FormFactor, Inc. (FORM) PT Raised to $22.00

FormFactor, Inc. (NASDAQ:FORM) had its price objective boosted by B. Riley from $20.00 to $22.00 in a report published on Wednesday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other analysts have also issued reports about the stock. Needham & Company LLC reissued a buy rating and set a $18.00 price target on shares of FormFactor in a research report on Friday, October 27th. DA Davidson reissued a buy rating and set a $20.00 price target on shares of FormFactor in a research report on Thursday, August 31st. Zacks Investment Research lowered shares of FormFactor from a buy rating to a hold rating in a research report on Tuesday, July 4th. Finally, BidaskClub raised shares of FormFactor from a sell rating to a hold rating in a research report on Thursday, July 13th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $18.06.

FormFactor (NASDAQ:FORM) traded up $0.70 during mid-day trading on Wednesday, hitting $17.90. 2,389,121 shares of the company’s stock traded hands, compared to its average volume of 733,079. The stock has a market capitalization of $1,298.56, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.05 and a beta of 1.53. FormFactor has a 1-year low of $8.85 and a 1-year high of $18.65. The company has a current ratio of 2.87, a quick ratio of 2.25 and a debt-to-equity ratio of 0.24.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The business had revenue of $143.74 million during the quarter, compared to analyst estimates of $140.83 million. FormFactor had a net margin of 3.68% and a return on equity of 17.18%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. sell-side analysts expect that FormFactor will post 1.04 EPS for the current year.

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In related news, CFO Michael M. Ludwig sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 267,977 shares of the company’s stock, valued at approximately $3,770,436.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Ludwig sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $14.21, for a total transaction of $426,300.00. Following the completion of the transaction, the chief financial officer now directly owns 262,847 shares of the company’s stock, valued at $3,735,055.87. The disclosure for this sale can be found here. Insiders sold a total of 43,725 shares of company stock valued at $623,844 over the last ninety days. 2.30% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in FormFactor by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 17,068 shares of the semiconductor company’s stock worth $215,000 after buying an additional 469 shares during the period. Virtu KCG Holdings LLC increased its holdings in FormFactor by 5.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 17,472 shares of the semiconductor company’s stock worth $217,000 after buying an additional 972 shares during the period. KCG Holdings Inc. increased its holdings in FormFactor by 14.7% in the 1st quarter. KCG Holdings Inc. now owns 16,500 shares of the semiconductor company’s stock worth $196,000 after buying an additional 2,120 shares during the period. Voya Investment Management LLC increased its holdings in FormFactor by 7.1% in the 2nd quarter. Voya Investment Management LLC now owns 34,013 shares of the semiconductor company’s stock worth $422,000 after buying an additional 2,252 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in FormFactor by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,360 shares of the semiconductor company’s stock worth $699,000 after buying an additional 2,731 shares during the period. Institutional investors own 86.17% of the company’s stock.

About FormFactor

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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