Formfactor (FORM) Receives a Buy from B.Riley FBR

By Jason Carr

In a report released today, Craig Ellis from B.Riley FBR assigned a Buy rating to Formfactor (FORMResearch Report), with a price target of $26.00. The company’s shares closed last Monday at $22.22, close to its 52-week high of $23.47.

According to TipRanks.com, Ellis is a 4-star analyst with an average return of 5.7% and a 56.6% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Skyworks Solutions, and Applied Materials.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Formfactor with a $23.04 average price target.

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Based on Formfactor’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $8.28 million. In comparison, last year the company had a net profit of $7.69 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FORM in relation to earlier this year.

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FormFactor, Inc. engages in the provision of test and measurement solutions. It operates through the following segments: Probe Cards and Systems. The Probe Cards segment consists of technologies and product architectures, including micro-electromechanical systems technologies.