FormFactor (NASDAQ:FORM) Price Target Raised to $48.00 at TD Cowen

FormFactor (NASDAQ:FORM) had its price target hoisted by research analysts at TD Cowen from $37.00 to $48.00 in a report released on Thursday, Marketbeat reports. The firm presently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price target would indicate a potential downside of 11.11% from the company’s previous close.

FORM has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price target on shares of FormFactor in a report on Thursday, February 8th. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Stifel Nicolaus raised their price objective on shares of FormFactor from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday. Evercore ISI started coverage on shares of FormFactor in a report on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 target price on the stock. Finally, TheStreet upgraded shares of FormFactor from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.30.

FormFactor Price Performance

NASDAQ FORM traded up $2.25 during mid-day trading on Thursday, hitting $54.00. The stock had a trading volume of 1,045,249 shares, compared to its average volume of 505,847. The firm’s 50 day moving average is $44.33 and its 200 day moving average is $40.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.51 and a quick ratio of 3.52. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 40.91 and a beta of 1.15. FormFactor has a twelve month low of $24.88 and a twelve month high of $54.27.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $168.16 million during the quarter, compared to analysts’ expectations of $165.49 million. FormFactor had a net margin of 15.48% and a return on equity of 2.29%. Equities research analysts forecast that FormFactor will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at FormFactor

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction dated 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 owns 67,141 shares in the company, valued at approximately $2,827,978.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 67,141 shares in the company, valued at approximately $2,827,978.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Friday, March 1st. The stock was sold at an average price of $43.38, for a total transaction of $173,520.00. Following the sale, the chief executive officer now directly owns 499,781 shares of the company’s stock, valued at $21,680,499.78. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock valued at $1,398,580 in the last 90 days. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FORM. SG Americas Securities LLC purchased a new position in FormFactor in the third quarter valued at approximately $427,000. Reinhart Partners LLC. boosted its holdings in shares of FormFactor by 2.5% in the 3rd quarter. Reinhart Partners LLC. now owns 834,698 shares of the semiconductor company’s stock valued at $29,164,000 after buying an additional 20,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of FormFactor by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,098 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 1,989 shares during the last quarter. Emerald Advisers LLC raised its stake in FormFactor by 58.3% during the 3rd quarter. Emerald Advisers LLC now owns 481,911 shares of the semiconductor company’s stock worth $16,838,000 after acquiring an additional 177,448 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in FormFactor by 98.2% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 395,440 shares of the semiconductor company’s stock valued at $13,817,000 after acquiring an additional 195,898 shares during the last quarter. Hedge funds and other institutional investors 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.