FormFactor (NASDAQ:FORM) Given New $125.00 Price Target at B. Riley Financial

Key Points

• B. Riley lowered its price target on FormFactor from $150 to $125 but maintained a Buy rating; the new target implies 46.11% upside from the prior close.
• Analyst sentiment is moderately positive overall: MarketBeat reports an average target of $136.09, with one Strong Buy, seven Buy, and four Hold ratings.
• FormFactor beat quarterly estimates, reporting EPS of $1.04 versus $0.86 expected and revenue of $280.55 million versus $270.52 million; revenue rose 38.4% year over year.

FormFactor (NASDAQ:FORM - Get Free Report) had its price objective reduced by equities research analysts at B. Riley Financial from $150.00 to $125.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. B. Riley Financial's target price would suggest a potential upside of 46.11% from the stock's previous close.

A number of other analysts have also recently commented on FORM. Evercore set a $150.00 price target on shares of FormFactor in a research note on Thursday, July 30th. TD Cowen lifted their price objective on shares of FormFactor from $100.00 to $110.00 and gave the company a "hold" rating in a research note on Thursday, October 29th. Freedom Capital upgraded shares of FormFactor from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 2nd. Zacks Research cut shares of FormFactor from a "strong-buy" rating to a "hold" rating in a report on Monday, October 19th. Finally, Wall Street Zen upgraded FormFactor from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, FormFactor currently has an average rating of "Moderate Buy" and an average target price of $136.09.

FormFactor Trading Up 5.5%

Shares of FORM opened at $85.55 on Monday. FormFactor has a fifty-two week low of $47.33 and a fifty-two week high of $160.27. The business has a 50-day moving average of $113.72 and a 200 day moving average of $113.65. The firm has a market cap of $6.71 billion, a P/E ratio of 39.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.02 and a current ratio of 3.68.

FormFactor (NASDAQ:FORM - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. The business had revenue of $280.55 million for the quarter, compared to the consensus estimate of $270.52 million. FormFactor had a net margin of 17.72% and a return on equity of 18.40%. The company's revenue was up 38.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, research analysts forecast that FormFactor will post 2.96 EPS for the current year.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 17,510 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $104.73, for a total value of $1,833,822.30. Following the sale, the chief executive officer directly owned 466,694 shares of the company's stock, valued at approximately $48,876,862.62. This represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kelley Steven-Waiss sold 2,100 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $96.10, for a total transaction of $201,810.00. Following the completion of the transaction, the director owned 24,426 shares of the company's stock, valued at $2,347,338.60. This trade represents a 7.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,710 shares of company stock valued at $5,520,564 in the last ninety days. Insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mawer Investment Management Ltd. boosted its holdings in shares of FormFactor by 14.3% in the 3rd quarter. Mawer Investment Management Ltd. now owns 231,825 shares of the semiconductor company's stock worth $34,614,000 after purchasing an additional 29,001 shares in the last quarter. Aberdeen Group plc purchased a new position in shares of FormFactor during the 3rd quarter valued at about $4,390,000. Russell Investments Group Ltd. raised its holdings in shares of FormFactor by 55.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 252,967 shares of the semiconductor company's stock valued at $37,770,000 after buying an additional 90,503 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of FormFactor by 38.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 21,951 shares of the semiconductor company's stock valued at $3,278,000 after buying an additional 6,061 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in FormFactor by 14.0% in the 3rd quarter. Ritholtz Wealth Management now owns 1,701 shares of the semiconductor company's stock worth $254,000 after buying an additional 209 shares during the last quarter. 98.76% of the stock is owned by institutional investors.

FormFactor Company Profile

FormFactor, Inc designs and manufactures testing and measurement products used in the development and production of semiconductor devices. Its offerings include probe cards, which connect test equipment to semiconductor wafers, as well as probe stations and related systems for electrical and thermal characterization.

The company's products support testing at multiple stages of semiconductor development and manufacturing, including work on advanced integrated circuits and other complex devices.

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