Needham & Company LLC Lowers FormFactor (NASDAQ:FORM) Price Target to $52.00

FormFactor (NASDAQ:FORM) had its target price reduced by Needham & Company LLC from $60.00 to $52.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 18.69% from the company’s current price.

A number of other research analysts have also weighed in on the company. StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. TD Cowen lowered their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research report on Thursday. DA Davidson increased their price objective on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.38.

FormFactor Stock Down 3.0 %

FORM opened at $43.81 on Thursday. The company has a quick ratio of 3.64, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. FormFactor has a twelve month low of $32.16 and a twelve month high of $63.63. The company has a market cap of $3.38 billion, a PE ratio of 33.19 and a beta of 1.11. The company has a 50-day moving average price of $45.32 and a 200 day moving average price of $50.63.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $197.47 million for the quarter, compared to the consensus estimate of $195.01 million. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. Sell-side analysts expect that FormFactor will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total value of $185,240.00. Following the completion of the transaction, the chief executive officer now directly owns 534,276 shares in the company, valued at approximately $24,742,321.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 12,970 shares of the company’s stock, valued at approximately $543,961.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total transaction of $185,240.00. Following the transaction, the chief executive officer now directly owns 534,276 shares of the company’s stock, valued at $24,742,321.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,770 shares of company stock valued at $650,294. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its stake in shares of FormFactor by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 38,800 shares of the semiconductor company’s stock valued at $2,349,000 after purchasing an additional 200 shares during the period. Xponance Inc. grew its stake in shares of FormFactor by 5.1% in the second quarter. Xponance Inc. now owns 4,925 shares of the semiconductor company’s stock worth $298,000 after acquiring an additional 241 shares in the last quarter. Arizona State Retirement System increased its position in shares of FormFactor by 1.5% during the second quarter. Arizona State Retirement System now owns 21,724 shares of the semiconductor company’s stock worth $1,315,000 after acquiring an additional 331 shares during the period. CWM LLC raised its stake in shares of FormFactor by 25.5% in the second quarter. CWM LLC now owns 1,823 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 370 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in FormFactor by 21.8% in the second quarter. GAMMA Investing LLC now owns 2,266 shares of the semiconductor company’s stock valued at $137,000 after purchasing an additional 406 shares during the period. 98.76% of the stock is currently owned by institutional investors and hedge funds.

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.