DA Davidson Boosts FormFactor (NASDAQ:FORM) Price Target to $62.00

FormFactor (NASDAQ:FORM) had its price target upped by DA Davidson from $55.00 to $62.00 in a research note issued to investors on Thursday, Benzinga reports. DA Davidson currently has a buy rating on the semiconductor company’s stock. DA Davidson also issued estimates for FormFactor’s Q3 2024 earnings at $0.23 EPS.

A number of other research firms have also issued reports on FORM. Evercore ISI began coverage on shares of FormFactor in a report on Tuesday, April 16th. They set an in-line rating and a $50.00 target price for the company. Needham & Company LLC reaffirmed a buy rating and issued a $70.00 target price on shares of FormFactor in a research report on Thursday. Stifel Nicolaus upped their target price on shares of FormFactor from $50.00 to $55.00 and gave the company a hold rating in a research report on Tuesday, July 16th. B. Riley increased their price target on shares of FormFactor from $65.00 to $74.00 and gave the stock a buy rating in a research report on Thursday, June 20th. Finally, TD Cowen increased their price target on shares of FormFactor from $48.00 to $60.00 and gave the stock a hold rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $59.63.

FormFactor Stock Performance

Shares of NASDAQ:FORM traded up $0.35 during trading on Thursday, hitting $41.25. 1,537,029 shares of the stock traded hands, compared to its average volume of 567,820. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 30.99 and a beta of 1.12. The company has a fifty day moving average price of $57.16 and a two-hundred day moving average price of $49.52. The company has a quick ratio of 3.67, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. FormFactor has a 52-week low of $29.50 and a 52-week high of $63.63.

Insider Buying and Selling at FormFactor

In related news, Director Sheri Rhodes sold 13,319 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $56.02, for a total transaction of $746,130.38. Following the completion of the sale, the director now directly owns 7,634 shares of the company’s stock, valued at $427,656.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other FormFactor news, CFO Shai Shahar sold 6,094 shares of FormFactor stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $55.76, for a total value of $339,801.44. Following the completion of the sale, the chief financial officer now owns 15,669 shares in the company, valued at approximately $873,703.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sheri Rhodes sold 13,319 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total transaction of $746,130.38. Following the transaction, the director now directly owns 7,634 shares of the company’s stock, valued at approximately $427,656.68. The disclosure for this sale can be found here. Insiders have sold 33,536 shares of company stock worth $1,900,394 over the last three months. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FORM. Vanguard Group Inc. grew its holdings in shares of FormFactor by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,622,484 shares of the semiconductor company’s stock worth $439,074,000 after purchasing an additional 154,361 shares during the period. Earnest Partners LLC grew its stake in shares of FormFactor by 0.6% in the first quarter. Earnest Partners LLC now owns 6,091,217 shares of the semiconductor company’s stock worth $277,942,000 after purchasing an additional 37,781 shares in the last quarter. Hood River Capital Management LLC boosted its position in shares of FormFactor by 7.2% in the 1st quarter. Hood River Capital Management LLC now owns 2,079,052 shares of the semiconductor company’s stock valued at $94,867,000 after purchasing an additional 140,223 shares during the period. Wellington Management Group LLP lifted its stake in FormFactor by 81.1% in the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after acquiring an additional 862,885 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in FormFactor by 5.4% in the 1st quarter. Sei Investments Co. now owns 1,493,665 shares of the semiconductor company’s stock worth $68,156,000 after acquiring an additional 76,032 shares in 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.