FormFactor (NASDAQ:FORM) Price Target Lowered to $43.00 at Evercore ISI

FormFactor (NASDAQ:FORM) had its price target lowered by research analysts at Evercore ISI from $50.00 to $43.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the semiconductor company’s stock. Evercore ISI’s price target would suggest a potential upside of 19.98% from the stock’s current price.

FORM has been the subject of several other research reports. TD Cowen reduced their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of FormFactor in a research note on Thursday. Citigroup upgraded shares of FormFactor from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $51.00 in a research note on Monday, January 6th. Finally, B. Riley downgraded FormFactor from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $34.00 in a research report on Thursday. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, FormFactor has an average rating of “Hold” and an average target price of $48.50.

FormFactor Price Performance

Shares of NASDAQ:FORM opened at $35.84 on Thursday. The company has a market cap of $2.78 billion, a PE ratio of 20.60 and a beta of 1.07. FormFactor has a fifty-two week low of $32.71 and a fifty-two week high of $63.63. The firm has a 50-day simple moving average of $42.89 and a 200 day simple moving average of $44.14. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a net margin of 18.29% and a return on equity of 5.38%. On average, sell-side analysts anticipate 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 Monday, February 3rd. The shares were sold at an average price of $38.98, for a total value of $155,920.00. Following the transaction, the chief executive officer now directly owns 518,531 shares of the company’s stock, valued at $20,212,338.38. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 12,000 shares of company stock valued at $496,040. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

A number of hedge funds have recently modified their holdings of FORM. Advisors Asset Management Inc. raised its position in FormFactor by 99.4% during the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 309 shares during the period. Quarry LP increased its holdings in shares of FormFactor by 131.7% in the 3rd quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 523 shares during the period. Manchester Capital Management LLC lifted its position in shares of FormFactor by 63.8% in the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 440 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of FormFactor by 4,732.4% during the fourth quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,609 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in FormFactor by 146.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,986 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 1,181 shares during the period. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.