Needham & Company LLC Boosts FormFactor (NASDAQ:FORM) Price Target to $53.00

FormFactor (NASDAQ:FORM) had its price target boosted by Needham & Company LLC from $46.00 to $53.00 in a research note released on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also weighed in on FORM. Stifel Nicolaus raised their target price on FormFactor from $36.00 to $42.00 and gave the stock a hold rating in a research report on Tuesday, April 30th. StockNews.com lowered FormFactor from a buy rating to a hold rating in a research report on Friday, April 19th. Evercore ISI started coverage on FormFactor in a research note on Tuesday, April 16th. They set an in-line rating and a $50.00 price target on the stock. TD Cowen raised their price target on FormFactor from $37.00 to $48.00 and gave the stock a hold rating in a research note on Thursday. Finally, TheStreet upgraded FormFactor from a c rating to a b- rating in a research note on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $47.30.

FormFactor Stock Up 4.3 %

FORM stock traded up $2.25 during mid-day trading on Thursday, reaching $54.00. The company had a trading volume of 1,045,249 shares, compared to its average volume of 505,847. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.51. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 40.91 and a beta of 1.15. The firm has a fifty day simple moving average of $44.33 and a 200 day simple moving average of $40.63. FormFactor has a fifty-two week low of $24.88 and a fifty-two week high of $54.27.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. FormFactor had a return on equity of 2.29% and a net margin of 15.48%. The business had revenue of $168.16 million for the quarter, compared to analyst estimates of $165.49 million. Analysts forecast that FormFactor will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at FormFactor

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of FormFactor stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.12, for a total value of $421,200.00. Following the transaction, the chief financial officer now directly owns 67,141 shares in the company, valued at approximately $2,827,978.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Shai Shahar sold 10,000 shares of FormFactor stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.12, for a total value of $421,200.00. Following the sale, the chief financial officer now directly owns 67,141 shares in the company, valued at $2,827,978.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $45.94, for a total value of $183,760.00. Following the completion of the sale, the chief executive officer now owns 495,781 shares in the company, valued at $22,776,179.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,000 shares of company stock worth $1,398,580. 0.96% of the stock is currently owned by insiders.

Institutional Trading of FormFactor

A number of institutional investors have recently modified their holdings of the business. Riverview Trust Co acquired a new position in FormFactor during the first quarter worth $28,000. GAMMA Investing LLC acquired a new position in FormFactor during the fourth quarter worth $55,000. Quadrant Capital Group LLC raised its holdings in FormFactor by 19.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 260 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in FormFactor during the third quarter worth $70,000. Finally, Mackenzie Financial Corp acquired a new position in FormFactor during the fourth quarter worth $202,000. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

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.