FormFactor (NASDAQ:FORM) Given New $125.00 Price Target at B. Riley Financial

FormFactor (NASDAQ:FORM) had its target price dropped by research analysts at B. Riley Financial from $150.00 to $125.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. B. Riley Financial‘s target price indicates a potential upside of 46.11% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Freedom Capital upgraded FormFactor from a “hold” rating to a “strong-buy” rating in a report on Monday, November 2nd. Stifel Nicolaus set a $115.00 target price on FormFactor in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft assumed coverage on FormFactor in a report on Wednesday, September 30th. They set a “buy” rating and a $200.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of FormFactor in a research report on Tuesday, September 22nd. Finally, TD Cowen lifted their price target on FormFactor from $100.00 to $110.00 and gave the stock a “hold” rating in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $136.09.

FormFactor Price Performance

FORM stock opened at $85.55 on Monday. The firm has a market cap of $6.71 billion, a P/E ratio of 39.11 and a beta of 1.27. The firm’s fifty day moving average is $113.72 and its 200 day moving average is $113.65. FormFactor has a 52 week low of $47.33 and a 52 week high of $160.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.02 and a current ratio of 3.68.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.18. FormFactor had a net margin of 17.72% and a return on equity of 18.40%. The business had revenue of $280.55 million during the quarter, compared to analyst estimates of $270.52 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s revenue was up 38.4% on a year-over-year basis. Research analysts predict that FormFactor will post 2.96 earnings per share for the current year.

Insider Buying and Selling at FormFactor

In other FormFactor news, Director Kelley Steven-Waiss sold 2,100 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $96.10, for a total transaction of $201,810.00. Following the completion of the sale, the director owned 24,426 shares of the company’s stock, valued at $2,347,338.60. This represents a 7.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mike Slessor sold 11,098 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $125.20, for a total transaction of $1,389,469.60. Following the completion of the sale, the chief executive officer directly owned 455,596 shares in the company, valued at approximately $57,040,619.20. This trade represents a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 46,710 shares of company stock valued at $5,520,564 in the last three months. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of FormFactor

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of FormFactor in the second quarter worth about $1,676,772,000. Andar Capital Management HK Ltd bought a new position in FormFactor during the 2nd quarter valued at approximately $27,000,000. Bank of America Corp DE bought a new position in FormFactor during the 2nd quarter valued at approximately $285,257,000. Primecap Management Co. CA bought a new position in FormFactor during the 2nd quarter valued at approximately $270,300,000. Finally, Bank of New York Mellon Corp bought a new position in FormFactor during the 2nd quarter valued at approximately $103,844,000. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Company Profile

FormFactor, Inc designs and manufactures testing and measurement products used in the development and production of semiconductor devices. Its offerings include probe cards, which connect test equipment to semiconductor wafers, as well as probe stations and related systems for electrical and thermal characterization.

The company’s products support testing at multiple stages of semiconductor development and manufacturing, including work on advanced integrated circuits and other complex devices.