FormFactor (NASDAQ:FORM) Sets New 52-Week Low Following Analyst Downgrade

FormFactor, Inc. (NASDAQ:FORMGet Rating) hit a new 52-week low during trading on Thursday after Citigroup lowered their price target on the stock from $45.00 to $42.00. Citigroup currently has a buy rating on the stock. FormFactor traded as low as $32.78 and last traded at $33.72, with a volume of 4302 shares trading hands. The stock had previously closed at $40.27.

Other analysts have also recently issued reports about the stock. CL King lifted their price objective on shares of FormFactor from $43.00 to $45.00 in a research note on Tuesday, April 12th. StockNews.com began coverage on shares of FormFactor in a research note on Thursday, March 31st. They issued a “buy” rating for the company. B. Riley decreased their target price on shares of FormFactor from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, June 15th. Stifel Nicolaus decreased their target price on shares of FormFactor from $51.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, April 25th. Finally, Needham & Company LLC reiterated a “maintains” rating on shares of FormFactor in a research note on Thursday. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $46.00.

Insiders Place Their Bets

In other FormFactor news, Director Raymond A. Link sold 1,600 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $40.23, for a total transaction of $64,368.00. Following the completion of the transaction, the director now directly owns 61,392 shares in the company, valued at $2,469,800.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FormFactor

A number of large investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust raised its position in FormFactor by 10.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 443,482 shares of the semiconductor company’s stock worth $17,176,000 after acquiring an additional 41,968 shares during the period. Emerald Advisers LLC grew its holdings in shares of FormFactor by 1.1% during the second quarter. Emerald Advisers LLC now owns 508,903 shares of the semiconductor company’s stock worth $19,710,000 after buying an additional 5,678 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of FormFactor by 291.7% during the second quarter. SG Americas Securities LLC now owns 9,621 shares of the semiconductor company’s stock worth $373,000 after buying an additional 7,165 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of FormFactor during the second quarter worth $890,000. Finally, KBC Group NV purchased a new stake in shares of FormFactor during the second quarter worth $265,000. 92.86% of the stock is currently owned by institutional investors and hedge funds.

FormFactor Price Performance

The firm has a market cap of $2.78 billion, a PE ratio of 29.63 and a beta of 1.32. The stock’s fifty day moving average price is $38.07 and its 200-day moving average price is $39.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.60 and a quick ratio of 2.78.

FormFactor (NASDAQ:FORMGet Rating) last released its earnings results on Wednesday, July 27th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. FormFactor had a net margin of 12.07% and a return on equity of 13.56%. The business had revenue of $203.90 million during the quarter, compared to analyst estimates of $203.14 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that FormFactor, Inc. will post 1.56 EPS for the current fiscal year.

FormFactor Company Profile

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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. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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