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

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.

Wall Street Zen downgraded shares of FormFactor (NASDAQ:FORM - Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently weighed in on FORM. B. Riley raised their price target on FormFactor from $26.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a report on Thursday, May 1st. Evercore ISI dropped their target price on FormFactor from $43.00 to $33.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. DA Davidson dropped their target price on FormFactor from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Stifel Nicolaus dropped their target price on FormFactor from $34.00 to $31.00 and set a "hold" rating for the company in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $41.14.

FormFactor Price Performance

Shares of NASDAQ:FORM traded down $1.08 during trading on Friday, hitting $28.06. 371,188 shares of the company's stock were exchanged, compared to its average volume of 825,694. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.24 and a quick ratio of 3.34. FormFactor has a 52-week low of $22.58 and a 52-week high of $51.68. The business's 50-day simple moving average is $33.76 and its 200 day simple moving average is $32.75. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 50.11 and a beta of 1.16.

FormFactor (NASDAQ:FORM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $0.27 earnings per share 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 analysts' expectations of $190.17 million. FormFactor had a net margin of 5.75% and a return on equity of 5.57%. The business's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, equities analysts predict that FormFactor will post 0.9 EPS for the current year.

Insiders Place Their Bets

In related news, Director Dennis Thomas St sold 3,000 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $31.24, for a total transaction of $93,720.00. Following the transaction, the director directly owned 40,957 shares in the company, valued at $1,279,496.68. The trade was a 6.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of FormFactor

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of FormFactor by 52.3% in the first quarter. GAMMA Investing LLC now owns 5,279 shares of the semiconductor company's stock worth $149,000 after buying an additional 1,813 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in FormFactor by 104.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,245 shares of the semiconductor company's stock worth $431,000 after purchasing an additional 7,787 shares during the period. Victory Capital Management Inc. raised its holdings in FormFactor by 2.8% in the 1st quarter. Victory Capital Management Inc. now owns 21,643 shares of the semiconductor company's stock worth $612,000 after purchasing an additional 599 shares during the period. CWM LLC raised its holdings in FormFactor by 19.9% in the 1st quarter. CWM LLC now owns 2,303 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 382 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in FormFactor by 118.1% in the 4th quarter. JPMorgan Chase & Co. now owns 509,399 shares of the semiconductor company's stock worth $22,414,000 after purchasing an additional 275,824 shares during the period. Hedge funds and other 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.