FormFactor (NASDAQ:FORM) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of FormFactor (NASDAQ:FORMFree Report) in a report released on Thursday morning, Benzinga reports. The firm currently has a $46.00 price target on the semiconductor company’s stock.

Separately, TD Cowen upped their target price on shares of FormFactor from $33.00 to $37.00 and gave the company a market perform rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $39.80.

Get Our Latest Stock Analysis on FORM

FormFactor Trading Up 2.2 %

FormFactor stock opened at $38.96 on Thursday. The firm has a 50-day moving average of $39.85 and a 200-day moving average of $36.24. FormFactor has a one year low of $24.88 and a one year high of $45.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.91 and a quick ratio of 3.05. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -432.84 and a beta of 1.17.

FormFactor (NASDAQ:FORMGet Free Report) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $168.16 million for the quarter, compared to analysts’ expectations of $165.49 million. FormFactor had a negative net margin of 1.09% and a positive return on equity of 1.24%. On average, equities analysts expect that FormFactor will post 0.28 earnings per share for the current fiscal year.

Insider Transactions at FormFactor

In other news, Director Rebeca Obregon-Jimenez sold 8,490 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $37.51, for a total transaction of $318,459.90. Following the transaction, the director now directly owns 11,603 shares of the company’s stock, valued at $435,228.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Rebeca Obregon-Jimenez sold 8,490 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $37.51, for a total transaction of $318,459.90. Following the sale, the director now owns 11,603 shares in the company, valued at approximately $435,228.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis Thomas St sold 3,792 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $38.24, for a total transaction of $145,006.08. Following the sale, the director now owns 38,701 shares in the company, valued at approximately $1,479,926.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,900 shares of company stock valued at $1,119,711. 1.03% of the stock is currently owned by company insiders.

Institutional Trading of FormFactor

Several large investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new stake in FormFactor in the second quarter valued at approximately $218,000. Lisanti Capital Growth LLC acquired a new stake in FormFactor in the third quarter valued at approximately $2,597,000. Reinhart Partners LLC. boosted its position in FormFactor by 42.2% in the second quarter. Reinhart Partners LLC. now owns 814,638 shares of the semiconductor company’s stock valued at $27,877,000 after buying an additional 241,735 shares in the last quarter. SG Americas Securities LLC acquired a new stake in FormFactor in the third quarter valued at approximately $427,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in FormFactor in the third quarter valued at approximately $1,583,000. Institutional investors and hedge funds own 93.64% of the company’s stock.

About FormFactor

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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. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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