FormFactor (NASDAQ:FORM) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI began coverage on shares of FormFactor (NASDAQ:FORM) in a research note released on Tuesday, Marketbeat Ratings reports. The firm issued an in-line rating and a $50.00 price objective on the semiconductor company’s stock.

FORM has been the subject of a number of other reports. Needham & Company LLC reissued a buy rating and issued a $46.00 target price on shares of FormFactor in a research report on Thursday, February 8th. StockNews.com raised FormFactor from a hold rating to a buy rating in a research report on Thursday, April 11th. TD Cowen raised their target price on FormFactor from $33.00 to $37.00 and gave the stock a market perform rating in a research report on Thursday, February 8th. Finally, TheStreet upgraded FormFactor from a c rating to a b- rating in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $42.56.

FormFactor Stock Performance

Shares of FormFactor stock opened at $44.32 on Tuesday. The company has a current ratio of 4.38, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $43.45 and its 200 day simple moving average is $39.73. FormFactor has a 12 month low of $24.88 and a 12 month high of $47.94. The firm has a market capitalization of $3.43 billion, a P/E ratio of 41.81 and a beta of 1.18.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. The business had revenue of $168.16 million during the quarter, compared to the consensus estimate of $165.49 million. As a group, analysts anticipate that FormFactor will post 0.63 EPS for the current year.

Insider Activity at FormFactor

In related news, 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 completion of the sale, the chief financial officer now owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 completion of the sale, the chief financial officer now owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Friday, March 1st. The shares were sold at an average price of $43.38, for a total value of $173,520.00. Following the sale, the chief executive officer now directly owns 499,781 shares of the company’s stock, valued at approximately $21,680,499.78. The disclosure for this sale can be found here. Over the last quarter, 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

Hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in FormFactor during the first quarter worth about $28,000. Belpointe Asset Management LLC lifted its stake in FormFactor by 170.1% during the first quarter. Belpointe Asset Management LLC now owns 1,086 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 684 shares during the last quarter. GAMMA Investing LLC bought a new stake in FormFactor during the fourth quarter worth about $55,000. Quadrant Capital Group LLC lifted 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 purchasing an additional 260 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in FormFactor during the third quarter worth about $70,000. 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.