FormFactor (NASDAQ:FORM) Shares Down 6.7% After Analyst Downgrade

FormFactor, Inc. (NASDAQ:FORM)’s stock price traded down 6.7% during mid-day trading on Friday after Stifel Nicolaus lowered their price target on the stock from $48.00 to $42.00. Stifel Nicolaus currently has a hold rating on the stock. FormFactor traded as low as $36.00 and last traded at $35.76. 394,081 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 922,777 shares. The stock had previously closed at $38.33.

Several other research analysts also recently weighed in on the company. TD Cowen reduced their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Evercore ISI reduced their target price on FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a research note on Thursday. B. Riley downgraded FormFactor from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $34.00 in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research note on Thursday. Finally, 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, FormFactor currently has an average rating of “Hold” and a consensus target price of $48.50.

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total value of $155,920.00. Following the sale, the chief executive officer now directly owns 518,531 shares in the company, valued at $20,212,338.38. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 12,000 shares of company stock worth $496,040. 0.96% of the stock is currently owned by insiders.

Institutional Trading of FormFactor

Institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in shares of FormFactor by 99.4% in the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 309 shares in the last quarter. Quarry LP raised its holdings in FormFactor by 131.7% during the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 523 shares during the last quarter. Manchester Capital Management LLC raised its holdings in FormFactor by 63.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 440 shares during the last quarter. IFP Advisors Inc raised its holdings in FormFactor by 4,732.4% during the fourth quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,609 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in FormFactor by 146.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,986 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 1,181 shares during the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Stock Performance

The firm has a fifty day moving average of $42.89 and a 200-day moving average of $44.14. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 20.60 and a beta of 1.07. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a return on equity of 5.38% and a net margin of 18.29%. As a group, sell-side analysts anticipate that FormFactor, Inc. will post 0.75 EPS 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.