Brokerages Set FormFactor, Inc. (NASDAQ:FORM) PT at $59.63

FormFactor, Inc. (NASDAQ:FORM) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $59.63.

Several equities analysts have recently commented on FORM shares. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. DA Davidson upped their target price on FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their price target on FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, July 16th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of FormFactor in a research note on Thursday, August 1st. Finally, B. Riley raised their price objective on shares of FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, June 20th.

FormFactor Stock Down 1.9 %

Shares of FormFactor stock opened at $43.94 on Friday. FormFactor has a 1 year low of $31.51 and a 1 year high of $63.63. The company has a market cap of $3.39 billion, a P/E ratio of 33.29 and a beta of 1.11. The company has a current ratio of 4.46, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $48.40 and a 200 day moving average price of $50.57.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. The business had revenue of $197.47 million during the quarter, compared to analyst estimates of $195.01 million. As a group, analysts expect that FormFactor will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.00, for a total value of $236,000.00. Following the transaction, the chief executive officer now owns 487,581 shares of the company’s stock, valued at $28,767,279. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total transaction of $283,933.80. Following the completion of the sale, the director now owns 12,970 shares in the company, valued at approximately $543,961.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.00, for a total value of $236,000.00. Following the completion of the sale, the chief executive officer now directly owns 487,581 shares in the company, valued at approximately $28,767,279. The disclosure for this sale can be found here. Insiders sold 18,770 shares of company stock valued at $908,894 over the last 90 days. 0.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FormFactor

Hedge funds have recently modified their holdings of the business. Jump Financial LLC acquired a new position in FormFactor during the 4th quarter valued at $310,000. Quadrant Capital Group LLC lifted its stake in shares of FormFactor by 19.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 260 shares during the period. Norges Bank bought a new stake in shares of FormFactor in the fourth quarter valued at about $21,454,000. Dynamic Technology Lab Private Ltd acquired a new stake in FormFactor during the fourth quarter worth about $644,000. Finally, Wells Fargo & Company MN increased its stake in FormFactor by 0.8% during the fourth quarter. Wells Fargo & Company MN now owns 305,551 shares of the semiconductor company’s stock valued at $12,745,000 after acquiring an additional 2,417 shares during the period. 98.76% of the stock is owned by 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.