FormFactor (NASDAQ:FORM) Now Covered by Analysts at Evercore ISI

Evercore ISI started coverage on shares of FormFactor (NASDAQ:FORM) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set an “in-line” rating and a $50.00 price target on the semiconductor company’s stock. Evercore ISI’s price target indicates a potential upside of 14.63% from the stock’s current price.

Several other brokerages also recently issued reports on FORM. TD Cowen increased their price target on FormFactor from $33.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Needham & Company LLC restated a “buy” rating and issued a $46.00 target price on shares of FormFactor in a research note on Thursday, February 8th. StockNews.com raised FormFactor from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Finally, TheStreet raised shares of FormFactor from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.56.

FormFactor Price Performance

FORM traded down $0.47 during trading on Tuesday, hitting $43.62. The company’s stock had a trading volume of 13,499 shares, compared to its average volume of 451,124. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 41.59 and a beta of 1.18. FormFactor has a twelve month low of $24.88 and a twelve month high of $47.94. The business’s fifty day simple moving average is $43.33 and its 200 day simple moving average is $39.66. The company has a current ratio of 4.38, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01.

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

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $45.94, for a total value of $183,760.00. Following the completion of the transaction, the chief executive officer now directly owns 495,781 shares of the company’s stock, valued at approximately $22,776,179.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $44.51, for a total value of $445,100.00. Following the completion of the sale, the chief financial officer now directly owns 27,591 shares of the company’s stock, valued at approximately $1,228,075.41. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $45.94, for a total transaction of $183,760.00. Following the transaction, the chief executive officer now owns 495,781 shares in the company, valued at approximately $22,776,179.14. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock valued at $1,223,580 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORM. BlackRock Inc. increased its holdings in shares of FormFactor by 2.4% in the second quarter. BlackRock Inc. now owns 12,733,906 shares of the semiconductor company’s stock valued at $435,754,000 after buying an additional 303,681 shares in the last quarter. Vanguard Group Inc. raised its holdings in FormFactor by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock worth $341,007,000 after buying an additional 224,599 shares during the period. Earnest Partners LLC lifted its stake in FormFactor by 1.2% during the third quarter. Earnest Partners LLC now owns 6,450,654 shares of the semiconductor company’s stock valued at $225,386,000 after buying an additional 78,466 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of FormFactor by 24.2% in the second quarter. Alliancebernstein L.P. now owns 3,485,470 shares of the semiconductor company’s stock worth $119,273,000 after buying an additional 678,330 shares during the period. Finally, State Street Corp increased its position in shares of FormFactor by 0.4% in the first quarter. State Street Corp now owns 2,850,891 shares of the semiconductor company’s stock worth $90,801,000 after acquiring an additional 11,027 shares in the last quarter. 98.76% of the stock is owned by institutional investors.

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.