DA Davidson Boosts FormFactor (NASDAQ:FORM) Price Target to $62.00

FormFactor (NASDAQ:FORM) had its target price lifted by DA Davidson from $55.00 to $62.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock. DA Davidson also issued estimates for FormFactor’s Q3 2024 earnings at $0.23 EPS.

Other analysts also recently issued research reports about the company. TD Cowen lifted their price objective on FormFactor from $48.00 to $60.00 and gave the stock a hold rating in a research note on Thursday. StockNews.com lowered FormFactor from a buy rating to a hold rating in a report on Friday, April 19th. Stifel Nicolaus increased their price target on FormFactor from $50.00 to $55.00 and gave the stock a hold rating in a research report on Tuesday, July 16th. B. Riley increased 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. Finally, Evercore ISI began coverage on FormFactor in a research note on Tuesday, April 16th. They issued an in-line rating and a $50.00 price objective for the company. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $59.63.

FormFactor Stock Up 0.9 %

FORM traded up $0.35 during trading on Thursday, reaching $41.25. The stock had a trading volume of 1,537,029 shares, compared to its average volume of 567,820. FormFactor has a one year low of $29.50 and a one year high of $63.63. The company has a current ratio of 4.46, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $57.16 and its two-hundred day moving average is $49.52. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 30.99 and a beta of 1.12.

Insider Transactions at FormFactor

In other FormFactor news, Director Sheri Rhodes sold 13,319 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total value of $746,130.38. Following the sale, the director now owns 7,634 shares in the company, valued at $427,656.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 transaction of $236,000.00. Following the completion of the transaction, the chief executive officer now directly owns 487,581 shares of the company’s stock, valued at approximately $28,767,279. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sheri Rhodes sold 13,319 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total transaction of $746,130.38. Following the transaction, the director now directly owns 7,634 shares of the company’s stock, valued at $427,656.68. The disclosure for this sale can be found here. Insiders sold a total of 33,536 shares of company stock worth $1,900,394 in the last three months. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in FormFactor by 6.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,640 shares of the semiconductor company’s stock valued at $1,487,000 after acquiring an additional 2,044 shares during the period. Peregrine Capital Management LLC purchased a new stake in FormFactor in the fourth quarter valued at approximately $5,967,000. Louisiana State Employees Retirement System purchased a new stake in shares of FormFactor during the fourth quarter worth approximately $1,623,000. Mackenzie Financial Corp purchased a new position in FormFactor in the fourth quarter worth $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in FormFactor by 18.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,823 shares of the semiconductor company’s stock valued at $743,000 after purchasing an additional 2,725 shares during the last quarter. 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.