TD Cowen Increases FormFactor (NASDAQ:FORM) Price Target to $60.00

FormFactor (NASDAQ:FORM) had its price objective boosted by equities researchers at TD Cowen from $48.00 to $60.00 in a note issued to investors on Thursday, Briefing.com reports. The firm presently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price objective would suggest a potential upside of 12.02% from the stock’s current price.

Several other analysts have also recently weighed in on the company. B. Riley raised their price target on FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Craig Hallum raised their price target on FormFactor from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Evercore ISI initiated coverage on FormFactor in a research report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price objective on the stock. Stifel Nicolaus increased their price objective on FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, July 16th. Finally, StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $52.78.

FormFactor Stock Performance

NASDAQ:FORM opened at $53.56 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 4.51. FormFactor has a 52-week low of $29.50 and a 52-week high of $63.63. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 40.58 and a beta of 1.11. The business’s fifty day moving average is $57.74 and its 200 day moving average is $49.38.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). FormFactor had a net margin of 15.48% and a return on equity of 2.29%. The company had revenue of $168.73 million for the quarter, compared to the consensus estimate of $165.45 million. Research analysts predict that FormFactor will post 0.72 EPS for the current year.

Insider Transactions at FormFactor

In other news, Director Dennis Thomas St sold 2,000 shares of FormFactor stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $56.30, for a total value of $112,600.00. Following the sale, the director now directly owns 36,701 shares in the company, valued at approximately $2,066,266.30. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Sheri Rhodes sold 13,319 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $56.02, for a total value of $746,130.38. Following the completion of the transaction, the director now owns 7,634 shares in the company, valued at approximately $427,656.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dennis Thomas St sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $56.30, for a total value of $112,600.00. Following the completion of the transaction, the director now owns 36,701 shares of the company’s stock, valued at approximately $2,066,266.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,536 shares of company stock worth $1,900,394. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Riverview Trust Co purchased a new position in FormFactor during the first quarter valued at $28,000. Innealta Capital LLC purchased a new position in FormFactor during the second quarter valued at $38,000. GAMMA Investing LLC purchased a new position in FormFactor during the fourth quarter valued at $55,000. Quadrant Capital Group LLC raised 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 valued at $66,000 after buying an additional 260 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in FormFactor during the first quarter valued at $70,000. 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.