FormFactor (NASDAQ:FORM) Rating Lowered to Hold at Needham & Company LLC

Needham & Company LLC cut shares of FormFactor (NASDAQ:FORM - Free Report) from a buy rating to a hold rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports.

FORM has been the topic of a number of other research reports. Citigroup raised shares of FormFactor from a "neutral" rating to a "buy" rating and lifted their price target for the company from $44.00 to $51.00 in a research note on Monday, January 6th. TD Cowen dropped their price target on shares of FormFactor from $60.00 to $44.00 and set a "hold" rating on the stock in a research note 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, FormFactor currently has an average rating of "Hold" and a consensus price target of $56.00.

FormFactor Stock Performance

Shares of NASDAQ:FORM traded down $1.36 during trading on Monday, hitting $42.86. 135,789 shares of the stock traded hands, compared to its average volume of 811,276. 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 market cap of $3.32 billion, a price-to-earnings ratio of 24.63 and a beta of 1.08. The company has a fifty day moving average price of $42.54 and a two-hundred day moving average price of $46.62. FormFactor has a 52-week low of $37.25 and a 52-week high of $63.63.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $40.59, for a total transaction of $162,360.00. Following the transaction, the chief executive officer now owns 526,531 shares of the company's stock, valued at approximately $21,371,893.29. The trade was a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FORM. State Street Corp raised its holdings in FormFactor by 1.4% in the 3rd quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company's stock valued at $134,019,000 after buying an additional 39,784 shares during the period. Geode Capital Management LLC raised its holdings in FormFactor by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company's stock valued at $95,105,000 after buying an additional 73,982 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in FormFactor by 8.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company's stock valued at $48,928,000 after buying an additional 79,191 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in FormFactor by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 886,103 shares of the semiconductor company's stock valued at $40,761,000 after buying an additional 32,889 shares during the period. Finally, Needham Investment Management LLC raised its holdings in FormFactor by 8.6% in the 3rd quarter. Needham Investment Management LLC now owns 620,000 shares of the semiconductor company's stock valued at $28,520,000 after buying an additional 49,000 shares during the period. 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.