Citigroup Increases FormFactor (NASDAQ:FORM) Price Target to $46.00

FormFactor (NASDAQ:FORM) had its price objective raised by Citigroup from $37.00 to $46.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s price objective indicates a potential downside of 14.81% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday. Evercore ISI assumed coverage on shares of FormFactor in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 price objective on the stock. Craig Hallum boosted their target price on FormFactor from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, B. Riley raised their price target on FormFactor from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.30.

FormFactor Trading Up 4.3 %

FORM opened at $54.00 on Thursday. FormFactor has a 12 month low of $24.88 and a 12 month high of $54.27. The company has a current ratio of 4.38, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $44.07 and a 200 day moving average of $40.44. The firm has a market cap of $4.18 billion, a P/E ratio of 40.91 and a beta of 1.15.

FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $168.16 million during the quarter, compared to analysts’ expectations of $165.49 million. FormFactor had a return on equity of 2.33% and a net margin of 15.48%. As a group, research analysts forecast that FormFactor will post 0.63 EPS for the current year.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $43.75, for a total value of $175,000.00. Following the completion of the sale, the chief executive officer now directly owns 491,781 shares in the company, valued at $21,515,418.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $44.51, for a total transaction of $445,100.00. Following the completion of the sale, the chief financial officer now owns 27,591 shares in the company, valued at $1,228,075.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $43.75, for a total value of $175,000.00. Following the completion of the transaction, the chief executive officer now owns 491,781 shares in the company, valued at $21,515,418.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock valued at $1,398,580. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of FormFactor by 2.4% during the third quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock valued at $341,007,000 after buying an additional 224,599 shares during the last quarter. Earnest Partners LLC raised its stake in shares of FormFactor by 1.2% during the 3rd quarter. Earnest Partners LLC now owns 6,450,654 shares of the semiconductor company’s stock worth $225,386,000 after acquiring an additional 78,466 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 valued at $80,387,000 after acquiring an additional 862,885 shares in the last quarter. Sei Investments Co. grew its holdings in FormFactor by 10.2% in the fourth quarter. Sei Investments Co. now owns 1,417,633 shares of the semiconductor company’s stock worth $59,129,000 after purchasing an additional 131,282 shares during the last quarter. Finally, Reinhart Partners LLC. increased its position in shares of FormFactor by 2.5% during the third quarter. Reinhart Partners LLC. now owns 834,698 shares of the semiconductor company’s stock worth $29,164,000 after purchasing an additional 20,060 shares in the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

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.