FormFactor (NASDAQ:FORM) PT Raised to $46.00

FormFactor (NASDAQ:FORM) had its target price raised by Citigroup from $37.00 to $46.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. TheStreet raised FormFactor from a c rating to a b- rating in a research note on Thursday, February 8th. Needham & Company LLC boosted their target price on FormFactor from $46.00 to $53.00 and gave the stock a buy rating in a research report on Thursday. Evercore ISI began coverage on FormFactor in a research report on Tuesday, April 16th. They issued an in-line rating and a $50.00 price target for the company. B. Riley lifted their price target on FormFactor from $52.00 to $54.00 and gave the stock a buy rating in a research note on Thursday. Finally, Craig Hallum boosted their price objective on shares of FormFactor from $50.00 to $60.00 and gave the stock a buy rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $47.30.

FormFactor Price Performance

FormFactor stock traded up $2.25 during midday trading on Thursday, reaching $54.00. The company’s stock had a trading volume of 1,045,248 shares, compared to its average volume of 478,773. The firm has a market capitalization of $4.18 billion, a PE ratio of 40.91 and a beta of 1.15. FormFactor has a fifty-two week low of $24.88 and a fifty-two week high of $54.27. The stock’s 50 day simple moving average is $44.07 and its 200 day simple moving average is $40.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.38.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $168.16 million during the quarter, compared to the consensus estimate of $165.49 million. FormFactor had a net margin of 15.48% and a return on equity of 2.33%. On average, equities research analysts forecast that FormFactor will post 0.63 earnings per share for the current year.

Insider Activity at FormFactor

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Mike Slessor sold 4,000 shares of the firm’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 sale, the chief executive officer now owns 495,781 shares in the company, valued at $22,776,179.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shai Shahar sold 10,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.12, for a total value of $421,200.00. Following the transaction, the chief financial officer now owns 67,141 shares in the company, valued at $2,827,978.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,000 shares of company stock valued at $1,398,580. 0.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Riverview Trust Co acquired a new stake in shares of FormFactor during the 1st quarter worth $28,000. GAMMA Investing LLC purchased a new stake in FormFactor during the fourth quarter valued at about $55,000. Quadrant Capital Group LLC increased its stake in FormFactor by 19.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 260 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of FormFactor in the 3rd quarter worth about $70,000. Finally, Mackenzie Financial Corp purchased a new position in shares of FormFactor in the 4th quarter worth about $202,000. Institutional investors and hedge funds 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.