Analysts Set FormFactor, Inc. (NASDAQ:FORM) Price Target at $59.63

Shares of FormFactor, Inc. (NASDAQ:FORM) have earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $59.63.

Several research firms have recently weighed in on FORM. StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Stifel Nicolaus boosted their price objective on FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of FormFactor in a research note on Thursday, August 1st. TD Cowen lifted their target price on shares of FormFactor from $48.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, DA Davidson upped their price target on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 1st.

Insiders Place Their Bets

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total transaction of $181,120.00. Following the completion of the sale, the chief executive officer now owns 530,276 shares of the company’s stock, valued at approximately $24,010,897.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $45.28, for a total transaction of $181,120.00. Following the transaction, the chief executive officer now owns 530,276 shares of the company’s stock, valued at approximately $24,010,897.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total transaction of $283,933.80. Following the completion of the sale, the director now directly owns 12,970 shares of the company’s stock, valued at $543,961.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,770 shares of company stock worth $854,014 in the last quarter. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its holdings in FormFactor by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,800 shares of the semiconductor company’s stock worth $2,349,000 after acquiring an additional 200 shares during the period. Xponance Inc. lifted its position in shares of FormFactor by 5.1% during the 2nd quarter. Xponance Inc. now owns 4,925 shares of the semiconductor company’s stock worth $298,000 after purchasing an additional 241 shares during the last quarter. Arizona State Retirement System boosted its stake in FormFactor by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 21,724 shares of the semiconductor company’s stock valued at $1,315,000 after purchasing an additional 331 shares during the period. CWM LLC grew its holdings in FormFactor by 25.5% in the 2nd quarter. CWM LLC now owns 1,823 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 370 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in FormFactor by 21.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,266 shares of the semiconductor company’s stock worth $137,000 after buying an additional 406 shares during the period. 98.76% of the stock is currently owned by institutional investors and hedge funds.

FormFactor Price Performance

Shares of FormFactor stock opened at $43.91 on Tuesday. FormFactor has a 52 week low of $31.51 and a 52 week high of $63.63. The company has a current ratio of 4.46, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.39 billion, a PE ratio of 33.27 and a beta of 1.11. The company’s 50-day moving average price is $46.01 and its two-hundred day moving average price is $50.74.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $197.47 million for the quarter, compared to the consensus estimate of $195.01 million. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. As a group, sell-side analysts anticipate that FormFactor will post 0.74 EPS for the current fiscal year.

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.