FormFactor (NASDAQ:FORM) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of FormFactor (NASDAQ:FORM) from a buy rating to a hold rating in a research report report published on Tuesday.

FORM has been the topic of several other research reports. Craig Hallum upped their price objective on shares of FormFactor from $50.00 to $60.00 and gave the company a buy rating in a report on Thursday, May 2nd. B. Riley upped their target price on shares of FormFactor from $65.00 to $74.00 and gave the stock a buy rating in a report on Thursday, June 20th. Citigroup upped their target price on shares of FormFactor from $37.00 to $46.00 and gave the stock a neutral rating in a report on Thursday, May 2nd. TD Cowen upped their target price on shares of FormFactor from $48.00 to $60.00 and gave the stock a hold rating in a report on Thursday, August 1st. Finally, Needham & Company LLC restated a buy rating and issued a $70.00 target price on shares of FormFactor in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $59.63.

FormFactor Price Performance

FORM stock opened at $50.63 on Tuesday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 38.36 and a beta of 1.12. The company has a quick ratio of 3.67, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. FormFactor has a 12-month low of $30.94 and a 12-month high of $63.63. The company’s fifty day simple moving average is $54.08 and its 200 day simple moving average is $50.27.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $197.47 million for the quarter, compared to analyst estimates of $195.01 million. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. On average, analysts expect that FormFactor will post 0.72 earnings per share for the current year.

Insider Activity

In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.00, for a total transaction of $236,000.00. Following the completion of the transaction, the chief executive officer now directly owns 487,581 shares of the company’s stock, valued at approximately $28,767,279. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jorge Titinger sold 6,770 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the sale, the director now directly owns 12,970 shares in the company, valued at approximately $543,961.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $59.00, for a total transaction of $236,000.00. Following the sale, the chief executive officer now owns 487,581 shares in the company, valued at $28,767,279. The disclosure for this sale can be found here. Insiders sold 14,770 shares of company stock valued at $723,654 in the last three months. Company insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Institutional investors have recently modified their holdings of the business. Riverview Trust Co purchased a new stake in shares of FormFactor during the 1st quarter valued at approximately $28,000. Innealta Capital LLC purchased a new stake in shares of FormFactor during the 2nd quarter valued at approximately $38,000. Redwood Wealth Management Group LLC purchased a new stake in FormFactor in the 2nd quarter worth approximately $43,000. GAMMA Investing LLC purchased a new stake in FormFactor in the 4th quarter worth approximately $55,000. Finally, Quadrant Capital Group LLC lifted its stake in FormFactor by 19.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 260 shares in the last quarter. 98.76% of the stock is currently owned by hedge funds and other 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.