TD Cowen Issues Pessimistic Forecast for FormFactor (NASDAQ:FORM) Stock Price

FormFactor (NASDAQ:FORM) had its price objective cut by TD Cowen from $60.00 to $44.00 in a research report report published on Thursday morning, Marketbeat reports. They currently have a hold rating on the semiconductor company’s stock.

A number of other equities research analysts also recently commented on the stock. DA Davidson raised their price objective on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their target price on FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of FormFactor in a research note on Thursday, August 1st. Finally, StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.38.

FormFactor Price Performance

Shares of NASDAQ FORM opened at $38.75 on Thursday. The stock has a fifty day moving average price of $44.84 and a 200 day moving average price of $50.50. FormFactor has a 1-year low of $32.16 and a 1-year high of $63.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.64. The company has a market cap of $3.00 billion, a PE ratio of 22.27 and a beta of 1.12.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $197.47 million during the quarter, compared to the consensus estimate of $195.01 million. FormFactor had a net margin of 18.29% and a return on equity of 5.38%. Sell-side analysts forecast that FormFactor will post 0.73 EPS for the current year.

Insider Buying and Selling

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 534,276 shares of the company’s stock, valued at approximately $24,742,321.56. This represents 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 the SEC website. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total transaction of $185,240.00. Following the completion of the transaction, the chief executive officer now owns 534,276 shares in the company, valued at approximately $24,742,321.56. The trade was 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. Also, 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 sale, the director now owns 12,970 shares in the company, valued at $543,961.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,770 shares of company stock valued at $650,294. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On FormFactor

Several hedge funds have recently bought and sold shares of FORM. Bessemer Group Inc. lifted its position 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 valued at $11,976,000 after acquiring an additional 17,079 shares in the last quarter. UniSuper Management Pty Ltd acquired a new position in FormFactor in the 1st quarter valued at about $664,000. Russell Investments Group Ltd. lifted its holdings in FormFactor by 16.2% in the 1st quarter. Russell Investments Group Ltd. now owns 113,083 shares of the semiconductor company’s stock valued at $5,160,000 after purchasing an additional 15,756 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of FormFactor during the 1st quarter worth about $1,030,000. Finally, Sei Investments Co. grew its holdings in shares of FormFactor by 5.4% during the first quarter. Sei Investments Co. now owns 1,493,665 shares of the semiconductor company’s stock worth $68,156,000 after buying an additional 76,032 shares in the last quarter. Hedge funds and other 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.