FormFactor (NASDAQ:FORM) Price Target Cut to $42.00 by Analysts at Stifel Nicolaus

FormFactor (NASDAQ:FORM) had its target price dropped by research analysts at Stifel Nicolaus from $48.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 16.49% from the stock’s previous close.

FORM has been the topic of a number of other reports. B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $64.00 to $34.00 in a research report on Thursday. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $51.00 in a report on Monday, January 6th. Evercore ISI cut their target price on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research report on Thursday. Finally, TD Cowen lowered their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, FormFactor currently has an average rating of “Hold” and a consensus price target of $48.50.

FormFactor Price Performance

FormFactor stock traded down $5.07 during midday trading on Thursday, reaching $36.05. 3,234,888 shares of the stock were exchanged, compared to its average volume of 862,933. The firm has a market cap of $2.79 billion, a PE ratio of 20.68 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76. FormFactor has a 52 week low of $32.71 and a 52 week high of $63.63. The company’s fifty day moving average is $43.00 and its 200-day moving average is $44.35.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a return on equity of 5.38% and a net margin of 18.29%. On average, sell-side analysts forecast that FormFactor will post 0.75 EPS for the current year.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total value of $177,760.00. Following the completion of the transaction, the chief executive officer now owns 522,531 shares in the company, valued at approximately $23,221,277.64. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 12,000 shares of company stock valued at $496,040. Company insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund raised its stake in FormFactor by 876.0% during the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock valued at $14,876,000 after acquiring an additional 290,254 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of FormFactor by 29.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 586,700 shares of the semiconductor company’s stock worth $26,988,000 after acquiring an additional 134,170 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of FormFactor by 91.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 257,722 shares of the semiconductor company’s stock worth $11,396,000 after acquiring an additional 123,333 shares during the last quarter. Barclays PLC grew its holdings in shares of FormFactor by 351.9% in the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock worth $6,692,000 after acquiring an additional 113,296 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of FormFactor by 59.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 302,363 shares of the semiconductor company’s stock worth $12,729,000 after acquiring an additional 112,537 shares during the last quarter. 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.