FormFactor (FORM) Upgraded to Hold by Zacks Investment Research

FormFactor (NASDAQ:FORM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “FormFactor's fourth quarter earnings are driven by solid probe card demand in both Foundry and Logic market. The company has been dealing with the secular decline in the PC market by increasing focus on the Mobile SoC and Mobile DRAM probe card segments where growth prospects remain very bright. Notably, the company has outperformed the industry it belongs to on a year to date basis. Also, the company is exposed to the adverse effects of extreme pricing pressure in the semiconductor industry. The nature of the business necessitates long lead times and customer concentration, which remains a concern.”

Several other research analysts have also issued reports on the stock. ValuEngine upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Sidoti lowered their price target on shares of FormFactor from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, January 3rd. BidaskClub lowered shares of FormFactor from a “buy” rating to a “hold” rating in a report on Saturday, December 8th. Finally, Craig Hallum lowered shares of FormFactor from a “buy” rating to a “hold” rating and lifted their price objective for the company from $16.00 to $17.00 in a research note on Thursday, February 7th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.08.

FormFactor stock traded up $0.09 during mid-day trading on Wednesday, hitting $15.72. 9,531 shares of the stock were exchanged, compared to its average volume of 424,972. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.54 and a current ratio of 3.30. FormFactor has a 12 month low of $11.10 and a 12 month high of $16.83. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.37 and a beta of 1.66.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, February 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. FormFactor had a net margin of 19.64% and a return on equity of 11.59%. The firm had revenue of $140.90 million during the quarter, compared to analyst estimates of $135.93 million. During the same quarter last year, the business earned $0.24 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts predict that FormFactor will post 0.93 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in shares of FormFactor by 8.7% in the 3rd quarter. Vanguard Group Inc now owns 7,472,866 shares of the semiconductor company’s stock valued at $102,751,000 after acquiring an additional 600,660 shares in the last quarter. California Public Employees Retirement System grew its position in FormFactor by 21.7% in the 2nd quarter. California Public Employees Retirement System now owns 56,325 shares of the semiconductor company’s stock valued at $749,000 after purchasing an additional 10,025 shares during the period. Peregrine Capital Management LLC grew its position in FormFactor by 6.7% in the 4th quarter. Peregrine Capital Management LLC now owns 1,761,303 shares of the semiconductor company’s stock valued at $24,817,000 after purchasing an additional 110,082 shares during the period. Bank of Montreal Can grew its position in FormFactor by 24.1% in the 3rd quarter. Bank of Montreal Can now owns 99,007 shares of the semiconductor company’s stock valued at $1,362,000 after purchasing an additional 19,236 shares during the period. Finally, Panagora Asset Management Inc. grew its position in FormFactor by 6.6% in the 3rd quarter. Panagora Asset Management Inc. now owns 391,747 shares of the semiconductor company’s stock valued at $5,386,000 after purchasing an additional 24,122 shares during the period. Institutional investors own 96.22% of the company’s stock.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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