FormFactor (NASDAQ:FORM) Stock Gets Price Target Trim from B. Riley Financial

FormFactor (NASDAQ:FORM) had its target price decreased by B. Riley Financial from $150.00 to $125.00 in a research note published on Monday morning,Benzinga reports. B. Riley Financial currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings upgraded shares of FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of FormFactor in a research note on Tuesday, September 22nd. Freedom Capital upgraded shares of FormFactor from a “hold” rating to a “strong-buy” rating in a report on Monday, November 2nd. Deutsche Bank assumed coverage on shares of FormFactor in a research report on Wednesday, September 30th. They set a “buy” rating and a $200.00 price target for the company. Finally, Wall Street Zen raised shares of FormFactor from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, FormFactor has an average rating of “Moderate Buy” and an average target price of $133.25.

FormFactor Trading Up 11.9%

NASDAQ FORM opened at $95.78 on Monday. FormFactor has a 1-year low of $47.33 and a 1-year high of $160.27. The company has a current ratio of 3.68, a quick ratio of 3.02 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $113.10 and a 200-day moving average of $113.80. The firm has a market cap of $7.49 billion, a PE ratio of 43.74 and a beta of 1.27.

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

Insider Activity at FormFactor

In other news, Director Kelley Steven-Waiss sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $96.10, for a total transaction of $201,810.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mike Slessor sold 11,098 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $125.20, for a total value of $1,389,469.60. Following the transaction, the chief executive officer directly owned 455,596 shares in the company, valued at $57,040,619.20. This trade represents a 2.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 46,710 shares of company stock valued at $5,520,564. Company insiders own 0.79% of the company’s stock.

Institutional Trading of FormFactor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORM. NorthCrest Asset Manangement LLC boosted its holdings in FormFactor by 0.5% in the third quarter. NorthCrest Asset Manangement LLC now owns 18,442 shares of the semiconductor company’s stock valued at $2,529,000 after acquiring an additional 89 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in FormFactor by 96.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 253 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 124 shares in the last quarter. Mirador Capital Partners LP raised its holdings in FormFactor by 0.8% in the 3rd quarter. Mirador Capital Partners LP now owns 18,089 shares of the semiconductor company’s stock worth $2,701,000 after purchasing an additional 145 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in shares of FormFactor in the 2nd quarter worth about $25,000. Finally, Brighton Jones LLC lifted its position in shares of FormFactor by 12.5% in the 3rd quarter. Brighton Jones LLC now owns 1,439 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 160 shares during the period. Hedge funds and other 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.