FormFactor (NASDAQ:FORM) Price Target Cut to $31.00 by Analysts at Stifel Nicolaus

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

FormFactor (NASDAQ:FORM - Get Free Report) had its target price lowered by analysts at Stifel Nicolaus from $34.00 to $31.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the semiconductor company's stock. Stifel Nicolaus' price target would suggest a potential upside of 3.33% from the company's previous close.

FORM has been the topic of several other research reports. Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a research report on Thursday, May 1st. Evercore ISI reduced their price objective on shares of FormFactor from $43.00 to $33.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. B. Riley lifted their price objective on shares of FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, DA Davidson reduced their price objective on shares of FormFactor from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $41.14.

FormFactor Stock Down 12.8%

NASDAQ:FORM traded down $4.42 on Thursday, reaching $30.00. 1,860,793 shares of the stock traded hands, compared to its average volume of 804,377. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 43.63 and a beta of 1.15. The company has a current ratio of 4.45, a quick ratio of 3.56 and a debt-to-equity ratio of 0.01. FormFactor has a 12 month low of $22.58 and a 12 month high of $55.20. The company's fifty day simple moving average is $33.91 and its 200 day simple moving average is $33.22.

FormFactor (NASDAQ:FORM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). The firm had revenue of $195.80 million for the quarter, compared to the consensus estimate of $190.17 million. FormFactor had a net margin of 7.08% and a return on equity of 6.47%. The firm's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. Equities analysts predict that FormFactor will post 0.9 EPS for the current fiscal year.

Insider Activity at FormFactor

In other news, Director Dennis Thomas St sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $31.24, for a total transaction of $93,720.00. Following the sale, the director owned 40,957 shares of the company's stock, valued at $1,279,496.68. This trade represents a 6.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On FormFactor

A number of institutional investors have recently added to or reduced their stakes in FORM. Westfield Capital Management Co. LP purchased a new position in FormFactor in the 1st quarter valued at $25,838,000. Massachusetts Financial Services Co. MA grew its position in shares of FormFactor by 82.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,963,727 shares of the semiconductor company's stock worth $55,554,000 after buying an additional 885,617 shares in the last quarter. Reinhart Partners LLC. boosted its holdings in FormFactor by 64.8% in the second quarter. Reinhart Partners LLC. now owns 1,904,698 shares of the semiconductor company's stock valued at $65,541,000 after purchasing an additional 749,088 shares in the last quarter. Earnest Partners LLC boosted its holdings in FormFactor by 10.9% in the fourth quarter. Earnest Partners LLC now owns 6,037,082 shares of the semiconductor company's stock valued at $265,632,000 after purchasing an additional 594,426 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in FormFactor by 29.9% in the fourth quarter. Bank of America Corp DE now owns 2,542,296 shares of the semiconductor company's stock valued at $111,861,000 after buying an additional 585,117 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.