FormFactor (NASDAQ:FORM) Price Target Cut to $43.00 by Analysts at Evercore ISI

FormFactor (NASDAQ:FORM - Get Free Report) had its price target lowered by stock analysts at Evercore ISI from $50.00 to $43.00 in a research note issued on Thursday, Marketbeat reports. The brokerage currently has an "in-line" rating on the semiconductor company's stock. Evercore ISI's price objective would indicate a potential upside of 20.35% from the stock's current price.

A number of other analysts have also recently commented on FORM. Citigroup upgraded FormFactor from a "neutral" rating to a "buy" rating and upped their price target for the stock from $44.00 to $51.00 in a research report on Monday, January 6th. TD Cowen decreased their target price on shares of FormFactor from $60.00 to $44.00 and set a "hold" rating on the stock in a research note on Thursday, October 31st. B. Riley downgraded shares of FormFactor from a "buy" rating to a "neutral" rating and lowered their price target for the company from $64.00 to $34.00 in a report on Thursday. Finally, Needham & Company LLC reissued a "hold" rating on shares of FormFactor in a research note on Thursday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, FormFactor has a consensus rating of "Hold" and a consensus target price of $48.50.

FormFactor Stock Performance

Shares of NASDAQ:FORM traded down $0.11 during trading on Thursday, hitting $35.73. The company's stock had a trading volume of 596,996 shares, compared to its average volume of 943,688. The company has a 50-day moving average of $42.89 and a 200-day moving average of $43.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.94. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 40.15 and a beta of 1.07. FormFactor has a 12 month low of $32.71 and a 12 month high of $63.63.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a return on equity of 5.93% and a net margin of 9.12%. On average, sell-side analysts expect that FormFactor will post 1.23 earnings per share for the current year.

Insider Activity at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the completion of the transaction, the chief executive officer now owns 522,531 shares in the company, valued at $23,221,277.64. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 12,000 shares of company stock valued at $496,040. Corporate insiders own 0.96% of the company's stock.

Institutional Trading of FormFactor

Several hedge funds have recently modified their holdings of FORM. State Street Corp grew its position in FormFactor by 1.4% in the third quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company's stock worth $134,019,000 after acquiring an additional 39,784 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of FormFactor by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company's stock valued at $95,105,000 after purchasing an additional 73,982 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of FormFactor by 30.1% in the 4th quarter. Royce & Associates LP now owns 1,757,086 shares of the semiconductor company's stock worth $77,312,000 after purchasing an additional 406,768 shares during the period. Channing Capital Management LLC increased its position in shares of FormFactor by 10.3% during the 4th quarter. Channing Capital Management LLC now owns 1,527,851 shares of the semiconductor company's stock valued at $67,225,000 after purchasing an additional 142,776 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in FormFactor by 8.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company's stock valued at $48,928,000 after buying an additional 79,191 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.

About FormFactor

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.