FormFactor (NASDAQ:FORM) Downgraded to “Hold” Rating by Needham & Company LLC

Needham & Company LLC lowered shares of FormFactor (NASDAQ:FORM) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat Ratings reports.

A number of other research analysts also recently issued reports on FORM. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $51.00 in a report on Monday, January 6th. TD Cowen lowered their target price on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.00.

FormFactor Price Performance

Shares of NASDAQ FORM opened at $43.19 on Monday. The firm has a market cap of $3.35 billion, a P/E ratio of 24.82 and a beta of 1.08. FormFactor has a twelve month low of $37.25 and a twelve month high of $63.63. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $42.70 and a 200 day moving average of $46.38.

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $40.59, for a total transaction of $162,360.00. Following the transaction, the chief executive officer now directly owns 526,531 shares in the company, valued at approximately $21,371,893.29. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its stake 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 valued at $29,000 after acquiring an additional 309 shares during the period. Quarry LP raised its position in shares of FormFactor by 131.7% during the 3rd quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 523 shares during the period. Redwood Wealth Management Group LLC purchased a new position in shares of FormFactor during the 2nd quarter valued at $43,000. CWM LLC lifted its stake in shares of FormFactor by 57.3% during the 3rd quarter. CWM LLC now owns 2,867 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 1,044 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in FormFactor by 49.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,389 shares of the semiconductor company’s stock worth $156,000 after buying an additional 1,123 shares during the period. 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.