FormFactor (NASDAQ:FORM) Lowered to “Hold” at StockNews.com

FormFactor (NASDAQ:FORM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other equities analysts have also recently issued research reports about the stock. TheStreet raised shares of FormFactor from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Evercore ISI started coverage on FormFactor in a research note on Tuesday. They issued an “in-line” rating and a $50.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of FormFactor in a report on Thursday, February 8th. Finally, TD Cowen lifted their price target on shares of FormFactor from $33.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, FormFactor currently has a consensus rating of “Hold” and an average target price of $42.56.

FormFactor Trading Down 2.0 %

Shares of FORM stock opened at $42.09 on Friday. The company has a market cap of $3.26 billion, a P/E ratio of 39.71 and a beta of 1.18. FormFactor has a fifty-two week low of $24.88 and a fifty-two week high of $47.94. The stock has a 50 day simple moving average of $43.61 and a two-hundred day simple moving average of $39.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.38.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $168.16 million for the quarter, compared to the consensus estimate of $165.49 million. FormFactor had a net margin of 12.42% and a return on equity of 2.43%. Research analysts forecast that FormFactor will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $43.38, for a total value of $173,520.00. Following the completion of the sale, the chief executive officer now owns 499,781 shares in the company, valued at approximately $21,680,499.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $43.38, for a total value of $173,520.00. Following the transaction, the chief executive officer now directly owns 499,781 shares in the company, valued at $21,680,499.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shai Shahar sold 10,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the transaction, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,000 shares of company stock worth $1,223,580. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

Several institutional investors have recently added to or reduced their stakes in FORM. BlackRock Inc. lifted its stake in shares of FormFactor by 2.4% during the 2nd quarter. BlackRock Inc. now owns 12,733,906 shares of the semiconductor company’s stock valued at $435,754,000 after buying an additional 303,681 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of FormFactor by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock valued at $341,007,000 after purchasing an additional 224,599 shares during the period. Earnest Partners LLC lifted its holdings in FormFactor by 1.2% during the 3rd quarter. Earnest Partners LLC now owns 6,450,654 shares of the semiconductor company’s stock worth $225,386,000 after purchasing an additional 78,466 shares in the last quarter. Alliancebernstein L.P. boosted its stake in FormFactor by 24.2% in the 2nd quarter. Alliancebernstein L.P. now owns 3,485,470 shares of the semiconductor company’s stock worth $119,273,000 after purchasing an additional 678,330 shares during the period. Finally, State Street Corp grew its holdings in FormFactor by 0.4% during the 1st quarter. State Street Corp now owns 2,850,891 shares of the semiconductor company’s stock valued at $90,801,000 after buying an additional 11,027 shares in the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

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.