TD Cowen Has Lowered Expectations for FormFactor (NASDAQ:FORM) Stock Price

FormFactor (NASDAQ:FORM) had its price target reduced by investment analysts at TD Cowen from $60.00 to $44.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price objective would indicate a potential upside of 13.55% from the company’s current price.

A number of other research firms have also recently commented on FORM. DA Davidson raised their price target on shares of FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of FormFactor in a research note on Thursday, August 1st. Stifel Nicolaus upped their target price on FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Tuesday, July 16th. Finally, StockNews.com downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.38.

FormFactor Price Performance

Shares of FORM opened at $38.75 on Thursday. The business has a 50-day moving average of $44.84 and a 200-day moving average of $50.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 22.27 and a beta of 1.11. FormFactor has a 1 year low of $32.16 and a 1 year high of $63.63.

FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. FormFactor had a net margin of 18.29% and a return on equity of 5.42%. The business had revenue of $197.47 million during the quarter, compared to the consensus estimate of $195.01 million. As a group, equities research analysts anticipate that FormFactor will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total transaction of $283,933.80. Following the sale, the director now directly owns 12,970 shares in the company, valued at $543,961.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $45.28, for a total value of $181,120.00. Following the completion of the transaction, the chief executive officer now directly owns 530,276 shares of the company’s stock, valued at approximately $24,010,897.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the sale, the director now directly owns 12,970 shares in the company, valued at $543,961.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,770 shares of company stock valued at $650,294. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in shares of FormFactor during the 2nd quarter worth $38,000. Redwood Wealth Management Group LLC purchased a new position in shares of FormFactor during the 2nd quarter valued at about $43,000. LRI Investments LLC bought a new stake in shares of FormFactor in the 1st quarter worth approximately $70,000. Covestor Ltd boosted its position in FormFactor by 3,951.3% during the first quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 1,541 shares during the period. Finally, CWM LLC grew its stake in shares of FormFactor by 25.5% during the second quarter. CWM LLC now owns 1,823 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 370 shares during the last quarter. 98.76% of the stock is currently 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.