FormFactor (NASDAQ:FORM) Price Target Cut to $44.00 by Analysts at TD Cowen

FormFactor (NASDAQ:FORM) had its target price reduced by TD Cowen from $60.00 to $44.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. They currently have a hold rating on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on the stock. DA Davidson lifted their target price 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. Stifel Nicolaus boosted their price objective on FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of FormFactor in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.38.

FormFactor Price Performance

Shares of FORM opened at $38.40 on Thursday. The business has a 50-day moving average of $45.32 and a 200-day moving average of $50.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 21.83 and a beta of 1.11. FormFactor has a 1 year low of $32.16 and a 1 year high of $63.63.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm had revenue of $197.47 million during the quarter, compared to analyst estimates of $195.01 million. FormFactor had a net margin of 18.29% and a return on equity of 5.42%. As a group, equities research analysts anticipate that FormFactor will post 0.74 earnings per share for the current year.

Insider Activity

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total value of $185,240.00. Following the transaction, the chief executive officer now owns 534,276 shares of the company’s stock, valued at approximately $24,742,321.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total value of $283,933.80. Following the completion of the sale, the director now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total transaction of $185,240.00. Following the transaction, the chief executive officer now owns 534,276 shares in the company, valued at approximately $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 three months. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FormFactor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of FormFactor by 91.5% in the second quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock valued at $77,636,000 after acquiring an additional 612,838 shares in the last quarter. New York State Common Retirement Fund grew its stake in FormFactor by 876.0% in the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock valued at $14,876,000 after purchasing an additional 290,254 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of FormFactor during the 2nd quarter valued at $15,893,000. Renaissance Technologies LLC bought a new stake in shares of FormFactor during the 2nd quarter worth $13,938,000. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of FormFactor by 60.4% in the 1st quarter. TimesSquare Capital Management LLC now owns 595,300 shares of the semiconductor company’s stock worth $27,164,000 after buying an additional 224,075 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.