FormFactor (NASDAQ:FORM) Given New $52.00 Price Target at Needham & Company LLC

FormFactor (NASDAQ:FORM) had its price target cut by investment analysts at Needham & Company LLC from $60.00 to $52.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 18.69% from the company’s previous close.

A number of other research firms also recently commented on FORM. DA Davidson increased their price objective on FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com lowered shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Stifel Nicolaus boosted their price objective on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Tuesday, July 16th. Finally, TD Cowen dropped their target price on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research report on Thursday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.38.

FormFactor Trading Down 3.0 %

Shares of NASDAQ:FORM opened at $43.81 on Thursday. FormFactor has a 52 week low of $32.16 and a 52 week high of $63.63. The company’s 50 day moving average is $45.32 and its two-hundred day moving average is $50.63. The company has a market cap of $3.38 billion, a PE ratio of 33.19 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.

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

Insider Activity

In related news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction on Tuesday, August 6th. The shares were 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 $543,961.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total value of $181,120.00. Following the transaction, the chief executive officer now owns 530,276 shares in the company, valued at $24,010,897.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jorge Titinger sold 6,770 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total value of $283,933.80. Following the sale, the director now directly owns 12,970 shares of the company’s stock, valued at approximately $543,961.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,770 shares of company stock valued at $650,294 in the last ninety days. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in shares of FormFactor during the second quarter worth $38,000. Redwood Wealth Management Group LLC acquired a new stake in shares of FormFactor in the 2nd quarter worth $43,000. LRI Investments LLC purchased a new stake in shares of FormFactor in the first quarter valued at about $70,000. Covestor Ltd increased its stake in shares of FormFactor by 3,951.3% during the first quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 1,541 shares during the period. Finally, CWM LLC raised its holdings in FormFactor by 25.5% during the second quarter. CWM LLC now owns 1,823 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 370 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.