TD Cowen Increases FormFactor (NASDAQ:FORM) Price Target to $60.00

FormFactor (NASDAQ:FORM) had its target price lifted by equities research analysts at TD Cowen from $48.00 to $60.00 in a note issued to investors on Thursday, Briefing.com reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price objective suggests a potential upside of 12.02% from the stock’s previous close.

Several other research firms also recently commented on FORM. Citigroup increased their price objective on FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. B. Riley upped their target price on FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Craig Hallum upped their target price on FormFactor from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Needham & Company LLC upped their target price on FormFactor from $46.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.78.

FormFactor Stock Up 6.1 %

NASDAQ FORM opened at $53.56 on Thursday. The business has a fifty day moving average price of $57.74 and a 200 day moving average price of $49.38. FormFactor has a one year low of $29.50 and a one year high of $63.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 4.51. The company has a market cap of $4.13 billion, a P/E ratio of 40.58 and a beta of 1.11.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). FormFactor had a net margin of 15.48% and a return on equity of 2.29%. The firm had revenue of $168.73 million during the quarter, compared to analyst estimates of $165.45 million. Research analysts anticipate that FormFactor will post 0.72 EPS for the current fiscal year.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $59.00, for a total transaction of $236,000.00. Following the completion of the transaction, the chief executive officer now directly owns 487,581 shares in the company, valued at approximately $28,767,279. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $59.00, for a total value of $236,000.00. Following the sale, the chief executive officer now owns 487,581 shares of the company’s stock, valued at approximately $28,767,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheri Rhodes sold 13,319 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total value of $746,130.38. Following the completion of the sale, the director now directly owns 7,634 shares in the company, valued at approximately $427,656.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,536 shares of company stock worth $1,900,394. 0.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FormFactor

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in FormFactor by 6.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,640 shares of the semiconductor company’s stock worth $1,487,000 after buying an additional 2,044 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in FormFactor during the 4th quarter worth approximately $5,967,000. Louisiana State Employees Retirement System purchased a new position in FormFactor during the 4th quarter worth approximately $1,623,000. Mackenzie Financial Corp purchased a new position in shares of FormFactor in the 4th quarter valued at approximately $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of FormFactor by 18.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,823 shares of the semiconductor company’s stock valued at $743,000 after purchasing an additional 2,725 shares during the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

FormFactor Company Profile

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.