FormFactor’s (FORM) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of FormFactor (NASDAQ:FORM) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $70.00 target price on the semiconductor company’s stock.

A number of other research analysts have also weighed in on the stock. Citigroup lifted their price target on shares of FormFactor from $37.00 to $46.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Stifel Nicolaus upped their price objective on shares of FormFactor from $50.00 to $55.00 and gave the company a hold rating in a report on Tuesday, July 16th. B. Riley boosted their target price on shares of FormFactor from $65.00 to $74.00 and gave the company a buy rating in a research report on Thursday, June 20th. TD Cowen upped their price objective on shares of FormFactor from $48.00 to $60.00 and gave the stock a hold rating in a research report on Thursday. Finally, Craig Hallum upped their price objective on shares of FormFactor from $50.00 to $60.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $59.63.

FormFactor Price Performance

Shares of NASDAQ:FORM traded down $6.35 during midday trading on Thursday, reaching $40.90. 2,245,556 shares of the company’s stock were exchanged, compared to its average volume of 730,909. The company’s 50 day simple moving average is $57.16 and its two-hundred day simple moving average is $49.45. The firm has a market capitalization of $3.16 billion, a PE ratio of 30.99 and a beta of 1.12. FormFactor has a 12 month low of $29.50 and a 12 month high of $63.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 4.46.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). FormFactor had a return on equity of 4.18% and a net margin of 17.20%. The business had revenue of $168.73 million for the quarter, compared to analyst estimates of $165.45 million. Equities research analysts expect that FormFactor will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.00, for a total transaction of $236,000.00. Following the sale, the chief executive officer now owns 487,581 shares in the company, valued at approximately $28,767,279. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Dennis Thomas St sold 2,000 shares of FormFactor stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $56.30, for a total value of $112,600.00. Following the completion of the sale, the director now directly owns 36,701 shares in the company, valued at $2,066,266.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $59.00, for a total value of $236,000.00. Following the completion of the sale, the chief executive officer now owns 487,581 shares of the company’s stock, valued at $28,767,279. The disclosure for this sale can be found here. Insiders have sold 33,536 shares of company stock worth $1,900,394 in the last quarter. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Large investors have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in FormFactor in the first quarter valued at approximately $28,000. Innealta Capital LLC acquired a new position in shares of FormFactor during the 2nd quarter worth approximately $38,000. GAMMA Investing LLC acquired a new position in FormFactor in the 4th quarter valued at $55,000. Quadrant Capital Group LLC raised its stake in FormFactor by 19.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 260 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in FormFactor in the 1st quarter valued at $70,000. 98.76% of the stock is currently owned by institutional investors.

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.