FormFactor (NASDAQ:FORM) Shares Gap Down on Analyst Downgrade

FormFactor, Inc. (NASDAQ:FORM) gapped down prior to trading on Thursday after Needham & Company LLC lowered their price target on the stock from $60.00 to $52.00. The stock had previously closed at $43.81, but opened at $40.15. Needham & Company LLC currently has a buy rating on the stock. FormFactor shares last traded at $40.15, with a volume of 285,292 shares.

A number of other analysts have also weighed in on FORM. TD Cowen lowered their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday. Stifel Nicolaus upped their price target on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Tuesday, July 16th. DA Davidson lifted their price objective on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.38.

Insider Buying and Selling at FormFactor

In other news, Director Jorge Titinger sold 6,770 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total transaction of $283,933.80. Following the transaction, the director now directly owns 12,970 shares of the company’s stock, valued at approximately $543,961.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $45.28, for a total value of $181,120.00. Following the completion of the transaction, the chief executive officer now owns 530,276 shares of the company’s stock, valued at approximately $24,010,897.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the sale, the director now directly owns 12,970 shares in the company, valued at $543,961.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,770 shares of company stock worth $650,294 over the last three months. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FORM. Vanguard Group Inc. raised its stake in shares of FormFactor by 1.6% in the first quarter. Vanguard Group Inc. now owns 9,622,484 shares of the semiconductor company’s stock worth $439,074,000 after purchasing an additional 154,361 shares during the last quarter. Earnest Partners LLC lifted its stake in FormFactor by 0.6% during the 1st quarter. Earnest Partners LLC now owns 6,091,217 shares of the semiconductor company’s stock valued at $277,942,000 after acquiring an additional 37,781 shares during the period. Hood River Capital Management LLC increased its stake in shares of FormFactor by 7.2% in the first quarter. Hood River Capital Management LLC now owns 2,079,052 shares of the semiconductor company’s stock worth $94,867,000 after acquiring an additional 140,223 shares during the period. Sei Investments Co. increased its stake in shares of FormFactor by 5.4% in the first quarter. Sei Investments Co. now owns 1,493,665 shares of the semiconductor company’s stock worth $68,156,000 after acquiring an additional 76,032 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of FormFactor by 91.5% during the second quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock worth $77,636,000 after purchasing an additional 612,838 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

FormFactor Stock Down 13.3 %

The company has a quick ratio of 3.64, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 28.77 and a beta of 1.11. The business’s 50-day moving average is $45.32 and its 200-day moving average is $50.63.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $197.47 million for the quarter, compared to the consensus estimate of $195.01 million. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. As a group, equities analysts predict that FormFactor, Inc. will post 0.74 earnings per share for the current year.

FormFactor Company Profile

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.