FormFactor (NASDAQ:FORM) Reaches New 52-Week Low After Earnings Miss

FormFactor, Inc. (NASDAQ:FORM - Get Free Report)'s share price reached a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $32.71 and last traded at $37.70, with a volume of 1298945 shares trading hands. The stock had previously closed at $41.12.

The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.14). FormFactor had a return on equity of 5.93% and a net margin of 9.12%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of FormFactor from $48.00 to $42.00 and set a "hold" rating on the stock in a report on Thursday. TD Cowen dropped their price objective on FormFactor from $60.00 to $44.00 and set a "hold" rating for the company in a report on Thursday, October 31st. B. Riley lowered FormFactor from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $64.00 to $34.00 in a research report on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a research report on Thursday. Finally, Citigroup raised shares of FormFactor from a "neutral" rating to a "buy" rating and upped their target price for the company from $44.00 to $51.00 in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, FormFactor has an average rating of "Hold" and a consensus target price of $48.50.

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.98, for a total transaction of $155,920.00. Following the sale, the chief executive officer now owns 518,531 shares in the company, valued at approximately $20,212,338.38. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 12,000 shares of company stock worth $496,040. Corporate insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On FormFactor

A number of hedge funds and other institutional investors have recently bought and sold shares of FORM. Advisors Asset Management Inc. lifted its holdings in FormFactor by 99.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 309 shares during the last quarter. Quarry LP boosted its holdings in shares of FormFactor by 131.7% during the 3rd quarter. Quarry LP now owns 920 shares of the semiconductor company's stock worth $42,000 after buying an additional 523 shares during the period. Manchester Capital Management LLC grew its stake in FormFactor by 63.8% in the 4th quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company's stock valued at $50,000 after buying an additional 440 shares during the last quarter. IFP Advisors Inc lifted its position in FormFactor by 4,732.4% during the fourth quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company's stock worth $72,000 after acquiring an additional 1,609 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of FormFactor by 146.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,986 shares of the semiconductor company's stock worth $90,000 after acquiring an additional 1,181 shares during the period. Institutional investors own 98.76% of the company's stock.

FormFactor Stock Performance

The company has a market cap of $2.77 billion, a P/E ratio of 40.15 and a beta of 1.07. The stock has a 50 day moving average price of $42.89 and a two-hundred day moving average price of $43.94. The company has a quick ratio of 3.94, a current ratio of 4.61 and a debt-to-equity ratio of 0.01.

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.