Stifel Nicolaus Has Lowered Expectations for FormFactor (NASDAQ:FORM) Stock Price

FormFactor (NASDAQ:FORM) had its target price cut by Stifel Nicolaus from $48.00 to $42.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target points to a potential upside of 17.19% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of FormFactor in a research note on Thursday. B. Riley lowered FormFactor from a “buy” rating to a “neutral” rating and dropped their price target for the company from $64.00 to $34.00 in a research report on Thursday. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $51.00 in a research report on Monday, January 6th. Evercore ISI dropped their target price on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a report on Thursday. Finally, TD Cowen reduced their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Six equities research 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 a consensus target price of $48.50.

FormFactor Trading Down 6.5 %

NASDAQ:FORM opened at $35.84 on Thursday. The stock has a fifty day simple moving average of $42.89 and a 200 day simple moving average of $44.14. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 20.60 and a beta of 1.07. FormFactor has a 1-year low of $32.71 and a 1-year high of $63.63. 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 (NASDAQ:FORM) last announced 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%. Sell-side analysts forecast that FormFactor will post 0.75 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total value of $177,760.00. Following the completion of the sale, the chief executive officer now directly owns 522,531 shares in the company, valued at approximately $23,221,277.64. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Algert Global LLC raised its stake 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 acquiring an additional 30,410 shares in the last quarter. FMR LLC grew its holdings in FormFactor by 1,255.5% during the third quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock valued at $5,356,000 after purchasing an additional 107,837 shares during the last quarter. Citigroup Inc. raised its position in shares of 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 purchasing an additional 39,419 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of FormFactor by 14.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company’s stock worth $362,000 after buying an additional 972 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of FormFactor during the 3rd quarter worth $818,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

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.