Evercore ISI Has Lowered Expectations for FormFactor (NASDAQ:FORM) Stock Price

FormFactor (NASDAQ:FORM) had its target price reduced by stock analysts at Evercore ISI from $50.00 to $43.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the semiconductor company’s stock. Evercore ISI’s price objective would suggest a potential upside of 17.17% from the stock’s previous close.

FORM has been the subject of several other reports. Needham & Company LLC restated a “hold” rating on shares of FormFactor in a report on Thursday. TD Cowen dropped their target price 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. B. Riley downgraded shares of FormFactor from a “buy” rating to a “neutral” rating and reduced their price target for the company from $64.00 to $34.00 in a research report on Thursday. Finally, Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $51.00 in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, FormFactor has a consensus rating of “Hold” and an average target price of $50.13.

FormFactor Trading Down 10.7 %

Shares of FORM traded down $4.42 during trading hours on Thursday, hitting $36.70. The company had a trading volume of 2,452,407 shares, compared to its average volume of 830,651. The stock’s 50 day moving average price is $43.00 and its 200 day moving average price is $44.35. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. FormFactor has a 52-week low of $32.71 and a 52-week high of $63.63. The firm has a market cap of $2.84 billion, a P/E ratio of 21.27 and a beta of 1.07.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a return on equity of 5.38% and a net margin of 18.29%. On average, research analysts predict that FormFactor will post 0.75 EPS for the current year.

Insider Activity

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total transaction of $177,760.00. Following the transaction, the chief executive officer now owns 522,531 shares of the company’s stock, valued at $23,221,277.64. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 12,000 shares of company stock valued at $496,040 in the last 90 days. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Large investors have recently made changes to their positions in the business. D.A. Davidson & CO. increased its holdings in FormFactor by 5.5% in the 4th quarter. D.A. Davidson & CO. now owns 5,510 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 288 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of FormFactor by 99.4% in the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 309 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of FormFactor by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company’s stock worth $276,000 after buying an additional 415 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of FormFactor by 63.8% in the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after buying an additional 440 shares in the last quarter. Finally, Quarry LP grew its holdings in FormFactor by 131.7% during the 3rd quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 523 shares in the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

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.