FormFactor (NASDAQ:FORM) Stock Price Down 7.7% – Here’s Why

FormFactor, Inc. (NASDAQ:FORM) shares fell 7.7% on Wednesday . The stock traded as low as $42.19 and last traded at $43.58. 373,653 shares were traded during trading, a decline of 52% from the average session volume of 771,262 shares. The stock had previously closed at $47.24.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FORM shares. Needham & Company LLC decreased their price objective on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, October 31st. TD Cowen decreased their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Finally, Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $51.00 in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

FormFactor Trading Down 6.9 %

The firm has a market capitalization of $3.41 billion, a P/E ratio of 25.28 and a beta of 1.08. The stock’s 50-day simple moving average is $42.30 and its two-hundred day simple moving average is $46.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 522,531 shares of the company’s stock, valued at approximately $23,221,277.64. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC increased its stake in FormFactor by 134.4% in the 3rd quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company’s stock worth $2,440,000 after acquiring an additional 30,410 shares during the last quarter. FMR LLC increased its position in 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 purchasing an additional 107,837 shares during the last quarter. Citigroup Inc. raised its stake in FormFactor by 59.4% during the third quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company’s stock valued at $4,867,000 after purchasing an additional 39,419 shares in the last quarter. Intech Investment Management LLC bought a new position in FormFactor during the third quarter valued at $818,000. Finally, Barclays PLC lifted its position in FormFactor by 351.9% during the third quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after purchasing an additional 113,296 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

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.