FormFactor (NASDAQ:FORM) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of FormFactor (NASDAQ:FORM) from a buy rating to a hold rating in a report issued on Friday.

Several other brokerages have also weighed in on FORM. TheStreet raised FormFactor from a c rating to a b- rating in a report on Thursday, February 8th. Needham & Company LLC reaffirmed a buy rating and issued a $46.00 price target on shares of FormFactor in a report on Thursday, February 8th. Evercore ISI initiated coverage on FormFactor in a report on Tuesday. They issued an in-line rating and a $50.00 price target for the company. Finally, TD Cowen raised their price target on FormFactor from $33.00 to $37.00 and gave the stock a market perform rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, FormFactor presently has an average rating of Hold and an average price target of $42.56.

FormFactor Stock Performance

Shares of FORM opened at $40.76 on Friday. The company has a current ratio of 4.38, a quick ratio of 3.52 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 38.45 and a beta of 1.18. The stock has a 50 day moving average of $43.57 and a 200 day moving average of $39.82. FormFactor has a 12 month low of $24.88 and a 12 month high of $47.94.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. The business had revenue of $168.16 million during the quarter, compared to analyst estimates of $165.49 million. As a group, sell-side analysts forecast that FormFactor will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $43.38, for a total value of $173,520.00. Following the sale, the chief executive officer now owns 499,781 shares in the company, valued at $21,680,499.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $43.38, for a total transaction of $173,520.00. Following the sale, the chief executive officer now owns 499,781 shares in the company, valued at $21,680,499.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $44.51, for a total value of $445,100.00. Following the sale, the chief financial officer now owns 27,591 shares in the company, valued at approximately $1,228,075.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,000 shares of company stock worth $1,223,580. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Large investors have recently added to or reduced their stakes in the company. Tudor Investment Corp Et Al raised its position in FormFactor by 368.7% during the third quarter. Tudor Investment Corp Et Al now owns 83,760 shares of the semiconductor company’s stock valued at $2,927,000 after purchasing an additional 65,889 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in shares of FormFactor by 240.4% in the third quarter. Dark Forest Capital Management LP now owns 23,649 shares of the semiconductor company’s stock worth $826,000 after buying an additional 16,702 shares during the period. Vanguard Group Inc. increased its holdings in shares of FormFactor by 2.4% in the third quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock worth $341,007,000 after buying an additional 224,599 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of FormFactor by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 815,716 shares of the semiconductor company’s stock worth $28,501,000 after buying an additional 45,248 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of FormFactor in the third quarter worth about $301,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.