FormFactor (NASDAQ:FORM) Price Target Lowered to $43.00 at Evercore ISI

FormFactor (NASDAQ:FORM) had its price target trimmed by Evercore ISI from $50.00 to $43.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an in-line rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on FORM. TD Cowen dropped their target price on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $51.00 in a research note on Monday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of FormFactor in a research report on Thursday. Finally, B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $34.00 in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.50.

FormFactor Price Performance

Shares of NASDAQ:FORM opened at $38.33 on Thursday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 22.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94. The business’s 50 day simple moving average is $42.98 and its 200-day simple moving average is $44.30. FormFactor has a 12 month low of $32.71 and a 12 month high of $63.63.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a return on equity of 5.38% and a net margin of 18.29%. As a group, equities analysts forecast that FormFactor will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total transaction of $177,760.00. Following the transaction, the chief executive officer now directly owns 522,531 shares in the company, valued at $23,221,277.64. This represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 12,000 shares of company stock valued at $496,040. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of FormFactor by 1.4% during the 3rd quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock valued at $134,019,000 after buying an additional 39,784 shares during the period. Geode Capital Management LLC grew its position in FormFactor by 3.7% during the third quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock valued at $95,105,000 after acquiring an additional 73,982 shares during the period. Massachusetts Financial Services Co. MA increased its stake in FormFactor by 8.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company’s stock worth $48,928,000 after acquiring an additional 79,191 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of FormFactor by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 920,441 shares of the semiconductor company’s stock worth $40,499,000 after purchasing an additional 34,338 shares during the period. Finally, Needham Investment Management LLC lifted its stake in shares of FormFactor by 8.6% in the 3rd quarter. Needham Investment Management LLC now owns 620,000 shares of the semiconductor company’s stock valued at $28,520,000 after purchasing an additional 49,000 shares in the last quarter. Institutional investors and hedge funds 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.