FormFactor (NASDAQ:FORM) Trading Down 5.1% – Here’s What Happened

FormFactor, Inc. (NASDAQ:FORM) shares dropped 5.1% on Tuesday . The company traded as low as $31.79 and last traded at $31.18. Approximately 35,474 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 884,649 shares. The stock had previously closed at $32.86.

Analyst Upgrades and Downgrades

FORM has been the subject of a number of recent analyst reports. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $51.00 in a report on Monday, January 6th. Evercore ISI lowered their price target 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. Stifel Nicolaus decreased their target price on shares of FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research note on Thursday, February 6th. Finally, B. Riley downgraded shares of FormFactor from a “buy” rating to a “neutral” rating and cut their target price for the stock from $64.00 to $34.00 in a research note on Thursday, February 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.50.

FormFactor Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61. The company’s fifty day simple moving average is $38.52 and its two-hundred day simple moving average is $41.82. The stock has a market capitalization of $2.38 billion, a PE ratio of 34.43 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a return on equity of 5.93% and a net margin of 9.12%. As a group, sell-side analysts predict that FormFactor, Inc. will post 0.9 EPS for the current year.

Insider Buying and Selling

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Monday, February 3rd. The shares were 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 of the company’s stock, valued at $20,212,338.38. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Hedge funds have recently made changes to their positions in the company. Algert Global LLC raised its stake in shares of FormFactor by 134.4% during the third quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company’s stock valued at $2,440,000 after purchasing an additional 30,410 shares during the period. FMR LLC increased its stake in shares of FormFactor by 1,255.5% in the third quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock worth $5,356,000 after buying an additional 107,837 shares during the last quarter. Citigroup Inc. increased its stake in shares of FormFactor by 59.4% in the third quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company’s stock worth $4,867,000 after buying an additional 39,419 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of FormFactor by 14.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company’s stock worth $362,000 after buying an additional 972 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of FormFactor in the third quarter worth $818,000. 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.