FormFactor, Inc. (FORM) Stock Rating Upgraded by Zacks Investment Research
FormFactor, Inc. (NASDAQ:FORM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $13.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 10.64% from the company’s current price.
According to Zacks, “FormFactor, is the largest probe card manufacturer in the semiconductor industry as well as the largest supplier of probe cards to the SOC probe card market. The company's fourth quarter results beat the Zacks Consensus Estimate on both counts. Over the last one year, the stock has underperformed te Zacks Electronics-Semiconductor industry. The company has proved agile in dealing with the secular decline in the PC market by increasing focus on the Mobile SoC and Mobile DRAM probe card segments where growth prospects remain very bright. However, nature of the business necessitates long lead times and customer concentration, which should be kept in mind when investing in the shares.”
Other research analysts have also issued research reports about the stock. B. Riley restated a “buy” rating and issued a $12.50 price target on shares of FormFactor in a report on Friday, October 28th. Stifel Nicolaus raised their price target on shares of FormFactor from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of FormFactor in a report on Thursday, February 9th. DA Davidson raised their price target on shares of FormFactor from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, January 11th. Finally, TheStreet upgraded shares of FormFactor from a “hold” rating to a “buy” rating in a report on Monday, December 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $13.86.
Shares of FormFactor (NASDAQ:FORM) opened at 11.75 on Friday. The stock’s market cap is $831.97 million. FormFactor has a 52-week low of $6.48 and a 52-week high of $13.15. The company has a 50-day moving average of $11.86 and a 200 day moving average of $10.82.
FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. FormFactor had a negative net margin of 1.71% and a positive return on equity of 6.00%. The firm had revenue of $123.90 million for the quarter, compared to analyst estimates of $120.46 million. During the same quarter last year, the firm posted $0.10 earnings per share. FormFactor’s revenue for the quarter was up 72.6% compared to the same quarter last year. Equities research analysts forecast that FormFactor will post $0.87 EPS for the current fiscal year.
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In other FormFactor news, Director Dennis Thomas St sold 18,404 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $12.15, for a total value of $223,608.60. Following the completion of the sale, the director now owns 183,337 shares of the company’s stock, valued at $2,227,544.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 255,772 shares of company stock valued at $3,083,817 in the last ninety days. 2.84% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of FORM. Sei Investments Co. increased its stake in shares of FormFactor by 8.5% in the third quarter. Sei Investments Co. now owns 9,250 shares of the company’s stock valued at $101,000 after buying an additional 724 shares during the period. Legal & General Group Plc increased its stake in FormFactor by 11.5% in the second quarter. Legal & General Group Plc now owns 11,805 shares of the company’s stock worth $105,000 after buying an additional 1,222 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in FormFactor during the third quarter worth $151,000. Two Sigma Securities LLC bought a new stake in FormFactor during the third quarter worth $165,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in FormFactor during the third quarter worth $220,000. 91.52% of the stock is owned by institutional investors.
FormFactor, Inc designs, develops, manufactures, sells and supports semiconductor probe card products. The Company is a supplier of probe cards to the manufacturers of dynamic random-access memory (DRAM), flash memory devices, microprocessor, chipset and other system on chip (SoC) devices. Semiconductor manufacturers use its probe cards to perform wafer test, which is the testing of the semiconductor die, or chips.
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