FormFactor (NASDAQ:FORM) Trading Down 4%

FormFactor, Inc. (NASDAQ:FORM) was down 4% during trading on Monday . The company traded as low as $57.97 and last traded at $58.11. Approximately 46,537 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 519,362 shares. The stock had previously closed at $60.53.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FORM. Evercore ISI began coverage on FormFactor in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 target price on the stock. Citigroup lifted their target price on FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. TD Cowen lifted their target price on FormFactor from $37.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, B. Riley lifted their target price on FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $49.30.

FormFactor Stock Performance

The company has a market capitalization of $4.70 billion, a P/E ratio of 46.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.51 and a quick ratio of 3.67. The company has a fifty day moving average price of $55.38 and a two-hundred day moving average price of $46.80.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The company had revenue of $168.73 million during the quarter, compared to analyst estimates of $165.45 million. FormFactor had a return on equity of 2.29% and a net margin of 15.48%. Equities analysts forecast that FormFactor, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sheri Rhodes sold 13,319 shares of FormFactor stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $56.02, for a total value of $746,130.38. Following the transaction, the director now directly owns 7,634 shares of the company’s stock, valued at $427,656.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $59.00, for a total value of $236,000.00. Following the transaction, the chief executive officer now directly owns 487,581 shares of the company’s stock, valued at $28,767,279. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sheri Rhodes sold 13,319 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total value of $746,130.38. Following the completion of the transaction, the director now directly owns 7,634 shares in the company, valued at $427,656.68. The disclosure for this sale can be found here. Insiders have sold a total of 37,536 shares of company stock valued at $2,075,394 over the last ninety days. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On FormFactor

Institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new position in FormFactor in the fourth quarter valued at approximately $644,000. Tudor Investment Corp Et Al raised its position in shares of FormFactor by 368.7% during the third quarter. Tudor Investment Corp Et Al now owns 83,760 shares of the semiconductor company’s stock worth $2,927,000 after purchasing an additional 65,889 shares during the period. Lisanti Capital Growth LLC raised its position in shares of FormFactor by 124.3% during the fourth quarter. Lisanti Capital Growth LLC now owns 166,730 shares of the semiconductor company’s stock worth $6,954,000 after purchasing an additional 92,405 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in shares of FormFactor by 74.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 42,840 shares of the semiconductor company’s stock worth $1,787,000 after purchasing an additional 18,293 shares during the period. Finally, TimesSquare Capital Management LLC acquired a new position in shares of FormFactor during the fourth quarter worth approximately $15,484,000. 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.