FormFactor, Inc. (NASDAQ:FORM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of FormFactor, Inc. (NASDAQ:FORM) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and four 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 $59.63.

FORM has been the subject of several recent research reports. DA Davidson raised their price target on FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Cowen boosted their target price on shares of FormFactor from $48.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of FormFactor in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, July 16th. Finally, StockNews.com downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $24,742,321.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total value of $283,933.80. Following the transaction, the director now owns 12,970 shares in the company, valued at $543,961.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated 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 $24,742,321.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,770 shares of company stock valued at $908,894. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several hedge funds and other institutional investors have recently modified their holdings of FORM. Wellington Management Group LLP raised its holdings in FormFactor by 81.1% in the fourth quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock valued at $80,387,000 after buying an additional 862,885 shares during the period. Bank of New York Mellon Corp increased its position in shares of FormFactor by 91.5% in the second quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock worth $77,636,000 after acquiring an additional 612,838 shares in the last quarter. Norges Bank acquired a new stake in shares of FormFactor in the fourth quarter worth $21,454,000. Driehaus Capital Management LLC purchased a new position in shares of FormFactor in the 2nd quarter valued at $15,893,000. Finally, Renaissance Technologies LLC purchased a new stake in FormFactor during the 2nd quarter worth $13,938,000. 98.76% of the stock is owned by institutional investors and hedge funds.

FormFactor Trading Up 6.5 %

NASDAQ:FORM opened at $46.90 on Friday. FormFactor has a 52-week low of $31.51 and a 52-week high of $63.63. The company has a quick ratio of 3.64, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $47.24 and a 200-day simple moving average of $50.48. The company has a market capitalization of $3.62 billion, a PE ratio of 35.53 and a beta of 1.11.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. The business had revenue of $197.47 million for the quarter, compared to analyst estimates of $195.01 million. On average, equities research analysts expect that FormFactor will post 0.74 earnings per share for the current fiscal year.

About FormFactor

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.