FormFactor (NASDAQ:FORM) Sets New 52-Week Low - Here's What Happened

FormFactor, Inc. (NASDAQ:FORM - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $32.46 and last traded at $33.40, with a volume of 105346 shares. The stock had previously closed at $32.96.

Analysts Set New Price Targets

Several brokerages recently weighed in on FORM. Citigroup upgraded FormFactor from a "neutral" rating to a "buy" rating and lifted their price target for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Stifel Nicolaus reduced their price target on FormFactor from $48.00 to $42.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Evercore ISI reduced their price target on FormFactor from $50.00 to $43.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. B. Riley cut FormFactor from a "buy" rating to a "neutral" rating and reduced their price target for the company from $64.00 to $34.00 in a research report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, FormFactor currently has a consensus rating of "Hold" and an average target price of $48.50.

FormFactor Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.83. The firm has a fifty day simple moving average of $40.17 and a 200 day simple moving average of $42.54. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 35.46 and a beta of 1.07.

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FormFactor (NASDAQ:FORM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The semiconductor company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. On average, analysts anticipate that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total value of $155,920.00. Following the sale, the chief executive officer now directly owns 518,531 shares of the company's stock, valued at $20,212,338.38. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.96% of the company's stock.

Institutional Trading of FormFactor

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of FormFactor in the fourth quarter worth approximately $27,000. Advisors Asset Management Inc. boosted its stake in shares of FormFactor by 99.4% in the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 309 shares during the last quarter. Quarry LP boosted its stake in shares of FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 523 shares during the last quarter. Pinpoint Asset Management Ltd acquired a new position in FormFactor during the fourth quarter worth $43,000. Finally, Manchester Capital Management LLC boosted its stake in FormFactor by 63.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company's stock worth $50,000 after buying an additional 440 shares during the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

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.