FormFactor (NASDAQ:FORM) Raised to “Buy” at Needham & Company LLC

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Needham & Company LLC upgraded shares of FormFactor (NASDAQ:FORM) from a hold rating to a buy rating in a report issued on Monday, Benzinga reports. They currently have $35.00 price objective on the semiconductor company’s stock.

Other equities analysts also recently issued reports about the stock. B. Riley reaffirmed a buy rating and set a $45.00 price objective on shares of FormFactor in a research note on Friday, August 14th. Cowen upped their price objective on shares of FormFactor from $24.00 to $30.00 and gave the company a market perform rating in a research note on Thursday, July 2nd. Zacks Investment Research raised shares of FormFactor from a hold rating to a strong-buy rating and set a $35.00 price objective for the company in a research note on Tuesday, August 4th. Sidoti upped their price objective on shares of FormFactor from $28.00 to $32.00 and gave the company a buy rating in a research note on Thursday, June 4th. Finally, DA Davidson upgraded shares of FormFactor from a neutral rating to a buy rating and boosted their price target for the company from $25.00 to $30.00 in a research report on Monday, June 1st. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $32.50.

FormFactor stock opened at $28.03 on Monday. The company has a quick ratio of 2.98, a current ratio of 3.70 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.22 billion, a PE ratio of 34.60 and a beta of 1.38. The firm has a fifty day simple moving average of $30.21 and a two-hundred day simple moving average of $25.33. FormFactor has a twelve month low of $16.25 and a twelve month high of $33.07.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $157.82 million during the quarter, compared to the consensus estimate of $159.00 million. FormFactor had a net margin of 9.92% and a return on equity of 12.84%. As a group, equities analysts expect that FormFactor will post 1.11 earnings per share for the current fiscal year.

In other FormFactor news, Director Sheri Rhodes sold 2,010 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $31.90, for a total value of $64,119.00. Following the sale, the director now owns 2,009 shares in the company, valued at $64,087.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelley Steven-Waiss sold 4,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $26.55, for a total transaction of $106,200.00. Following the completion of the sale, the director now owns 17,900 shares in the company, valued at approximately $475,245. The disclosure for this sale can be found here. 1.22% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FORM. Thrivent Financial for Lutherans grew its holdings in shares of FormFactor by 5.3% during the first quarter. Thrivent Financial for Lutherans now owns 63,443 shares of the semiconductor company’s stock valued at $1,275,000 after buying an additional 3,167 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of FormFactor by 4.0% during the first quarter. Geode Capital Management LLC now owns 1,177,124 shares of the semiconductor company’s stock valued at $23,648,000 after buying an additional 45,500 shares during the last quarter. State Street Corp grew its holdings in shares of FormFactor by 2.4% during the first quarter. State Street Corp now owns 2,289,489 shares of the semiconductor company’s stock valued at $45,996,000 after buying an additional 52,815 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of FormFactor by 655.0% during the first quarter. Deutsche Bank AG now owns 396,076 shares of the semiconductor company’s stock valued at $7,957,000 after buying an additional 343,613 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of FormFactor during the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 92.25% of the company’s stock.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and Systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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