FormFactor (NASDAQ:FORM) Reaches New 12-Month Low – Here’s What Happened

FormFactor, Inc. (NASDAQ:FORM) hit a new 52-week low on Thursday . The company traded as low as $29.76 and last traded at $30.10, with a volume of 96485 shares. The stock had previously closed at $30.49.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Evercore ISI reduced their target price on shares of FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Needham & Company LLC restated a “hold” rating on shares of FormFactor in a research report on Thursday, February 6th. B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and decreased their price target for the company from $64.00 to $34.00 in a report on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price objective on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, FormFactor presently has a consensus rating of “Hold” and an average target price of $48.50.

FormFactor Stock Down 3.6 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.83. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 32.18 and a beta of 1.07. The firm has a 50 day simple moving average of $35.45 and a two-hundred day simple moving average of $40.59.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. As a group, sell-side analysts expect that FormFactor, Inc. will post 0.9 EPS for the current year.

Insider Activity at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.98, for a total transaction of $155,920.00. Following the transaction, the chief executive officer now directly owns 518,531 shares in the company, valued at approximately $20,212,338.38. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

A number of hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of FormFactor by 11.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,720 shares of the semiconductor company’s stock valued at $340,000 after purchasing an additional 822 shares during the period. Public Employees Retirement System of Ohio bought a new position in FormFactor in the fourth quarter valued at approximately $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of FormFactor by 45.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,585 shares of the semiconductor company’s stock valued at $7,242,000 after buying an additional 51,487 shares during the period. Vident Advisory LLC increased its position in shares of FormFactor by 21.5% during the fourth quarter. Vident Advisory LLC now owns 6,140 shares of the semiconductor company’s stock worth $270,000 after acquiring an additional 1,088 shares in the last quarter. Finally, Soviero Asset Management LP acquired a new stake in shares of FormFactor during the fourth quarter worth $3,256,000. Institutional investors and hedge funds 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.