 4th. Citigroup lifted their price target on FormFactor from $36.00 to $57.00 in a research note on Monday, January 25th. Finally, Craig Hallum lifted their price target on FormFactor from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $45.78.

NASDAQ:FORM opened at $49.68 on Thursday. The stock has a market cap of $3.86 billion, a P/E ratio of 50.18 and a beta of 1.42. The stock has a 50 day simple moving average of $45.74 and a 200 day simple moving average of $40.22. The company has a current ratio of 3.35, a quick ratio of 2.65 and a debt-to-equity ratio of 0.04. FormFactor has a 1-year low of $20.51 and a 1-year high of $52.39.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Tuesday, February 2nd. The semiconductor company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.05. FormFactor had a return on equity of 14.52% and a net margin of 11.53%. The business had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $183.95 million. During the same period last year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that FormFactor will post 1.21 EPS for the current year.

In other FormFactor news, Director Edward Rogas, Jr. sold 18,000 shares of FormFactor stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $48.75, for a total transaction of $877,500.00. Also, CEO Mike Slessor sold 25,000 shares of FormFactor stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $46.27, for a total value of $1,156,750.00. Following the transaction, the chief executive officer now directly owns 384,219 shares in the company, valued at $17,777,813.13. The disclosure for this sale can be found here. Company insiders own 1.22% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FORM. Norges Bank acquired a new position in FormFactor during the 4th quarter worth about $47,309,000. FMR LLC lifted its holdings in FormFactor by 261,685.1% during the 1st quarter. FMR LLC now owns 1,020,962 shares of the semiconductor company’s stock worth $16,427,000 after buying an additional 1,020,572 shares during the period. Neumeier Poma Investment Counsel LLC acquired a new position in FormFactor during the 4th quarter worth about $19,578,000. Emerald Advisers LLC acquired a new position in FormFactor during the 4th quarter worth about $10,949,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in FormFactor during the 4th quarter worth about $8,711,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Company Profile

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. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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