FormFactor (NASDAQ:FORM) Cut to Hold at Needham & Company LLC

Needham & Company LLC cut shares of FormFactor (NASDAQ:FORM) from a buy rating to a hold rating in a report published on Monday, MarketBeat Ratings reports.

A number of other equities analysts have also recently commented on the company. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $51.00 in a report on Monday, January 6th. TD Cowen cut their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.00.

FormFactor Stock Down 3.1 %

FORM opened at $42.84 on Monday. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 24.62 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 firm has a 50 day moving average price of $42.62 and a 200-day moving average price of $46.51.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the transaction, the chief executive officer now owns 522,531 shares of the company’s stock, valued at approximately $23,221,277.64. This represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several institutional investors have recently bought and sold shares of FORM. Xponance Inc. boosted its holdings in shares of FormFactor by 5.1% in the 2nd quarter. Xponance Inc. now owns 4,925 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 241 shares in the last quarter. Advisors Asset Management Inc. grew its position in FormFactor by 99.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 309 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of FormFactor by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company’s stock worth $276,000 after buying an additional 415 shares during the last quarter. Federated Hermes Inc. increased its position in shares of FormFactor by 9.2% in the 2nd quarter. Federated Hermes Inc. now owns 5,272 shares of the semiconductor company’s stock valued at $319,000 after acquiring an additional 445 shares during the period. Finally, Quarry LP lifted its position in FormFactor by 131.7% during the 3rd quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 523 shares during the period. 98.76% of the stock is 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.