Needham & Company LLC Issues Pessimistic Forecast for FormFactor (NASDAQ:FORM) Stock Price

FormFactor (NASDAQ:FORM) had its price target trimmed by Needham & Company LLC from $60.00 to $52.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on the stock. DA Davidson upped their price target on shares of FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. TD Cowen dropped their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday. Stifel Nicolaus upped their price target on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, July 16th. Finally, StockNews.com downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, FormFactor presently has a consensus rating of “Hold” and a consensus price target of $55.38.

FormFactor Price Performance

Shares of NASDAQ:FORM opened at $38.75 on Thursday. The company’s fifty day moving average is $44.84 and its two-hundred day moving average is $50.50. The company has a quick ratio of 3.64, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. FormFactor has a 12-month low of $32.16 and a 12-month high of $63.63. The company has a market cap of $3.00 billion, a P/E ratio of 22.27 and a beta of 1.12.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. FormFactor had a net margin of 18.29% and a return on equity of 5.38%. The business had revenue of $197.47 million for the quarter, compared to the consensus estimate of $195.01 million. Equities analysts expect that FormFactor will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total transaction of $185,240.00. Following the completion of the sale, the chief executive officer now directly owns 534,276 shares in the company, valued at $24,742,321.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other FormFactor news, Director Jorge Titinger sold 6,770 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the completion of the sale, the director now directly owns 12,970 shares in the company, valued at $543,961.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total transaction of $185,240.00. Following the sale, the chief executive officer now owns 534,276 shares of the company’s stock, valued at $24,742,321.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,770 shares of company stock worth $650,294 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FORM. Allspring Global Investments Holdings LLC raised its position in shares of FormFactor by 5.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 338,999 shares of the semiconductor company’s stock valued at $15,469,000 after buying an additional 18,375 shares during the last quarter. BNP Paribas Financial Markets raised its position in FormFactor by 1.9% in the first quarter. BNP Paribas Financial Markets now owns 69,174 shares of the semiconductor company’s stock worth $3,156,000 after purchasing an additional 1,319 shares in the last quarter. Janney Montgomery Scott LLC raised its position in FormFactor by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 6,944 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 1,151 shares in the last quarter. GSA Capital Partners LLP acquired a new position in FormFactor in the first quarter worth about $1,030,000. Finally, Texas Permanent School Fund Corp raised its position in FormFactor by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 68,126 shares of the semiconductor company’s stock worth $3,109,000 after purchasing an additional 881 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

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.