FormFactor (NASDAQ:FORM) Trading Down 6.7% Following Analyst Downgrade

FormFactor, Inc. (NASDAQ:FORM - Get Free Report) traded down 6.7% during mid-day trading on Friday after Stifel Nicolaus lowered their price target on the stock from $48.00 to $42.00. Stifel Nicolaus currently has a hold rating on the stock. FormFactor traded as low as $36.00 and last traded at $35.76. 394,081 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 922,777 shares. The stock had previously closed at $38.33.

FORM has been the topic of a number of other research reports. Needham & Company LLC reissued a "hold" rating on shares of FormFactor in a report on Thursday, February 6th. Citigroup upgraded FormFactor from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $44.00 to $51.00 in a research note on Monday, January 6th. Evercore ISI cut their target price on FormFactor from $50.00 to $43.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. B. Riley cut FormFactor from a "buy" rating to a "neutral" rating and decreased their price target for the company from $64.00 to $34.00 in a research report on Thursday, February 6th. Finally, TD Cowen cut their price objective on shares of FormFactor from $60.00 to $44.00 and set a "hold" rating for the company in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, FormFactor presently has a consensus rating of "Hold" and an average target price of $48.50.

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $40.59, for a total transaction of $162,360.00. Following the completion of the sale, the chief executive officer now directly owns 526,531 shares in the company, valued at $21,371,893.29. This represents a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 12,000 shares of company stock worth $496,040 over the last ninety days. Insiders own 0.96% of the company's stock.

Institutional Trading of FormFactor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Algert Global LLC raised its stake in shares of FormFactor by 134.4% in the third quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company's stock worth $2,440,000 after buying an additional 30,410 shares during the period. FMR LLC raised its stake in FormFactor by 1,255.5% during the 3rd quarter. FMR LLC now owns 116,426 shares of the semiconductor company's stock worth $5,356,000 after acquiring an additional 107,837 shares during the period. Citigroup Inc. lifted its holdings in FormFactor by 59.4% during the third quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company's stock valued at $4,867,000 after purchasing an additional 39,419 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of FormFactor by 14.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company's stock worth $362,000 after purchasing an additional 972 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of FormFactor in the third quarter worth $818,000. Institutional investors own 98.76% of the company's stock.

FormFactor Stock Down 1.6 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.61. The company's 50-day moving average price is $42.76 and its 200 day moving average price is $43.82. The stock has a market capitalization of $2.72 billion, a P/E ratio of 39.40 and a beta of 1.07.

FormFactor (NASDAQ:FORM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. As a group, equities analysts expect that FormFactor, Inc. will post 1.23 earnings per share for the current year.

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.