FormFactor, Inc. (NASDAQ:FORM) Receives Average Recommendation of “Hold” from Brokerages

Shares of FormFactor, Inc. (NASDAQ:FORM) have received an average rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $42.56.

FORM has been the topic of a number of research reports. Evercore ISI assumed coverage on shares of FormFactor in a report on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 price target on the stock. TheStreet upgraded FormFactor from a “c” rating to a “b-” rating in a report on Thursday, February 8th. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Needham & Company LLC reissued a “buy” rating and set a $46.00 price objective on shares of FormFactor in a research note on Thursday, February 8th. Finally, TD Cowen upped their price target on shares of FormFactor from $33.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th.

Insider Buying and Selling

In related news, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the transaction, the chief financial officer now directly owns 67,141 shares in the company, valued at $2,827,978.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $43.38, for a total transaction of $173,520.00. Following the transaction, the chief executive officer now owns 499,781 shares of the company’s stock, valued at approximately $21,680,499.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 67,141 shares in the company, valued at $2,827,978.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,000 shares of company stock worth $1,223,580. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Several institutional investors have recently added to or reduced their stakes in FORM. Wellington Management Group LLP boosted its holdings in FormFactor by 81.1% in the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock valued at $80,387,000 after purchasing an additional 862,885 shares in the last quarter. Norges Bank purchased a new position in FormFactor in the 4th quarter valued at about $21,454,000. TimesSquare Capital Management LLC acquired a new stake in FormFactor during the fourth quarter worth approximately $15,484,000. Sora Investors LLC acquired a new stake in shares of FormFactor during the third quarter worth $7,862,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of FormFactor by 124.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 405,695 shares of the semiconductor company’s stock valued at $14,175,000 after acquiring an additional 224,799 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

FormFactor Stock Up 2.0 %

Shares of FORM opened at $44.75 on Tuesday. The firm’s 50-day simple moving average is $43.62 and its 200 day simple moving average is $40.15. The firm has a market cap of $3.46 billion, a P/E ratio of 42.22 and a beta of 1.18. FormFactor has a 52 week low of $24.88 and a 52 week high of $47.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.38.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. The company had revenue of $168.16 million for the quarter, compared to analyst estimates of $165.49 million. On average, analysts forecast that FormFactor will post 0.63 earnings per share for the current year.

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.