Evercore ISI Begins Coverage on FormFactor (NASDAQ:FORM)

Evercore ISI started coverage on shares of FormFactor (NASDAQ:FORM) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm issued an in-line rating and a $50.00 price objective on the semiconductor company’s stock.

Several other equities analysts have also commented on FORM. StockNews.com raised shares of FormFactor from a hold rating to a buy rating in a research report on Thursday, April 11th. Needham & Company LLC reaffirmed a buy rating and issued a $46.00 price objective on shares of FormFactor in a research report on Thursday, February 8th. TD Cowen increased their price objective on shares of FormFactor from $33.00 to $37.00 and gave the company a market perform rating in a research report on Thursday, February 8th. Finally, TheStreet raised shares of FormFactor from a c rating to a b- rating in a research report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, FormFactor currently has a consensus rating of Hold and a consensus target price of $42.56.

FormFactor Stock Performance

Shares of FormFactor stock opened at $42.09 on Tuesday. The company has a market capitalization of $3.26 billion, a PE ratio of 39.71 and a beta of 1.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.38. The company has a 50-day simple moving average of $43.61 and a two-hundred day simple moving average of $39.77. FormFactor has a one year low of $24.88 and a one year high of $47.94.

FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $168.16 million during the quarter, compared to the consensus estimate of $165.49 million. FormFactor had a net margin of 12.42% and a return on equity of 2.43%. Research analysts expect that FormFactor will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Shai Shahar sold 10,000 shares of the stock in a transaction that occurred on 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 owns 67,141 shares in the company, valued at approximately $2,827,978.92. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $45.94, for a total transaction of $183,760.00. Following the sale, the chief executive officer now owns 495,781 shares of the company’s stock, valued at approximately $22,776,179.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.12, for a total transaction of $421,200.00. Following the sale, the chief financial officer now directly owns 67,141 shares in the company, valued at approximately $2,827,978.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,000 shares of company stock worth $1,223,580. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On FormFactor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of FormFactor during the 1st quarter worth approximately $28,000. Belpointe Asset Management LLC grew its stake in shares of FormFactor by 170.1% during the 1st quarter. Belpointe Asset Management LLC now owns 1,086 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 684 shares during the period. GAMMA Investing LLC acquired a new stake in shares of FormFactor during the 4th quarter worth approximately $55,000. Quadrant Capital Group LLC grew its stake in shares of FormFactor by 19.5% during the 4th 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 period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of FormFactor during the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

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.