FormFactor (NASDAQ:FORM) Shares Gap Down – Here’s Why

Shares of FormFactor, Inc. (NASDAQ:FORM) gapped down prior to trading on Monday . The stock had previously closed at $44.22, but opened at $42.00. FormFactor shares last traded at $42.74, with a volume of 96,712 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TD Cowen decreased their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC lowered shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Citigroup upgraded shares of FormFactor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $51.00 in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, FormFactor presently has a consensus rating of “Hold” and an average target price of $56.00.

FormFactor Price Performance

The company has a market cap of $3.34 billion, a price-to-earnings ratio of 24.79 and a beta of 1.08. 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 fifty day moving average price of $42.62 and a two-hundred day moving average price of $46.51.

Insider Activity

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $40.59, for a total transaction of $162,360.00. Following the completion of the transaction, the chief executive officer now owns 526,531 shares in the company, valued at $21,371,893.29. This trade represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On FormFactor

Several large investors have recently modified their holdings of FORM. New York State Common Retirement Fund lifted its position in shares of FormFactor by 876.0% during the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock worth $14,876,000 after buying an additional 290,254 shares during the period. Driehaus Capital Management LLC bought a new position in shares of FormFactor during the second quarter valued at $15,893,000. Renaissance Technologies LLC acquired a new stake in shares of FormFactor in the 2nd quarter valued at $13,938,000. TimesSquare Capital Management LLC grew its holdings in shares of FormFactor by 29.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 586,700 shares of the semiconductor company’s stock worth $26,988,000 after purchasing an additional 134,170 shares during the last quarter. Finally, Barclays PLC increased its position in shares of FormFactor by 351.9% during the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock worth $6,692,000 after purchasing an additional 113,296 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

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.