FormFactor (NASDAQ:FORM) Stock Price Down 6.7% Following Analyst Downgrade

FormFactor, Inc. (NASDAQ:FORM)’s share price dropped 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. Approximately 394,081 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 922,777 shares. The stock had previously closed at $38.33.

A number of other research firms also recently weighed in on FORM. Evercore ISI cut their price target on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a research note on Thursday. Citigroup upgraded shares of FormFactor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $51.00 in a report on Monday, January 6th. Needham & Company LLC restated a “hold” rating on shares of FormFactor in a research report on Thursday. TD Cowen reduced their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Finally, B. Riley lowered shares of FormFactor from a “buy” rating to a “neutral” rating and cut their price target for the company from $64.00 to $34.00 in a research note on Thursday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

Insider Buying and Selling at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company’s 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 owns 518,531 shares in the company, valued at $20,212,338.38. This represents 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 at this link. Insiders sold a total of 12,000 shares of company stock worth $496,040 over the last ninety days. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its holdings in shares of FormFactor by 99.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock worth $29,000 after buying an additional 309 shares during the period. Quarry LP boosted its holdings in shares of FormFactor by 131.7% during the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 523 shares during the period. Manchester Capital Management LLC grew its position in shares of FormFactor by 63.8% in the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 440 shares during the last quarter. IFP Advisors Inc increased its stake in shares of 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 period. Finally, Smartleaf Asset Management LLC lifted its holdings in FormFactor by 146.7% during the 4th 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. Institutional investors own 98.76% of the company’s stock.

FormFactor Price Performance

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 company has a 50 day moving average of $42.98 and a 200-day moving average of $44.30. The firm has a market capitalization of $2.76 billion, a P/E ratio of 20.50 and a beta of 1.07.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a net margin of 18.29% and a return on equity of 5.38%. On average, sell-side analysts predict 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.