FormFactor (NASDAQ:FORM) Given New $52.00 Price Target at Needham & Company LLC

FormFactor (NASDAQ:FORM - Get Free Report) had its price target reduced by investment analysts at Needham & Company LLC from $60.00 to $52.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's target price indicates a potential upside of 36.91% from the company's current price.

Other equities research analysts also recently issued reports about the stock. DA Davidson boosted their price target on shares of FormFactor from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. TD Cowen reduced 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. StockNews.com downgraded shares of FormFactor from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus boosted their price target on shares of FormFactor from $50.00 to $55.00 and gave the company a "hold" rating in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, FormFactor currently has a consensus rating of "Hold" and a consensus price target of $55.38.

FormFactor Price Performance

Shares of NASDAQ:FORM traded down $5.83 during midday trading on Thursday, hitting $37.98. The company's stock had a trading volume of 2,219,603 shares, compared to its average volume of 575,700. The business's 50 day simple moving average is $45.32 and its 200 day simple moving average is $50.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 4.46. The company has a market cap of $2.93 billion, a P/E ratio of 30.42 and a beta of 1.11. FormFactor has a 12-month low of $32.16 and a 12-month high of $63.63.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.05. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. The company had revenue of $197.47 million for the quarter, compared to the consensus estimate of $195.01 million. On average, analysts forecast that FormFactor will post 0.74 EPS for the current year.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the business's stock in a transaction that occurred on 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 owns 534,276 shares in the company, valued at approximately $24,742,321.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mike Slessor sold 4,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total value of $185,240.00. Following the completion of the sale, the chief executive officer now owns 534,276 shares in the company, valued at $24,742,321.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jorge Titinger sold 6,770 shares of the company's stock in a transaction on 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 owns 12,970 shares of the company's stock, valued at approximately $543,961.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,770 shares of company stock worth $650,294. 0.96% of the stock is currently owned by insiders.

Institutional Trading of FormFactor

Institutional investors and hedge funds have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in FormFactor during the 2nd quarter worth $38,000. Redwood Wealth Management Group LLC acquired a new position in shares of FormFactor during the 2nd quarter worth $43,000. LRI Investments LLC acquired a new position in shares of FormFactor during the 1st quarter worth $70,000. Covestor Ltd grew its stake in shares of FormFactor by 3,951.3% during the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 1,541 shares during the period. Finally, CWM LLC grew its stake in shares of FormFactor by 25.5% during the 2nd quarter. CWM LLC now owns 1,823 shares of the semiconductor company's stock worth $110,000 after purchasing an additional 370 shares during the period. Hedge funds and other institutional investors 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.