FormFactor (NASDAQ:FORM) Price Target Cut to $44.00 by Analysts at TD Cowen

FormFactor (NASDAQ:FORM) had its target price decreased by equities research analysts at TD Cowen from $60.00 to $44.00 in a research note issued to investors on Thursday, Briefing.com reports. The firm currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price target suggests a potential upside of 0.43% from the stock’s current price.

FORM has been the subject of a number of other reports. Stifel Nicolaus increased their price target on FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, July 16th. StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. DA Davidson raised their target price on FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of FormFactor in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.63.

FormFactor Trading Down 3.0 %

NASDAQ FORM opened at $43.81 on Thursday. The firm has a market capitalization of $3.38 billion, a P/E ratio of 33.19 and a beta of 1.11. The business has a fifty day simple moving average of $45.32 and a 200 day simple moving average of $50.63. FormFactor has a 12 month low of $32.16 and a 12 month high of $63.63. The company has a current ratio of 4.46, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $197.47 million during the quarter, compared to analyst estimates of $195.01 million. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. On average, analysts predict that FormFactor will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total transaction of $181,120.00. Following the sale, the chief executive officer now owns 530,276 shares in the company, valued at $24,010,897.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Jorge Titinger sold 6,770 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total value of $283,933.80. Following the transaction, the director now owns 12,970 shares of the company’s stock, valued at approximately $543,961.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total transaction of $181,120.00. Following the completion of the transaction, the chief executive officer now directly owns 530,276 shares in the company, valued at approximately $24,010,897.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,770 shares of company stock worth $650,294 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in shares of FormFactor by 7.0% in the first quarter. Bessemer Group Inc. now owns 262,463 shares of the semiconductor company’s stock worth $11,976,000 after purchasing an additional 17,079 shares during the period. UniSuper Management Pty Ltd bought a new position in FormFactor in the first quarter valued at $664,000. Russell Investments Group Ltd. increased its stake in FormFactor by 16.2% in the first quarter. Russell Investments Group Ltd. now owns 113,083 shares of the semiconductor company’s stock valued at $5,160,000 after acquiring an additional 15,756 shares during the last quarter. GSA Capital Partners LLP bought a new position in FormFactor in the first quarter valued at $1,030,000. Finally, Sei Investments Co. increased its stake in FormFactor by 5.4% in the first quarter. Sei Investments Co. now owns 1,493,665 shares of the semiconductor company’s stock valued at $68,156,000 after acquiring an additional 76,032 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

FormFactor Company Profile

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.