Stifel Nicolaus Issues Pessimistic Forecast for FormFactor (NASDAQ:FORM) Stock Price

FormFactor (NASDAQ:FORM) had its target price cut by stock analysts at Stifel Nicolaus from $48.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 17.19% from the company’s previous close.

A number of other brokerages have also recently issued reports on FORM. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $51.00 in a report on Monday, January 6th. Evercore ISI cut their price target on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a report on Thursday. TD Cowen lowered their price objective on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a research note on Thursday. Finally, B. Riley downgraded shares of FormFactor from a “buy” rating to a “neutral” rating and reduced their price target for the company from $64.00 to $34.00 in a report on Thursday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, FormFactor has an average rating of “Hold” and an average target price of $48.50.

FormFactor Price Performance

Shares of NASDAQ FORM opened at $35.84 on Thursday. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 20.60 and a beta of 1.07. FormFactor has a twelve month low of $32.71 and a twelve month high of $63.63. The business has a 50 day simple moving average of $42.89 and a 200-day simple moving average of $44.14.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a net margin of 18.29% and a return on equity of 5.38%. As a group, equities research analysts expect that FormFactor will post 0.75 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 that occurred on Monday, December 2nd. The shares were sold at an average price of $40.59, for a total transaction of $162,360.00. Following the transaction, the chief executive officer now owns 526,531 shares in the company, valued at $21,371,893.29. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 12,000 shares of company stock valued at $496,040. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Channing Capital Management LLC lifted its holdings in shares of FormFactor by 10.3% in the fourth quarter. Channing Capital Management LLC now owns 1,527,851 shares of the semiconductor company’s stock valued at $67,225,000 after buying an additional 142,776 shares during the period. Moran Wealth Management LLC raised its position in FormFactor by 13.7% in the fourth quarter. Moran Wealth Management LLC now owns 11,317 shares of the semiconductor company’s stock worth $498,000 after acquiring an additional 1,362 shares in the last quarter. Amundi raised its position in FormFactor by 186.7% in the fourth quarter. Amundi now owns 39,058 shares of the semiconductor company’s stock worth $1,723,000 after acquiring an additional 25,434 shares in the last quarter. Inceptionr LLC lifted its holdings in FormFactor by 118.9% in the 4th quarter. Inceptionr LLC now owns 11,468 shares of the semiconductor company’s stock valued at $505,000 after acquiring an additional 6,229 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of FormFactor during the 4th quarter valued at about $14,222,000. 98.76% of the stock is owned by institutional investors.

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.