FormFactor (NASDAQ:FORM) Rating Increased to Hold at BidaskClub

FormFactor (NASDAQ:FORM) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday, October 19th.

A number of other brokerages have also issued reports on FORM. TheStreet raised FormFactor from a “c+” rating to a “b” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised FormFactor from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine lowered FormFactor from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Finally, B. Riley cut their target price on FormFactor from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, July 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.38.

Shares of FormFactor stock traded down $0.40 on Friday, hitting $14.56. 589,174 shares of the company were exchanged, compared to its average volume of 639,469. FormFactor has a 1-year low of $11.10 and a 1-year high of $17.70. The stock has a market cap of $1.11 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.67 and a beta of 1.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.13 and a quick ratio of 2.35.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. FormFactor had a return on equity of 11.42% and a net margin of 4.71%. The firm had revenue of $135.00 million for the quarter, compared to analysts’ expectations of $133.13 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, research analysts expect that FormFactor will post 0.75 EPS for the current fiscal year.

In related news, Director Michael W. Zellner sold 11,000 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $13.49, for a total value of $148,390.00. Following the transaction, the director now owns 41,875 shares of the company’s stock, valued at $564,893.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Delateur sold 6,000 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $14.07, for a total value of $84,420.00. Following the completion of the transaction, the director now directly owns 13,000 shares in the company, valued at approximately $182,910. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FORM. BlackRock Inc. boosted its stake in FormFactor by 99.1% in the first quarter. BlackRock Inc. now owns 9,322,911 shares of the semiconductor company’s stock valued at $127,258,000 after acquiring an additional 4,640,895 shares in the last quarter. Earnest Partners LLC acquired a new stake in shares of FormFactor during the second quarter worth about $38,557,000. Principal Financial Group Inc. boosted its stake in shares of FormFactor by 1,172.4% during the first quarter. Principal Financial Group Inc. now owns 600,047 shares of the semiconductor company’s stock worth $8,191,000 after buying an additional 552,888 shares during the period. Wells Fargo & Company MN boosted its stake in shares of FormFactor by 78.4% during the third quarter. Wells Fargo & Company MN now owns 867,309 shares of the semiconductor company’s stock worth $11,925,000 after buying an additional 381,208 shares during the period. Finally, United Services Automobile Association boosted its stake in shares of FormFactor by 2,683.8% during the second quarter. United Services Automobile Association now owns 378,122 shares of the semiconductor company’s stock worth $5,029,000 after buying an additional 364,539 shares during the period. Institutional investors own 93.37% of the company’s stock.

FormFactor Company Profile

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test 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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