FormFactor (NASDAQ:FORM) Shares Down 5.1% – Here’s What Happened

FormFactor, Inc. (NASDAQ:FORM)’s share price fell 5.1% during trading on Tuesday . The company traded as low as $31.79 and last traded at $31.18. 35,474 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 884,649 shares. The stock had previously closed at $32.86.

Analysts Set New Price Targets

A number of research firms have commented on FORM. B. Riley downgraded shares of FormFactor from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $64.00 to $34.00 in a report on Thursday, February 6th. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $51.00 in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a report on Thursday, February 6th. Evercore ISI reduced their price objective on shares of FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus reduced their price objective on shares of FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $48.50.

FormFactor Trading Down 0.2 %

The firm has a market cap of $2.38 billion, a P/E ratio of 34.43 and a beta of 1.07. The company has a 50 day moving average of $38.52 and a 200 day moving average of $41.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61.

FormFactor (NASDAQ:FORM) last announced its quarterly 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 net margin of 9.12% and a return on equity of 5.93%. Analysts predict that FormFactor, Inc. will post 0.9 EPS for the current fiscal year.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total transaction of $155,920.00. Following the completion of the transaction, the chief executive officer now directly owns 518,531 shares in the company, valued at $20,212,338.38. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in shares of FormFactor during the fourth quarter worth approximately $27,000. Advisors Asset Management Inc. raised its stake 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 valued at $29,000 after purchasing an additional 309 shares in the last quarter. Quarry LP raised its stake in shares of FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 523 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new position in shares of FormFactor in the fourth quarter valued at $43,000. Finally, Manchester Capital Management LLC raised its stake 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 valued at $50,000 after purchasing an additional 440 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

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.