Published On: Sun, Sep 11th, 2016

FormFactor Inc. (FORM) Upgraded at Stifel Nicolaus

FormFactor Inc. (NASDAQ:FORM) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $13.00 price objective on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 33.88% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on FORM. B. Riley reiterated a “buy” rating and issued a $10.00 target price on shares of FormFactor in a research note on Monday, April 4th. Zacks Investment Research cut FormFactor from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 28th. Finally, Needham & Company LLC raised their target price on FormFactor from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, June 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. FormFactor currently has an average rating of “Buy” and an average price target of $11.80.
FormFactor (NASDAQ:FORM) traded down 6.54% during midday trading on Tuesday, hitting $9.71. 674,079 shares of the company traded hands. The stock has a market cap of $685.19 million, a P/E ratio of 28.81 and a beta of 1.14. FormFactor has a 12-month low of $6.15 and a 12-month high of $11.19. The stock has a 50 day moving average of $10.27 and a 200 day moving average of $8.43.

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FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. FormFactor had a return on equity of 0.11% and a net margin of 7.27%. The firm had revenue of $83.10 million for the quarter, compared to analysts’ expectations of $78.23 million. During the same period last year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 55.0% on a year-over-year basis. Equities research analysts predict that FormFactor will post $0.47 EPS for the current fiscal year.
In other news, Director Richard Delateur sold 10,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $10.74, for a total transaction of $107,400.00. Following the transaction, the director now directly owns 22,000 shares of the company’s stock, valued at $236,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Thomas St sold 23,120 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $10.51, for a total value of $242,991.20. Following the transaction, the director now directly owns 164,933 shares in the company, valued at $1,733,445.83. The disclosure for this sale can be found here. Insiders own 2.84% of the company’s stock.
Several hedge funds and institutional investors have modified their holdings of the stock. Monarch Partners Asset Management LLC raised its position in shares of FormFactor by 23.1% in the second quarter. Monarch Partners Asset Management LLC now owns 31,140 shares of the company’s stock worth $280,000 after buying an additional 5,840 shares during the period. Strs Ohio purchased a new position in FormFactor during the second quarter worth about $175,000. Bank of Montreal Can purchased a new position in FormFactor during the second quarter worth about $183,000. James Investment Research Inc. raised its position in FormFactor by 1.6% in the second quarter. James Investment Research Inc. now owns 119,496 shares of the company’s stock worth $1,074,000 after buying an additional 1,890 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in FormFactor during the first quarter worth about $106,000. 90.67% of the stock is currently owned by institutional investors.
FormFactor Company Profile
FormFactor, Inc designs, develops, manufactures, sells and supports semiconductor probe card products. The Company is a supplier of probe cards to the manufacturers of dynamic random-access memory (DRAM), flash memory devices, microprocessor, chipset and other system on chip (SoC) devices. Semiconductor manufacturers use its probe cards to perform wafer test, which is the testing of the semiconductor die, or chips.

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