FormFactor (NASDAQ:FORM) Shares Gap Down After Analyst Downgrade

FormFactor, Inc. (NASDAQ:FORM - Get Free Report) gapped down prior to trading on Thursday after Needham & Company LLC lowered their price target on the stock from $60.00 to $52.00. The stock had previously closed at $43.81, but opened at $40.15. Needham & Company LLC currently has a buy rating on the stock. FormFactor shares last traded at $40.15, with a volume of 285,292 shares changing hands.

FORM has been the subject of several other reports. Stifel Nicolaus raised their price target on FormFactor from $50.00 to $55.00 and gave the stock a "hold" rating in a research report on Tuesday, July 16th. TD Cowen dropped their target price on FormFactor from $60.00 to $44.00 and set a "hold" rating for the company in a research report on Thursday. StockNews.com cut shares of FormFactor from a "buy" rating to a "hold" rating in a research report on Tuesday, August 27th. Finally, DA Davidson raised their price objective on shares of FormFactor from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $55.38.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total transaction of $185,240.00. Following the completion of the transaction, the chief executive officer now directly owns 534,276 shares of the company's stock, valued at approximately $24,742,321.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total value of $283,933.80. Following the completion of the sale, the director now directly owns 12,970 shares of the company's stock, valued at approximately $543,961.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total transaction of $185,240.00. Following the completion of the transaction, the chief executive officer now directly owns 534,276 shares in the company, valued at $24,742,321.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,770 shares of company stock worth $650,294 over the last ninety days. Corporate insiders own 0.96% of the company's stock.

Institutional Trading of FormFactor

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of FormFactor by 1.6% in the first quarter. Vanguard Group Inc. now owns 9,622,484 shares of the semiconductor company's stock valued at $439,074,000 after purchasing an additional 154,361 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of FormFactor by 0.6% during the 1st quarter. Earnest Partners LLC now owns 6,091,217 shares of the semiconductor company's stock worth $277,942,000 after acquiring an additional 37,781 shares during the period. Hood River Capital Management LLC boosted its position in shares of FormFactor by 7.2% in the first quarter. Hood River Capital Management LLC now owns 2,079,052 shares of the semiconductor company's stock worth $94,867,000 after acquiring an additional 140,223 shares during the last quarter. Sei Investments Co. grew its holdings in FormFactor by 5.4% in the first quarter. Sei Investments Co. now owns 1,493,665 shares of the semiconductor company's stock valued at $68,156,000 after purchasing an additional 76,032 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of FormFactor by 91.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company's stock worth $77,636,000 after buying an additional 612,838 shares during the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

FormFactor Stock Down 13.3 %

The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 28.77 and a beta of 1.11. The company has a quick ratio of 3.64, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $45.32 and a two-hundred day moving average of $50.63.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.05. The business had revenue of $197.47 million during the quarter, compared to analysts' expectations of $195.01 million. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. As a group, analysts predict that FormFactor, Inc. will post 0.74 EPS for the current fiscal year.

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.