FormFactor (NASDAQ:FORM) Coverage Initiated by Analysts at Jefferies Financial Group

Equities researchers at Jefferies Financial Group started coverage on shares of FormFactor (NASDAQ:FORM) in a report issued on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $102.00 price target on the semiconductor company’s stock. Jefferies Financial Group‘s price target suggests a potential upside of 19.12% from the stock’s previous close.

FORM has been the subject of a number of other reports. Freedom Capital upgraded shares of FormFactor from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Zacks Research downgraded shares of FormFactor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Evercore set a $150.00 target price on shares of FormFactor in a research note on Thursday, July 30th. B. Riley Financial dropped their target price on shares of FormFactor from $150.00 to $125.00 and set a “buy” rating for the company in a report on Monday. Finally, Wall Street Zen upgraded FormFactor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.25.

FormFactor Stock Up 0.5%

FormFactor stock opened at $85.63 on Wednesday. The stock has a fifty day moving average of $113.09 and a 200 day moving average of $113.69. The stock has a market cap of $6.71 billion, a PE ratio of 39.10 and a beta of 1.27. FormFactor has a one year low of $47.33 and a one year high of $160.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.02 and a current ratio of 3.68.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. The firm had revenue of $280.55 million during the quarter, compared to the consensus estimate of $270.52 million. FormFactor had a net margin of 17.72% and a return on equity of 18.40%. The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. As a group, sell-side analysts predict that FormFactor will post 2.96 EPS for the current year.

Insider Transactions at FormFactor

In other news, Director Kelley Steven-Waiss sold 2,100 shares of FormFactor stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $96.10, for a total value of $201,810.00. Following the sale, the director directly owned 24,426 shares of the company’s stock, valued at approximately $2,347,338.60. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 17,510 shares of FormFactor stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $104.73, for a total value of $1,833,822.30. Following the completion of the sale, the chief executive officer directly owned 466,694 shares in the company, valued at approximately $48,876,862.62. The trade was a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 46,710 shares of company stock valued at $5,520,564. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. USS Investment Management Ltd boosted its holdings in FormFactor by 42.9% during the 3rd quarter. USS Investment Management Ltd now owns 5,000 shares of the semiconductor company’s stock valued at $747,000 after acquiring an additional 1,500 shares during the period. Private Advisor Group LLC purchased a new stake in FormFactor in the third quarter worth $300,000. Voya Investment Management LLC increased its stake in FormFactor by 968.6% in the third quarter. Voya Investment Management LLC now owns 268,796 shares of the semiconductor company’s stock worth $40,134,000 after purchasing an additional 243,642 shares during the period. Bogart Wealth LLC purchased a new stake in FormFactor in the third quarter worth $38,000. Finally, Public Sector Pension Investment Board lifted its position in shares of FormFactor by 18.6% during the third quarter. Public Sector Pension Investment Board now owns 317,678 shares of the semiconductor company’s stock worth $47,433,000 after purchasing an additional 49,810 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

About FormFactor

FormFactor, Inc. designs and manufactures testing and measurement products used in the development and production of semiconductor devices. Its offerings include probe cards, which connect test equipment to semiconductor wafers, as well as probe stations and related systems for electrical and thermal characterization. The company’s products support testing at multiple stages of semiconductor development and manufacturing, including work on advanced integrated circuits and other complex devices. FormFactor serves customers around the world, including semiconductor manufacturers and research organizations.