FormFactor (NASDAQ:FORM) Stock Price Down 7.7% - What's Next?

FormFactor, Inc. (NASDAQ:FORM - Get Free Report) dropped 7.7% during mid-day trading on Wednesday . The company traded as low as $42.19 and last traded at $43.58. Approximately 373,653 shares were traded during trading, a decline of 52% from the average daily volume of 771,262 shares. The stock had previously closed at $47.24.

Analyst Ratings Changes

Several brokerages have recently weighed in on FORM. Citigroup raised shares of FormFactor from a "neutral" rating to a "buy" rating and lifted their target price for the company from $44.00 to $51.00 in a report on Monday. Needham & Company LLC dropped their price target on FormFactor from $60.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Finally, TD Cowen lowered their price target on shares of FormFactor from $60.00 to $44.00 and set a "hold" rating on the stock in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, FormFactor has an average rating of "Moderate Buy" and a consensus target price of $56.00.

FormFactor Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76. The firm has a market capitalization of $3.42 billion, a P/E ratio of 25.35 and a beta of 1.08. The business has a fifty day moving average of $42.30 and a 200-day moving average of $46.94.

Insider Activity

In other news, CEO Mike Slessor sold 4,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $40.59, for a total value of $162,360.00. Following the completion of the sale, the chief executive officer now owns 526,531 shares in the company, valued at $21,371,893.29. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.96% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its stake in shares of FormFactor by 99.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 309 shares in the last quarter. Quarry LP increased 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. Redwood Wealth Management Group LLC purchased a new stake in shares of FormFactor during the 2nd quarter worth about $43,000. CWM LLC raised its position in FormFactor by 57.3% during the third quarter. CWM LLC now owns 2,867 shares of the semiconductor company's stock valued at $132,000 after acquiring an additional 1,044 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of FormFactor by 49.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,389 shares of the semiconductor company's stock valued at $156,000 after purchasing an additional 1,123 shares during the last quarter. Institutional investors and hedge funds own 98.76% of the company's stock.

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.