Needham & Company LLC Reaffirms “Buy” Rating for FormFactor, Inc. (FORM)

Needham & Company LLC reissued their buy rating on shares of FormFactor, Inc. (NASDAQ:FORM) in a research note released on Friday morning. They currently have a $18.00 price objective on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on FORM. B. Riley reaffirmed a buy rating and set a $20.00 price objective on shares of FormFactor in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of FormFactor from a hold rating to a strong-buy rating and set a $16.00 price objective on the stock in a research note on Wednesday, August 9th. BidaskClub raised shares of FormFactor from a sell rating to a hold rating in a research note on Thursday, July 13th. Finally, DA Davidson reaffirmed a buy rating and set a $20.00 price objective on shares of FormFactor in a research note on Thursday, August 31st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $17.43.

FormFactor (NASDAQ FORM) opened at 18.00 on Friday. FormFactor has a one year low of $8.60 and a one year high of $18.10. The stock’s market cap is $1.31 billion. The firm’s 50-day moving average is $16.80 and its 200 day moving average is $14.29.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. The business had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $134.53 million. FormFactor had a negative net margin of 1.32% and a positive return on equity of 15.62%. The business’s revenue was up 73.3% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS. On average, analysts anticipate that FormFactor will post $1.22 EPS for the current fiscal year.

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In related news, CFO Michael M. Ludwig sold 10,000 shares of FormFactor stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $14.07, for a total value of $140,700.00. Following the sale, the chief financial officer now owns 267,977 shares of the company’s stock, valued at approximately $3,770,436.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael W. Zellner sold 3,725 shares of FormFactor stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.26, for a total transaction of $56,843.50. Following the completion of the sale, the director now directly owns 63,000 shares in the company, valued at approximately $961,380. The disclosure for this sale can be found here. Insiders sold a total of 43,725 shares of company stock worth $623,844 in the last three months. 2.30% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC acquired a new stake in FormFactor in the 2nd quarter valued at $140,000. Great West Life Assurance Co. Can lifted its holdings in FormFactor by 214.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 12,462 shares of the semiconductor company’s stock valued at $154,000 after purchasing an additional 8,505 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in FormFactor in the 1st quarter valued at $160,000. Quantbot Technologies LP lifted its holdings in FormFactor by 3,136.6% in the 2nd quarter. Quantbot Technologies LP now owns 14,662 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 14,209 shares in the last quarter. Finally, Bourgeon Capital Management LLC lifted its holdings in FormFactor by 50.0% in the 2nd quarter. Bourgeon Capital Management LLC now owns 15,000 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 5,000 shares in the last quarter. 86.17% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Company Profile

FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.

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