StockNews.com Lowers FormFactor (NASDAQ:FORM) to Hold

FormFactor (NASDAQ:FORM) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

FORM has been the subject of a number of other research reports. TheStreet upgraded shares of FormFactor from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Evercore ISI began coverage on shares of FormFactor in a research report on Tuesday. They set an “in-line” rating and a $50.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $46.00 price objective on shares of FormFactor in a research report on Thursday, February 8th. Finally, TD Cowen boosted their target price on shares of FormFactor from $33.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.56.

FormFactor Stock Performance

Shares of FormFactor stock opened at $42.09 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.38 and a quick ratio of 3.52. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 39.71 and a beta of 1.18. FormFactor has a 12 month low of $24.88 and a 12 month high of $47.94. The firm’s fifty day simple moving average is $43.61 and its 200-day simple moving average is $39.77.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $168.16 million for the quarter, compared to analyst estimates of $165.49 million. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. As a group, equities analysts forecast that FormFactor will post 0.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the transaction, the chief financial officer now directly owns 67,141 shares in the company, valued at approximately $2,827,978.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $45.94, for a total transaction of $183,760.00. Following the completion of the transaction, the chief executive officer now owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.12, for a total transaction of $421,200.00. Following the transaction, the chief financial officer now owns 67,141 shares of the company’s stock, valued at approximately $2,827,978.92. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock valued at $1,223,580 over the last 90 days. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FORM. Riverview Trust Co bought a new stake in shares of FormFactor during the first quarter valued at approximately $28,000. Belpointe Asset Management LLC raised its stake in shares of FormFactor by 170.1% during the first quarter. Belpointe Asset Management LLC now owns 1,086 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 684 shares in the last quarter. GAMMA Investing LLC acquired a new stake in FormFactor in the fourth quarter worth about $55,000. Quadrant Capital Group LLC lifted its holdings in FormFactor by 19.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 260 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in FormFactor in the 3rd quarter valued at about $70,000. 98.76% of the stock is owned by institutional investors and hedge funds.

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.