FormFactor (NASDAQ:FORM) Price Target Raised to $60.00

FormFactor (NASDAQ:FORM) had its price target lifted by Craig Hallum from $50.00 to $60.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also recently weighed in on FORM. Evercore ISI assumed coverage on FormFactor in a report on Tuesday, April 16th. They set an in-line rating and a $50.00 price target on the stock. TheStreet raised FormFactor from a c rating to a b- rating in a research report on Thursday, February 8th. TD Cowen increased their price objective on shares of FormFactor from $37.00 to $48.00 and gave the stock a hold rating in a research note on Thursday. Needham & Company LLC boosted their target price on shares of FormFactor from $46.00 to $53.00 and gave the company a buy rating in a research report on Thursday. Finally, StockNews.com downgraded shares of FormFactor from a buy rating to a hold rating in a research report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $47.30.

FormFactor Price Performance

Shares of NASDAQ FORM opened at $54.00 on Thursday. The firm has a market cap of $4.19 billion, a P/E ratio of 40.91 and a beta of 1.15. FormFactor has a twelve month low of $24.88 and a twelve month high of $54.27. The company has a quick ratio of 3.67, a current ratio of 4.51 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $44.33 and a 200 day moving average of $40.66.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. FormFactor had a net margin of 15.48% and a return on equity of 2.29%. The business had revenue of $168.16 million for the quarter, compared to analysts’ expectations of $165.49 million. As a group, research analysts expect that FormFactor will post 0.68 EPS for the current fiscal year.

Insider Activity at FormFactor

In other news, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the transaction, the chief financial officer now 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 FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $43.38, for a total transaction of $173,520.00. Following the completion of the transaction, the chief executive officer now owns 499,781 shares in the company, valued at $21,680,499.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shai Shahar sold 10,000 shares of the 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 transaction, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at approximately $2,827,978.92. 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 owned by company insiders.

Institutional Trading of FormFactor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in shares of FormFactor by 81.1% during the 4th 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 during the period. Norges Bank bought a new position in shares of FormFactor during the 4th quarter worth $21,454,000. TimesSquare Capital Management LLC purchased a new position in shares of FormFactor during the fourth quarter valued at $15,484,000. Sora Investors LLC purchased a new stake in FormFactor in the third quarter worth about $7,862,000. Finally, Envestnet Asset Management Inc. lifted its stake in FormFactor by 124.3% in the third quarter. Envestnet Asset Management Inc. now owns 405,695 shares of the semiconductor company’s stock worth $14,175,000 after acquiring an additional 224,799 shares during the period. Hedge funds and other institutional investors 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.