FormFactor (NASDAQ:FORM) Price Target Raised to $46.00

FormFactor (NASDAQ:FORM) had its price target boosted by Citigroup from $37.00 to $46.00 in a report issued on Thursday morning, Benzinga reports. Citigroup currently has a neutral rating on the semiconductor company’s stock.

A number of other research firms have also recently weighed in on FORM. Craig Hallum upped their price objective on shares of FormFactor from $50.00 to $60.00 and gave the company a buy rating in a research report on Thursday. TD Cowen raised their price target on shares of FormFactor from $37.00 to $48.00 and gave the company a hold rating in a research note on Thursday. StockNews.com lowered shares of FormFactor from a buy rating to a hold rating in a research note on Friday, April 19th. TheStreet upgraded shares of FormFactor from a c rating to a b- rating in a research note on Thursday, February 8th. Finally, B. Riley raised their target price on shares of FormFactor from $52.00 to $54.00 and gave the stock a buy rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, FormFactor has a consensus rating of Hold and a consensus price target of $47.30.

FormFactor Price Performance

FORM stock opened at $54.00 on Thursday. FormFactor has a 1 year low of $24.88 and a 1 year high of $54.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.51. The stock’s 50 day moving average price is $44.33 and its 200 day moving average price is $40.63. The firm has a market cap of $4.19 billion, a P/E ratio of 40.91 and a beta of 1.15.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $168.16 million during the quarter, compared to the consensus estimate of $165.49 million. FormFactor had a return on equity of 2.29% and a net margin of 15.48%. On average, sell-side analysts expect that FormFactor will post 0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $45.94, for a total transaction of $183,760.00. Following the completion of the transaction, the chief executive officer now owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $45.94, for a total transaction of $183,760.00. Following the completion of the transaction, the chief executive officer now owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $44.51, for a total transaction of $445,100.00. Following the transaction, the chief financial officer now directly owns 27,591 shares of the company’s stock, valued at approximately $1,228,075.41. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $1,398,580 in the last quarter. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in FormFactor by 81.1% in the fourth quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after purchasing an additional 862,885 shares in the last quarter. Norges Bank acquired a new stake in shares of FormFactor during the fourth quarter worth approximately $21,454,000. TimesSquare Capital Management LLC acquired a new stake in shares of FormFactor in the fourth quarter valued at approximately $15,484,000. Sora Investors LLC acquired a new stake in shares of FormFactor in the third quarter valued at approximately $7,862,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of FormFactor by 124.3% in the third quarter. Envestnet Asset Management Inc. now owns 405,695 shares of the semiconductor company’s stock valued at $14,175,000 after purchasing an additional 224,799 shares in the last quarter. Institutional investors and hedge funds 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.