Needham & Company LLC Raises FormFactor (NASDAQ:FORM) Price Target to $53.00

FormFactor (NASDAQ:FORM) had its price target boosted by Needham & Company LLC from $46.00 to $53.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other analysts also recently issued reports on FORM. Evercore ISI initiated coverage on FormFactor in a research report on Tuesday, April 16th. They issued an in-line rating and a $50.00 price objective on the stock. StockNews.com downgraded shares of FormFactor from a buy rating to a hold rating in a report on Friday, April 19th. TD Cowen upped their price objective on shares of FormFactor from $37.00 to $48.00 and gave the company a hold rating in a research note on Thursday. TheStreet raised shares of FormFactor from a c rating to a b- rating in a research note on Thursday, February 8th. Finally, Stifel Nicolaus increased their price target on FormFactor from $36.00 to $42.00 and gave the stock a hold rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $47.30.

FormFactor Stock Performance

Shares of NASDAQ FORM traded up $2.25 during midday trading on Thursday, reaching $54.00. 1,045,249 shares of the company were exchanged, compared to its average volume of 505,847. The stock has a market cap of $4.19 billion, a P/E ratio of 40.91 and a beta of 1.15. FormFactor has a 1 year low of $24.88 and a 1 year high of $54.27. The stock has a fifty day simple moving average of $44.33 and a 200 day simple moving average of $40.58. The company has a current ratio of 4.51, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 15.48% and a return on equity of 2.29%. On average, research analysts forecast that FormFactor will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $43.38, for a total value of $173,520.00. Following 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 legal filing with the SEC, which is available at this hyperlink. In related news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.12, for a total transaction of $421,200.00. Following the sale, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at approximately $2,827,978.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Friday, March 1st. The stock was 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 directly owns 499,781 shares of the company’s stock, valued at approximately $21,680,499.78. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock valued at $1,398,580 over the last 90 days. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

Several institutional investors and hedge funds have recently bought and sold shares of FORM. SG Americas Securities LLC bought a new stake in shares of FormFactor in the 3rd quarter worth approximately $427,000. Reinhart Partners LLC. increased its holdings in shares of FormFactor by 2.5% in the 3rd quarter. Reinhart Partners LLC. now owns 834,698 shares of the semiconductor company’s stock worth $29,164,000 after acquiring an additional 20,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in FormFactor by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,098 shares of the semiconductor company’s stock valued at $528,000 after purchasing an additional 1,989 shares during the last quarter. Emerald Advisers LLC boosted its stake in FormFactor by 58.3% during the 3rd quarter. Emerald Advisers LLC now owns 481,911 shares of the semiconductor company’s stock valued at $16,838,000 after purchasing an additional 177,448 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its position in FormFactor by 98.2% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 395,440 shares of the semiconductor company’s stock worth $13,817,000 after purchasing an additional 195,898 shares during the last quarter. 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.