FormFactor, Inc. (NASDAQ:FORM) Receives $48.50 Average Price Target from Brokerages

FormFactor, Inc. (NASDAQ:FORM) has received a consensus rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $48.50.

FORM has been the subject of a number of analyst reports. B. Riley lowered shares of FormFactor from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $64.00 to $34.00 in a research note on Thursday, February 6th. Stifel Nicolaus reduced their price objective on shares of FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Citigroup upgraded shares of FormFactor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a research note on Thursday, February 6th. Finally, 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 research note on Thursday, October 31st.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total value of $177,760.00. Following the transaction, the chief executive officer now owns 522,531 shares of the company’s stock, valued at approximately $23,221,277.64. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 12,000 shares of company stock valued at $496,040. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On FormFactor

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC lifted its holdings in FormFactor by 57.3% during the third quarter. CWM LLC now owns 2,867 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 1,044 shares in the last quarter. Creative Planning lifted its holdings in FormFactor by 45.9% during the third quarter. Creative Planning now owns 14,884 shares of the semiconductor company’s stock valued at $685,000 after purchasing an additional 4,684 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in FormFactor by 10.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 134,389 shares of the semiconductor company’s stock valued at $6,182,000 after purchasing an additional 12,408 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in FormFactor by 85.3% during the third quarter. Assenagon Asset Management S.A. now owns 210,304 shares of the semiconductor company’s stock valued at $9,674,000 after purchasing an additional 96,784 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in FormFactor by 9.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,898 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

FormFactor Trading Down 5.4 %

Shares of NASDAQ FORM opened at $35.38 on Monday. The stock has a market cap of $2.74 billion, a P/E ratio of 39.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.83. FormFactor has a 1 year low of $32.71 and a 1 year high of $63.63. The firm has a 50-day moving average of $41.76 and a 200 day moving average of $43.19.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. As a group, sell-side analysts expect that FormFactor will post 0.9 EPS for the current fiscal year.

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.