Citigroup Increases FormFactor (NASDAQ:FORM) Price Target to $46.00

FormFactor (NASDAQ:FORM) had its price target hoisted by Citigroup from $37.00 to $46.00 in a research report report published on Thursday morning, Benzinga reports. Citigroup currently has a neutral rating on the semiconductor company’s stock.

A number of other research firms also recently weighed in on FORM. Stifel Nicolaus lifted their price objective on FormFactor from $36.00 to $42.00 and gave the company a hold rating in a report on Tuesday, April 30th. Evercore ISI assumed coverage on shares of FormFactor in a research note on Tuesday, April 16th. They issued an in-line rating and a $50.00 target price for the company. B. Riley lifted their target price on shares of FormFactor from $52.00 to $54.00 and gave the company a buy rating in a research note on Thursday. StockNews.com cut shares of FormFactor from a buy rating to a hold rating in a research note on Friday, April 19th. Finally, TheStreet upgraded shares of FormFactor from a c rating to a b- rating in a research report on Thursday, February 8th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $47.30.

FormFactor Stock Performance

Shares of NASDAQ:FORM traded up $2.25 during midday trading on Thursday, hitting $54.00. The company’s stock had a trading volume of 1,045,249 shares, compared to its average volume of 505,847. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 40.91 and a beta of 1.15. The stock’s 50 day simple moving average is $44.33 and its 200 day simple moving average is $40.63. FormFactor has a fifty-two week low of $24.88 and a fifty-two week high of $54.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.51.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $168.16 million for the quarter, compared to the consensus estimate of $165.49 million. FormFactor had a return on equity of 2.29% and a net margin of 15.48%. As a group, research analysts anticipate that FormFactor will post 0.68 earnings per share for the current year.

Insider Activity at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $43.38, for a total value of $173,520.00. Following the completion of the transaction, the chief executive officer now directly owns 499,781 shares of the company’s stock, valued at $21,680,499.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $44.51, for a total value of $445,100.00. Following the sale, the chief financial officer now directly owns 27,591 shares of the company’s stock, valued at approximately $1,228,075.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $43.38, for a total value of $173,520.00. Following the transaction, the chief executive officer now owns 499,781 shares of the company’s stock, valued at approximately $21,680,499.78. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock worth $1,398,580 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several hedge funds have recently made changes to their positions in the business. Riverview Trust Co acquired a new position in FormFactor during the first quarter worth $28,000. GAMMA Investing LLC bought a new stake in shares of FormFactor in the 4th quarter valued at about $55,000. Quadrant Capital Group LLC boosted its stake in shares of FormFactor by 19.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 260 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of FormFactor during the 3rd quarter worth approximately $70,000. Finally, Mackenzie Financial Corp bought a new stake in FormFactor in the 4th quarter valued at $202,000. 98.76% of the stock is owned by institutional investors.

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.