FormFactor, Inc. (NASDAQ:FORM) Receives $42.71 Consensus PT from Analysts

FormFactor, Inc. (NASDAQ:FORM) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $42.71.

A number of analysts have recently weighed in on the stock. Evercore ISI cut their price objective on shares of FormFactor from $43.00 to $33.00 and set an “in-line” rating on the stock in a research note on Thursday, May 1st. B. Riley increased their price objective on shares of FormFactor from $26.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. DA Davidson cut their price objective on shares of FormFactor from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of FormFactor in a research report on Thursday, May 1st.

FormFactor Trading Up 4.1%

NASDAQ FORM opened at $34.47 on Friday. The company has a fifty day simple moving average of $30.83 and a two-hundred day simple moving average of $34.83. The stock has a market cap of $2.66 billion, a P/E ratio of 49.96 and a beta of 1.13. FormFactor has a 12-month low of $22.58 and a 12-month high of $63.63. The company has a current ratio of 4.45, a quick ratio of 3.56 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $171.36 million during the quarter, compared to analysts’ expectations of $170.03 million. FormFactor had a net margin of 7.08% and a return on equity of 6.47%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. On average, analysts forecast that FormFactor will post 0.9 earnings per share for the current year.

Insider Buying and Selling at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $28.24, for a total transaction of $112,960.00. Following the completion of the sale, the chief executive officer now directly owns 514,650 shares in the company, valued at $14,533,716. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis Thomas St sold 3,000 shares of FormFactor stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $31.24, for a total transaction of $93,720.00. Following the sale, the director now owns 40,957 shares of the company’s stock, valued at approximately $1,279,496.68. This represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock valued at $333,560 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

A number of institutional investors have recently made changes to their positions in FORM. Rhumbline Advisers increased its position in shares of FormFactor by 1.5% during the fourth quarter. Rhumbline Advisers now owns 212,071 shares of the semiconductor company’s stock valued at $9,331,000 after acquiring an additional 3,114 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of FormFactor by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 377,979 shares of the semiconductor company’s stock valued at $16,631,000 after purchasing an additional 11,348 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of FormFactor by 22.4% in the fourth quarter. Sanctuary Advisors LLC now owns 18,225 shares of the semiconductor company’s stock valued at $802,000 after purchasing an additional 3,333 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of FormFactor in the fourth quarter valued at approximately $234,000. Finally, D.A. Davidson & CO. grew its holdings in shares of FormFactor by 5.5% in the fourth quarter. D.A. Davidson & CO. now owns 5,510 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 288 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

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.