Needham & Company LLC reissued their buy rating on shares of FormFactor, Inc. (NASDAQ:FORM) in a research report sent to investors on Friday. They currently have a $18.00 price target on the semiconductor company’s stock.
Several other brokerages have also issued reports on FORM. Zacks Investment Research upgraded FormFactor from a hold rating to a strong-buy rating and set a $16.00 target price for the company in a research report on Wednesday, August 9th. BidaskClub lowered FormFactor from a hold rating to a sell rating in a research report on Thursday, July 6th. B. Riley restated a buy rating and set a $20.00 target price on shares of FormFactor in a research report on Tuesday, August 8th. Finally, DA Davidson restated a buy rating and set a $20.00 target price on shares of FormFactor in a research report on Thursday, August 31st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $17.43.
FormFactor (FORM) traded up 0.86% during midday trading on Friday, hitting $17.65. The stock had a trading volume of 606,351 shares. FormFactor has a 1-year low of $8.55 and a 1-year high of $17.90. The stock’s 50-day moving average is $16.71 and its 200-day moving average is $14.19. The company’s market capitalization is $1.28 billion.
FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.12. FormFactor had a positive return on equity of 15.62% and a negative net margin of 1.32%. The business had revenue of $144.00 million during the quarter, compared to analyst estimates of $134.53 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was up 73.3% compared to the same quarter last year. Equities research analysts forecast that FormFactor will post $1.22 EPS for the current year.
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In other news, Director Michael W. Zellner sold 3,725 shares of FormFactor stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $15.26, for a total transaction of $56,843.50. Following the completion of the sale, the director now owns 63,000 shares of the company’s stock, valued at $961,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael M. Ludwig sold 10,000 shares of FormFactor stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $14.07, for a total transaction of $140,700.00. Following the sale, the chief financial officer now directly owns 267,977 shares of the company’s stock, valued at approximately $3,770,436.39. The disclosure for this sale can be found here. Insiders have sold 43,725 shares of company stock valued at $623,844 in the last ninety days. Insiders own 2.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in shares of FormFactor by 8,988.5% during the second quarter. BNP Paribas Arbitrage SA now owns 137,782 shares of the semiconductor company’s stock valued at $1,708,000 after acquiring an additional 136,266 shares in the last quarter. Alpha Windward LLC bought a new stake in shares of FormFactor during the second quarter valued at approximately $418,000. Schwab Charles Investment Management Inc. raised its stake in shares of FormFactor by 6.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 334,956 shares of the semiconductor company’s stock valued at $4,154,000 after acquiring an additional 20,777 shares in the last quarter. Comerica Bank bought a new stake in shares of FormFactor during the second quarter valued at approximately $1,010,000. Finally, Insight Capital Research & Management Inc. bought a new stake in shares of FormFactor during the second quarter valued at approximately $368,000. 86.24% of the stock is owned by hedge funds and other institutional investors.
FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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