FormFactor (NASDAQ:FORM) Price Target Raised to $46.00

FormFactor (NASDAQ:FORM) had its price objective raised by Citigroup from $37.00 to $46.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other analysts have also recently commented on FORM. Stifel Nicolaus upped their price target on FormFactor from $36.00 to $42.00 and gave the stock a hold rating in a research report on Tuesday, April 30th. Craig Hallum lifted their price target on shares of FormFactor from $50.00 to $60.00 and gave the company a buy rating in a report on Thursday. Evercore ISI started coverage on shares of FormFactor in a report on Tuesday, April 16th. They set an in-line rating and a $50.00 price target on the stock. StockNews.com downgraded shares of FormFactor from a buy rating to a hold rating in a report on Friday, April 19th. Finally, B. Riley lifted their price target on shares of FormFactor from $52.00 to $54.00 and gave the company a buy rating in a report on Thursday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, FormFactor has an average rating of Hold and a consensus price target of $47.30.

FormFactor Stock Performance

FORM stock traded up $2.25 on Thursday, hitting $54.00. The company had a trading volume of 1,045,249 shares, compared to its average volume of 505,847. FormFactor has a 12-month low of $24.88 and a 12-month high of $54.27. The stock’s 50-day simple moving average is $44.33 and its 200 day simple moving average is $40.63. The company has a current ratio of 4.51, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 40.91 and a beta of 1.15.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data 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 net margin of 15.48% and a return on equity of 2.29%. The firm had revenue of $168.16 million for the quarter, compared to analysts’ expectations of $165.49 million. As a group, equities research analysts expect that FormFactor will post 0.68 earnings per share for the current fiscal year.

Insider Activity at FormFactor

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the transaction, the chief financial officer now owns 67,141 shares in the company, valued at $2,827,978.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were 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 $2,827,978.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $43.75, for a total transaction of $175,000.00. Following the completion of the transaction, the chief executive officer now owns 491,781 shares in the company, valued at $21,515,418.75. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock valued at $1,398,580 over the last 90 days. 0.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new stake in shares of FormFactor during the first quarter valued at about $28,000. GAMMA Investing LLC purchased a new position in shares of FormFactor in the 4th quarter valued at approximately $55,000. Quadrant Capital Group LLC raised its position in shares of FormFactor by 19.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 260 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of FormFactor in the 3rd quarter valued at approximately $70,000. Finally, Mackenzie Financial Corp purchased a new position in shares of FormFactor in the 4th quarter valued at approximately $202,000. 98.76% of the stock is currently owned by institutional investors.

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.