B. Riley Forecasts Strong Price Appreciation for FormFactor (NASDAQ:FORM) Stock

FormFactor (NASDAQ:FORM) had its price target hoisted by B. Riley from $26.00 to $32.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

FORM has been the subject of several other research reports. Evercore ISI reduced their target price on shares of FormFactor from $43.00 to $33.00 and set an “in-line” rating for the company in a research note on Thursday. Stifel Nicolaus reduced their price objective on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research report on Thursday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, FormFactor has an average rating of “Hold” and an average target price of $42.71.

FormFactor Price Performance

Shares of NASDAQ:FORM opened at $30.26 on Thursday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 34.00 and a beta of 1.14. The business has a 50 day moving average price of $29.16 and a 200 day moving average price of $37.21. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. FormFactor has a twelve month low of $22.58 and a twelve month high of $63.63.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $171.36 million for the quarter, compared to the consensus estimate of $170.03 million. FormFactor had a net margin of 9.12% and a return on equity of 5.93%. FormFactor’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. Research analysts predict that FormFactor will post 0.9 earnings per share for the current year.

Insider Activity at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $28.24, for a total transaction of $112,960.00. Following the completion of the transaction, the chief executive officer now directly owns 514,650 shares of the company’s stock, valued at approximately $14,533,716. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 12,000 shares of company stock valued at $395,760 in the last 90 days. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FormFactor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its stake in shares of FormFactor by 5.5% in the fourth quarter. D.A. Davidson & CO. now owns 5,510 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 288 shares during the last quarter. Aviva PLC increased its holdings in FormFactor by 2.3% during the 4th quarter. Aviva PLC now owns 14,750 shares of the semiconductor company’s stock valued at $649,000 after purchasing an additional 331 shares in the last quarter. CWM LLC raised its position in FormFactor by 19.9% in the 1st quarter. CWM LLC now owns 2,303 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 382 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in FormFactor by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 400 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of FormFactor by 63.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 440 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

FormFactor Company Profile

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.