FormFactor (NASDAQ:FORM) Coverage Initiated at Evercore ISI

Equities researchers at Evercore ISI initiated coverage on shares of FormFactor (NASDAQ:FORM) in a report released on Tuesday, Marketbeat reports. The brokerage set an “in-line” rating and a $50.00 price target on the semiconductor company’s stock. Evercore ISI’s price target suggests a potential upside of 16.36% from the stock’s current price.

A number of other brokerages also recently weighed in on FORM. TheStreet raised shares of FormFactor from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Needham & Company LLC reissued a “buy” rating and issued a $46.00 price target on shares of FormFactor in a report on Thursday, February 8th. TD Cowen upped their price target on shares of FormFactor from $33.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Finally, StockNews.com raised shares of FormFactor from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.56.

FormFactor Stock Performance

FORM stock opened at $42.97 on Tuesday. The company has a market capitalization of $3.33 billion, a P/E ratio of 40.54 and a beta of 1.18. The company has a 50-day simple moving average of $43.55 and a 200 day simple moving average of $39.75. FormFactor has a fifty-two week low of $24.88 and a fifty-two week high of $47.94. The company has a quick ratio of 3.52, a current ratio of 4.38 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $168.16 million during the quarter, compared to the consensus estimate of $165.49 million. FormFactor had a net margin of 12.42% and a return on equity of 2.43%. Sell-side analysts predict that FormFactor will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at FormFactor

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the completion of the sale, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $45.94, for a total value of $183,760.00. Following the transaction, the chief executive officer now owns 495,781 shares in the company, valued at approximately $22,776,179.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the completion of the transaction, the chief financial officer now owns 67,141 shares in the company, valued at approximately $2,827,978.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,000 shares of company stock valued at $1,223,580. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FormFactor

Large investors have recently made changes to their positions in the business. Tudor Investment Corp Et Al increased its holdings in shares of FormFactor by 368.7% in the 3rd quarter. Tudor Investment Corp Et Al now owns 83,760 shares of the semiconductor company’s stock valued at $2,927,000 after purchasing an additional 65,889 shares during the period. Dark Forest Capital Management LP increased its holdings in FormFactor by 240.4% in the third quarter. Dark Forest Capital Management LP now owns 23,649 shares of the semiconductor company’s stock worth $826,000 after buying an additional 16,702 shares during the last quarter. Vanguard Group Inc. increased its holdings in FormFactor by 2.4% in the third quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock worth $341,007,000 after buying an additional 224,599 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in FormFactor by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 815,716 shares of the semiconductor company’s stock worth $28,501,000 after buying an additional 45,248 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in FormFactor in the third quarter worth approximately $301,000. Institutional investors and hedge funds 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.