FormFactor (NASDAQ:FORM) Shares Gap Down - Here's What Happened

FormFactor, Inc. (NASDAQ:FORM - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $44.22, but opened at $42.00. FormFactor shares last traded at $42.74, with a volume of 96,712 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FORM shares. Needham & Company LLC downgraded shares of FormFactor from a "buy" rating to a "hold" rating in a research note on Monday. Citigroup raised 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 report on Monday, January 6th. Finally, TD Cowen cut their price target on FormFactor from $60.00 to $44.00 and set a "hold" rating on the stock in a research 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $56.00.

FormFactor Trading Down 3.1 %

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 company has a fifty day moving average of $42.62 and a two-hundred day moving average of $46.51. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 24.62 and a beta of 1.08.

Insider Buying and Selling at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total transaction of $177,760.00. Following the sale, the chief executive officer now directly owns 522,531 shares in the company, valued at approximately $23,221,277.64. The trade was a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of FormFactor

Several hedge funds and other institutional investors have recently made changes to their positions in FORM. Xponance Inc. increased its holdings in FormFactor by 5.1% in the second 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. raised its holdings in FormFactor by 99.4% during the third 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 boosted its position in FormFactor by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company's stock worth $276,000 after purchasing an additional 415 shares in the last quarter. Federated Hermes Inc. grew its holdings in FormFactor by 9.2% in the second quarter. Federated Hermes Inc. now owns 5,272 shares of the semiconductor company's stock valued at $319,000 after purchasing an additional 445 shares during the last quarter. Finally, Quarry LP increased its position in shares of FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company's stock valued at $42,000 after buying an additional 523 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company's stock.

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.