FormFactor (NASDAQ:FORM) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of FormFactor (NASDAQ:FORM) from a buy rating to a hold rating in a report released on Tuesday morning.

Other equities research analysts also recently issued reports about the company. Citigroup upped their price objective on FormFactor from $37.00 to $46.00 and gave the company a neutral rating in a research report on Thursday, May 2nd. B. Riley upped their price objective on FormFactor from $65.00 to $74.00 and gave the company a buy rating in a research report on Thursday, June 20th. Stifel Nicolaus upped their target price on FormFactor from $50.00 to $55.00 and gave the company a hold rating in a research note on Tuesday, July 16th. DA Davidson upped their target price on FormFactor from $55.00 to $62.00 and gave the company a buy rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a buy rating and set a $70.00 target price on shares of FormFactor in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, FormFactor presently has a consensus rating of Hold and an average price target of $59.63.

FormFactor Stock Down 0.0 %

Shares of NASDAQ:FORM opened at $48.77 on Tuesday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 36.95 and a beta of 1.12. FormFactor has a 12 month low of $31.19 and a 12 month high of $63.63. The company has a current ratio of 4.46, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $53.50 and a 200 day moving average price of $50.30.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. The business had revenue of $197.47 million for the quarter, compared to the consensus estimate of $195.01 million. As a group, equities research analysts predict that FormFactor will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $59.00, for a total transaction of $236,000.00. Following the transaction, the chief executive officer now directly owns 487,581 shares in the company, valued at approximately $28,767,279. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $59.00, for a total value of $236,000.00. Following the completion of the transaction, the chief executive officer now directly owns 487,581 shares of the company’s stock, valued at approximately $28,767,279. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jorge Titinger sold 6,770 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the sale, the director now directly owns 12,970 shares of the company’s stock, valued at $543,961.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,770 shares of company stock worth $723,654. 0.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FormFactor

Several institutional investors have recently bought and sold shares of FORM. Teachers Retirement System of The State of Kentucky boosted its holdings in FormFactor by 6.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 44,395 shares of the semiconductor company’s stock worth $2,687,000 after acquiring an additional 2,656 shares in the last quarter. Creative Planning boosted its stake in FormFactor by 57.4% in the 2nd quarter. Creative Planning now owns 10,200 shares of the semiconductor company’s stock worth $617,000 after purchasing an additional 3,720 shares in the last quarter. Algert Global LLC acquired a new stake in FormFactor in the 2nd quarter worth approximately $1,370,000. Driehaus Capital Management LLC purchased a new stake in FormFactor during the 2nd quarter worth approximately $15,893,000. Finally, Scientech Research LLC increased its stake in FormFactor by 65.6% during the 2nd quarter. Scientech Research LLC now owns 9,947 shares of the semiconductor company’s stock valued at $602,000 after purchasing an additional 3,942 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.