Brokerages Set FormFactor, Inc. (NASDAQ:FORM) Price Target at $56.00

Shares of FormFactor, Inc. (NASDAQ:FORM) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $56.00.

A number of equities research analysts have recently commented on the stock. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $51.00 in a report on Monday, January 6th. TD Cowen reduced their target price on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Finally, Needham & Company LLC cut shares of FormFactor from a “buy” rating to a “hold” rating in a report on Monday, January 13th.

FormFactor Stock Down 2.8 %

Shares of NASDAQ:FORM opened at $41.67 on Thursday. The business’s 50 day moving average is $43.04 and its 200 day moving average is $45.45. The stock has a market cap of $3.23 billion, a P/E ratio of 23.95 and a beta of 1.08. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. FormFactor has a 52-week low of $37.25 and a 52-week high of $63.63.

Insiders Place Their Bets

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total transaction of $177,760.00. Following the completion of the sale, the chief executive officer now directly owns 522,531 shares of the company’s stock, valued at approximately $23,221,277.64. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its position in shares of FormFactor by 876.0% in the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock worth $14,876,000 after buying an additional 290,254 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in FormFactor in the 2nd quarter valued at about $15,893,000. TimesSquare Capital Management LLC lifted its position in FormFactor by 29.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 586,700 shares of the semiconductor company’s stock valued at $26,988,000 after purchasing an additional 134,170 shares during the last quarter. Barclays PLC lifted its position in FormFactor by 351.9% in the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after purchasing an additional 113,296 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its position in FormFactor by 59.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 302,363 shares of the semiconductor company’s stock valued at $12,729,000 after purchasing an additional 112,537 shares during the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

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.