FormFactor (NASDAQ:FORM) Stock Rating Lowered by B. Riley

B. Riley downgraded shares of FormFactor (NASDAQ:FORM) from a buy rating to a neutral rating in a research report released on Thursday morning, MarketBeat Ratings reports. B. Riley currently has $34.00 target price on the semiconductor company’s stock, down from their previous target price of $64.00.

Other equities analysts have also recently issued research reports about the company. TD Cowen lowered their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Citigroup upgraded 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 research report on Monday, January 6th. Finally, Needham & Company LLC cut shares of FormFactor from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.50.

FormFactor Trading Down 6.8 %

Shares of FormFactor stock opened at $38.33 on Thursday. 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 12-month low of $32.71 and a 12-month high of $63.63. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 22.03 and a beta of 1.07. The firm’s 50-day moving average price is $42.98 and its two-hundred day moving average price is $44.30.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (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, analysts forecast that FormFactor will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction 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 in the company, valued at approximately $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 accessible through the SEC website. Over the last three months, insiders have sold 12,000 shares of company stock worth $496,040. Insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

A number of institutional investors and hedge funds have recently bought and sold shares of FORM. Algert Global LLC grew its position in shares of FormFactor by 134.4% in the 3rd quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company’s stock valued at $2,440,000 after buying an additional 30,410 shares during the last quarter. FMR LLC lifted its stake in shares of FormFactor by 1,255.5% in the third quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock worth $5,356,000 after acquiring an additional 107,837 shares during the period. Citigroup Inc. boosted its holdings in FormFactor by 59.4% in the third quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company’s stock valued at $4,867,000 after acquiring an additional 39,419 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in FormFactor by 14.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company’s stock valued at $362,000 after purchasing an additional 972 shares during the period. Finally, Intech Investment Management LLC bought a new position in FormFactor during the 3rd quarter worth approximately $818,000. 98.76% of the stock is currently 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.