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

FormFactor (NASDAQ:FORM) had its price objective decreased by investment analysts at Needham & Company LLC from $60.00 to $52.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price indicates a potential upside of 34.19% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. TD Cowen dropped 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 lifted their price target on FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, StockNews.com downgraded FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Five equities 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 a consensus target price of $55.38.

FormFactor Stock Performance

Shares of FormFactor stock opened at $38.75 on Thursday. The business has a 50-day simple moving average of $44.84 and a 200 day simple moving average of $50.50. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 22.27 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64. FormFactor has a one year low of $32.16 and a one year high of $63.63.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. FormFactor had a return on equity of 5.42% and a net margin of 18.29%. The firm had revenue of $197.47 million during the quarter, compared to the consensus estimate of $195.01 million. On average, research analysts anticipate that FormFactor will post 0.74 earnings per share for the current fiscal year.

Insider Activity at FormFactor

In other FormFactor news, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the completion of the transaction, the director now directly owns 12,970 shares of the company’s stock, valued at $543,961.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 530,276 shares in the company, valued at $24,010,897.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,770 shares of company stock valued at $650,294. 0.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FORM. Innealta Capital LLC purchased a new stake in FormFactor during the second quarter valued at about $38,000. Redwood Wealth Management Group LLC purchased a new position in FormFactor in the 2nd quarter valued at approximately $43,000. LRI Investments LLC bought a new stake in FormFactor during the 1st quarter valued at $70,000. Covestor Ltd raised its holdings in FormFactor by 3,951.3% during the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 1,541 shares during the period. Finally, CWM LLC lifted its position in shares of FormFactor by 25.5% during the second quarter. CWM LLC now owns 1,823 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 370 shares in the last quarter. 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.