Brokerages Set FormFactor, Inc. (FORM) PT at $16.43
Shares of FormFactor, Inc. (NASDAQ:FORM) have received a consensus rating of “Buy” from the eleven research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $16.43.
A number of brokerages have commented on FORM. B. Riley reiterated a “buy” rating and issued a $17.00 price target on shares of FormFactor in a research note on Saturday, July 1st. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target (up previously from $16.00) on shares of FormFactor in a research note on Thursday. TheStreet upgraded shares of FormFactor from a “c+” rating to a “b-” rating in a research note on Thursday, May 11th. BidaskClub cut shares of FormFactor from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $15.00 price target (up previously from $13.50) on shares of FormFactor in a research note on Monday, June 5th.
Shares of FormFactor (NASDAQ:FORM) traded up 2.95% on Friday, reaching $13.95. 776,983 shares of the company traded hands. FormFactor has a 52-week low of $8.55 and a 52-week high of $15.58. The stock’s market cap is $1.01 billion. The stock has a 50 day moving average of $12.96 and a 200 day moving average of $12.42.
FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. The firm had revenue of $144 million during the quarter, compared to analysts’ expectations of $134.53 million. FormFactor had a negative net margin of 1.32% and a positive return on equity of 15.85%. The company’s revenue for the quarter was up 73.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. On average, analysts expect that FormFactor will post $1.20 earnings per share for the current year.
In other news, Director Richard Delateur sold 45,262 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $14.08, for a total value of $637,288.96. Following the transaction, the director now directly owns 55,262 shares of the company’s stock, valued at $778,088.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward Rogas, Jr. sold 6,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $13.90, for a total transaction of $83,400.00. Following the completion of the transaction, the director now directly owns 56,000 shares in the company, valued at $778,400. The disclosure for this sale can be found here. Insiders sold 399,083 shares of company stock worth $5,749,928 over the last three months. Insiders own 2.84% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Cadence Capital Management LLC raised its position in shares of FormFactor by 5.8% in the second quarter. Cadence Capital Management LLC now owns 104,806 shares of the semiconductor company’s stock valued at $1,300,000 after buying an additional 5,725 shares during the last quarter. Columbus Circle Investors raised its position in FormFactor by 5.0% in the second quarter. Columbus Circle Investors now owns 116,641 shares of the semiconductor company’s stock worth $1,446,000 after buying an additional 5,503 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in FormFactor during the second quarter worth approximately $4,044,000. BNP Paribas Arbitrage SA raised its position in FormFactor by 8,988.5% in the second quarter. BNP Paribas Arbitrage SA now owns 137,782 shares of the semiconductor company’s stock worth $1,708,000 after buying an additional 136,266 shares in the last quarter. Finally, Comerica Bank acquired a new position in FormFactor during the second quarter worth approximately $1,010,000. 89.36% of the stock is currently owned by institutional investors.
FormFactor Company Profile
FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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