FormFactor (NASDAQ:FORM) Trading Down 7.7% – Should You Sell?

FormFactor, Inc. (NASDAQ:FORM) shares dropped 7.7% on Wednesday . The company traded as low as $42.19 and last traded at $43.58. Approximately 373,653 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 771,262 shares. The stock had previously closed at $47.24.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Needham & Company LLC reduced their target price on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $51.00 in a research note on Monday. Finally, TD Cowen lowered their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

FormFactor Stock Performance

The company has a 50-day simple moving average of $42.43 and a two-hundred day simple moving average of $46.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76. The firm has a market capitalization of $3.42 billion, a P/E ratio of 25.41 and a beta of 1.08.

Insider Buying and Selling

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total value of $177,760.00. Following the sale, the chief executive officer now directly owns 522,531 shares of the company’s stock, valued at approximately $23,221,277.64. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On FormFactor

Several large investors have recently modified their holdings of FORM. Advisors Asset Management Inc. increased its stake in 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 purchasing an additional 309 shares in the last quarter. Quarry LP increased its position in shares of FormFactor by 131.7% during the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 523 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in FormFactor in the 2nd quarter worth approximately $43,000. CWM LLC lifted its position in FormFactor by 57.3% in the 3rd quarter. CWM LLC now owns 2,867 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 1,044 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in FormFactor by 49.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,389 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 1,123 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.