FormFactor (NASDAQ:FORM) Downgraded by Wall Street Zen to Sell

Key Points

• FormFactor has been downgraded by Wall Street Zen from a "hold" to a "sell" rating, reflecting a negative outlook from analysts.
• The company recently reported earnings of $0.27 per share, missing the consensus estimate of $0.30, despite revenues surpassing expectations at $195.80 million.
• The stock has a consensus rating of "Hold" with a target price of $41.14, while various analysts have provided mixed ratings and price targets, highlighting uncertainty in investor sentiment.

FormFactor (NASDAQ:FORM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Other analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of FormFactor in a report on Thursday, May 1st. B. Riley upped their price objective on shares of FormFactor from $26.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Stifel Nicolaus decreased their price objective on shares of FormFactor from $34.00 to $31.00 and set a "hold" rating for the company in a report on Thursday. Evercore ISI reduced their price target on shares of FormFactor from $43.00 to $33.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Finally, DA Davidson reduced their price target on shares of FormFactor from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, FormFactor presently has a consensus rating of "Hold" and a consensus target price of $41.14.

FormFactor Stock Performance

Shares of FORM opened at $28.93 on Friday. The company's fifty day moving average is $33.84 and its 200-day moving average is $33.02. FormFactor has a 12 month low of $22.58 and a 12 month high of $51.68. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 51.66 and a beta of 1.16. The company has a quick ratio of 3.56, a current ratio of 4.24 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $195.80 million for the quarter, compared to the consensus estimate of $190.17 million. FormFactor had a return on equity of 5.57% and a net margin of 5.75%. FormFactor's quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. Equities analysts expect that FormFactor will post 0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dennis Thomas St sold 3,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $31.24, for a total value of $93,720.00. Following the completion of the transaction, the director owned 40,957 shares in the company, valued at approximately $1,279,496.68. This represents a 6.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FormFactor

A number of hedge funds have recently made changes to their positions in FORM. Westfield Capital Management Co. LP acquired a new position in shares of FormFactor in the 1st quarter valued at $25,838,000. Massachusetts Financial Services Co. MA raised its stake in shares of FormFactor by 82.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,963,727 shares of the semiconductor company's stock valued at $55,554,000 after buying an additional 885,617 shares in the last quarter. Reinhart Partners LLC. raised its stake in shares of FormFactor by 64.8% in the 2nd quarter. Reinhart Partners LLC. now owns 1,904,698 shares of the semiconductor company's stock valued at $65,541,000 after buying an additional 749,088 shares in the last quarter. Earnest Partners LLC raised its stake in shares of FormFactor by 10.9% in the 4th quarter. Earnest Partners LLC now owns 6,037,082 shares of the semiconductor company's stock valued at $265,632,000 after buying an additional 594,426 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of FormFactor by 29.9% in the 4th quarter. Bank of America Corp DE now owns 2,542,296 shares of the semiconductor company's stock valued at $111,861,000 after buying an additional 585,117 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.