Cantor Fitzgerald Forecasts Strong Price Appreciation for FormFactor (NASDAQ:FORM) Stock

FormFactor (NASDAQ:FORM) had its price objective raised by equities researchers at Cantor Fitzgerald from $75.00 to $100.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 39.84% from the stock’s current price.

Several other brokerages have also weighed in on FORM. Citigroup lifted their price objective on FormFactor from $62.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Itau BBA Securities raised shares of FormFactor to an “outperform” rating in a research report on Tuesday, January 27th. TD Cowen reaffirmed a “hold” rating on shares of FormFactor in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of FormFactor in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded FormFactor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.89.

FormFactor Stock Performance

NASDAQ FORM traded up $1.02 on Monday, hitting $71.51. 253,533 shares of the stock traded hands, compared to its average volume of 1,457,865. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.46 and a current ratio of 4.30. The business’s fifty day moving average is $62.93 and its two-hundred day moving average is $46.51. FormFactor has a 12 month low of $22.58 and a 12 month high of $85.49. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 137.52 and a beta of 1.12.

Insider Activity

In related news, Director Kelley Steven-Waiss sold 2,700 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $55.97, for a total transaction of $151,119.00. Following the completion of the transaction, the director directly owned 32,779 shares in the company, valued at $1,834,640.63. The trade was a 7.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis Thomas St sold 2,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $49.85, for a total value of $99,700.00. Following the completion of the transaction, the director owned 38,957 shares in the company, valued at $1,942,006.45. This represents a 4.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,466 shares of company stock worth $4,683,377 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake in FormFactor by 4.0% in the second quarter. Bank of America Corp DE now owns 2,806,905 shares of the semiconductor company’s stock valued at $96,586,000 after purchasing an additional 108,487 shares in the last quarter. Reinhart Partners LLC. increased its holdings in shares of FormFactor by 26.3% in the 3rd quarter. Reinhart Partners LLC. now owns 2,404,854 shares of the semiconductor company’s stock worth $87,585,000 after buying an additional 500,156 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of FormFactor by 3.2% during the 3rd quarter. Alliancebernstein L.P. now owns 2,397,161 shares of the semiconductor company’s stock valued at $87,305,000 after buying an additional 73,644 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of FormFactor by 170.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,094,421 shares of the semiconductor company’s stock valued at $72,069,000 after buying an additional 1,319,345 shares in the last quarter. Finally, Sei Investments Co. grew its position in FormFactor by 3.5% in the third quarter. Sei Investments Co. now owns 1,640,144 shares of the semiconductor company’s stock worth $59,734,000 after acquiring an additional 55,101 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

About FormFactor

FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.