FormFactor (NASDAQ:FORM) PT Raised to $53.00 at Needham & Company LLC

FormFactor (NASDAQ:FORM) had its price objective increased by Needham & Company LLC from $46.00 to $53.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential downside of 1.85% from the company’s previous close.

FORM has been the subject of several other research reports. TD Cowen raised their price objective on shares of FormFactor from $37.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday. TheStreet upgraded shares of FormFactor from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Evercore ISI started coverage on shares of FormFactor in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 price objective for the company. Finally, Stifel Nicolaus raised their price objective on shares of FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.30.

FormFactor Stock Performance

Shares of FORM stock traded up $2.25 during mid-day trading on Thursday, hitting $54.00. The stock had a trading volume of 1,045,249 shares, compared to its average volume of 505,847. FormFactor has a fifty-two week low of $24.88 and a fifty-two week high of $54.27. The firm has a market cap of $4.19 billion, a PE ratio of 40.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.51 and a quick ratio of 3.52. The company’s 50-day simple moving average is $44.33 and its 200-day simple moving average is $40.58.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. FormFactor had a net margin of 15.48% and a return on equity of 2.29%. The company had revenue of $168.16 million during the quarter, compared to analysts’ expectations of $165.49 million. Sell-side analysts anticipate that FormFactor will post 0.63 earnings per share for the current year.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $43.38, for a total transaction of $173,520.00. Following the completion of the sale, the chief executive officer now directly owns 499,781 shares in the company, valued at $21,680,499.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $43.38, for a total transaction of $173,520.00. Following the completion of the sale, the chief executive officer now directly owns 499,781 shares in the company, valued at $21,680,499.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shai Shahar sold 10,000 shares of FormFactor stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.51, for a total transaction of $445,100.00. Following the sale, the chief financial officer now owns 27,591 shares of the company’s stock, valued at $1,228,075.41. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock worth $1,398,580 over the last ninety days. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FormFactor

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 worth $341,007,000 after purchasing an additional 224,599 shares during the period. Earnest Partners LLC raised its holdings in FormFactor by 1.2% in the third quarter. Earnest Partners LLC now owns 6,450,654 shares of the semiconductor company’s stock valued at $225,386,000 after buying an additional 78,466 shares during the period. Wellington Management Group LLP lifted its position in FormFactor by 81.1% during the fourth quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock valued at $80,387,000 after buying an additional 862,885 shares in the last quarter. Sei Investments Co. lifted its position in FormFactor by 10.2% during the fourth quarter. Sei Investments Co. now owns 1,417,633 shares of the semiconductor company’s stock valued at $59,129,000 after buying an additional 131,282 shares in the last quarter. Finally, Reinhart Partners LLC. grew its stake in FormFactor by 2.5% during the third quarter. Reinhart Partners LLC. now owns 834,698 shares of the semiconductor company’s stock worth $29,164,000 after buying an additional 20,060 shares during the period. Hedge funds and other institutional investors own 98.76% of the company’s stock.

About FormFactor

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.