FormFactor (NASDAQ:FORM) Price Target Raised to $60.00

FormFactor (NASDAQ:FORM) had its price objective lifted by investment analysts at Craig Hallum from $50.00 to $60.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price points to a potential upside of 19.62% from the stock’s previous close.

Several other brokerages have also recently weighed in on FORM. TheStreet raised shares of FormFactor from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. Needham & Company LLC increased their price target on FormFactor from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI initiated coverage on FormFactor in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 price objective for the company. Stifel Nicolaus boosted their price objective on FormFactor from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.44.

FormFactor Price Performance

FORM stock traded up $6.17 during trading on Thursday, hitting $50.16. The company had a trading volume of 909,898 shares, compared to its average volume of 460,419. The company has a fifty day moving average price of $43.87 and a two-hundred day moving average price of $40.37. FormFactor has a fifty-two week low of $24.88 and a fifty-two week high of $50.92. The company has a market cap of $3.88 billion, a P/E ratio of 47.27 and a beta of 1.15. The company has a current ratio of 4.38, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. The company had revenue of $168.16 million during the quarter, compared to analysts’ expectations of $165.49 million. Equities research analysts expect that FormFactor will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $45.94, for a total transaction of $183,760.00. Following the transaction, the chief executive officer now owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $45.94, for a total transaction of $183,760.00. Following the completion of the sale, the chief executive officer now directly owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shai Shahar sold 10,000 shares of FormFactor stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.12, for a total transaction of $421,200.00. Following the sale, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at approximately $2,827,978.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,000 shares of company stock valued at $1,223,580. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp Et Al increased its stake in FormFactor by 368.7% in the third quarter. Tudor Investment Corp Et Al now owns 83,760 shares of the semiconductor company’s stock valued at $2,927,000 after purchasing an additional 65,889 shares in the last quarter. Dark Forest Capital Management LP increased its position in shares of FormFactor by 240.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 23,649 shares of the semiconductor company’s stock valued at $826,000 after buying an additional 16,702 shares in the last quarter. Vanguard Group Inc. increased its position in shares of FormFactor by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock valued at $341,007,000 after buying an additional 224,599 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in FormFactor by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 815,716 shares of the semiconductor company’s stock worth $28,501,000 after buying an additional 45,248 shares during the period. Finally, QRG Capital Management Inc. bought a new position in FormFactor during the third quarter worth about $301,000. Institutional investors own 98.76% of the company’s stock.

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 in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.