FormFactor (NASDAQ:FORM) Downgraded by Needham & Company LLC to Hold

Needham & Company LLC downgraded shares of FormFactor (NASDAQ:FORM) from a buy rating to a hold rating in a research report released on Monday, Marketbeat reports.

Other research analysts have also issued research reports about the company. TD Cowen cut their price objective on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.00.

FormFactor Stock Down 3.1 %

Shares of NASDAQ FORM opened at $42.84 on Monday. FormFactor has a 12 month low of $37.25 and a 12 month high of $63.63. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 24.62 and a beta of 1.08. The business has a 50-day moving average of $42.62 and a 200-day moving average of $46.51.

Insider Activity

In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 owns 522,531 shares of the company’s stock, valued at approximately $23,221,277.64. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

A number of institutional investors have recently made changes to their positions in the stock. Reinhart Partners LLC. boosted its stake in shares of FormFactor by 4.4% during the fourth quarter. Reinhart Partners LLC. now owns 443,414 shares of the semiconductor company’s stock valued at $19,510,000 after purchasing an additional 18,561 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of FormFactor by 14.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company’s stock valued at $362,000 after acquiring an additional 972 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of FormFactor by 5.1% during the third quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company’s stock valued at $18,940,000 after acquiring an additional 18,810 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of FormFactor by 7.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 47,821 shares of the semiconductor company’s stock valued at $2,200,000 after acquiring an additional 3,426 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of FormFactor by 3.7% during the third quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock valued at $95,105,000 after acquiring an additional 73,982 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.