FormFactor (NASDAQ:FORM) Given New $43.00 Price Target at Evercore ISI

FormFactor (NASDAQ:FORM) had its price target lowered by Evercore ISI from $50.00 to $43.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an in-line rating on the semiconductor company’s stock.

FORM has been the subject of several other reports. B. Riley downgraded shares of FormFactor from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $64.00 to $34.00 in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a research note on Thursday. TD Cowen reduced their price objective on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Finally, Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.50.

FormFactor Stock Down 6.8 %

FormFactor stock opened at $38.33 on Thursday. FormFactor has a 1-year low of $32.71 and a 1-year high of $63.63. The business has a fifty day moving average price of $42.98 and a 200-day moving average price of $44.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 22.03 and a beta of 1.07.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a net margin of 18.29% and a return on equity of 5.38%. Equities research analysts forecast that FormFactor will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total transaction of $177,760.00. Following the sale, the chief executive officer now directly owns 522,531 shares of the company’s stock, valued at $23,221,277.64. This represents a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 12,000 shares of company stock valued at $496,040. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

A number of large investors have recently bought and sold shares of the company. Inceptionr LLC raised its holdings in FormFactor by 118.9% during the fourth quarter. Inceptionr LLC now owns 11,468 shares of the semiconductor company’s stock worth $505,000 after purchasing an additional 6,229 shares in the last quarter. Raymond James Financial Inc. acquired a new position in FormFactor during the 4th quarter worth approximately $14,222,000. Proficio Capital Partners LLC purchased a new position in shares of FormFactor during the 4th quarter worth approximately $1,123,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of FormFactor by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 920,441 shares of the semiconductor company’s stock valued at $40,499,000 after buying an additional 34,338 shares during the period. Finally, Bailard Inc. purchased a new stake in shares of FormFactor in the fourth quarter valued at approximately $238,000. Hedge funds and other institutional investors 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.