FormFactor (NASDAQ:FORM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “FormFactor’s top-line growth is driven by its strength across foundry & logic and DRAM segments. The company has proved agile in dealing with the secular decline in the PC market by increasing focus on the Mobile SoC and Mobile DRAM probe card segments where growth prospects remain very bright. Notably, the company has outperformed the industry it belongs to over a year. However, nature of the business necessitates long lead times and customer concentration, which remains a concern. Further, the company is exposed to the adverse effects of extreme pricing pressure in the semiconductor industry.”
FORM has been the subject of a number of other research reports. BidaskClub downgraded FormFactor from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 27th. Needham & Company LLC upgraded FormFactor from a “buy” rating to a “strong-buy” rating and boosted their target price for the stock from $20.00 to $22.00 in a research report on Thursday, December 14th. B. Riley restated a “buy” rating and set a $20.00 target price (down previously from $22.00) on shares of FormFactor in a research report on Monday, January 29th. Citigroup dropped their target price on FormFactor from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Finally, TheStreet downgraded FormFactor from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. FormFactor has a consensus rating of “Buy” and a consensus target price of $18.00.
FormFactor stock traded down $0.28 on Monday, reaching $13.37. The company’s stock had a trading volume of 305,269 shares, compared to its average volume of 1,118,971. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.58 and a current ratio of 3.32. The firm has a market cap of $995.77, a P/E ratio of 13.32, a P/E/G ratio of 0.79 and a beta of 1.34. FormFactor has a twelve month low of $10.45 and a twelve month high of $18.65.
FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, February 7th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). The firm had revenue of $131.90 million for the quarter, compared to the consensus estimate of $129.98 million. FormFactor had a return on equity of 16.81% and a net margin of 7.46%. equities research analysts predict that FormFactor will post 1.08 earnings per share for the current year.
In other FormFactor news, CFO Michael M. Ludwig sold 45,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $13.05, for a total value of $587,250.00. Following the completion of the sale, the chief financial officer now directly owns 242,887 shares in the company, valued at $3,169,675.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dennis Thomas St sold 20,867 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $13.58, for a total value of $283,373.86. Following the completion of the sale, the director now owns 61,533 shares of the company’s stock, valued at $835,618.14. The disclosure for this sale can be found here. Insiders sold 98,431 shares of company stock valued at $1,286,460 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. American International Group Inc. boosted its position in shares of FormFactor by 8.1% during the third quarter. American International Group Inc. now owns 48,276 shares of the semiconductor company’s stock worth $813,000 after buying an additional 3,610 shares during the period. OxFORD Asset Management LLP boosted its position in shares of FormFactor by 31.1% during the third quarter. OxFORD Asset Management LLP now owns 17,268 shares of the semiconductor company’s stock worth $291,000 after buying an additional 4,100 shares during the period. Swiss National Bank boosted its position in shares of FormFactor by 4.7% during the fourth quarter. Swiss National Bank now owns 123,500 shares of the semiconductor company’s stock worth $1,933,000 after buying an additional 5,600 shares during the period. Cadence Capital Management LLC boosted its position in shares of FormFactor by 7.8% during the fourth quarter. Cadence Capital Management LLC now owns 85,248 shares of the semiconductor company’s stock worth $1,334,000 after buying an additional 6,149 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of FormFactor by 3.8% during the fourth quarter. Macquarie Group Ltd. now owns 190,393 shares of the semiconductor company’s stock worth $2,980,000 after buying an additional 6,919 shares during the period. 87.17% of the stock is owned by institutional investors.
FormFactor Company Profile
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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