FormFactor (NASDAQ:FORM) Reaches New 1-Year Low - Here's Why

FormFactor, Inc. (NASDAQ:FORM - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $26.33 and last traded at $28.14, with a volume of 1098485 shares trading hands. The stock had previously closed at $27.91.

Analyst Ratings Changes

Several equities research analysts recently commented on FORM shares. B. Riley boosted their price objective on shares of FormFactor from $26.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday. Stifel Nicolaus cut their price target on FormFactor from $48.00 to $42.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC reiterated a "hold" rating on shares of FormFactor in a research note on Thursday. Citigroup raised FormFactor from a "neutral" rating to a "buy" rating and increased their target price for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Finally, DA Davidson lowered their price target on FormFactor from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $42.71.

FormFactor Stock Performance

The business has a fifty day moving average price of $29.16 and a 200-day moving average price of $37.21. The stock has a market capitalization of $2.33 billion, a P/E ratio of 34.00 and a beta of 1.14. The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. FormFactor had a net margin of 9.12% and a return on equity of 5.93%. The firm had revenue of $171.36 million for the quarter, compared to the consensus estimate of $170.03 million. During the same quarter last year, the firm posted $0.18 EPS. The business's quarterly revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that FormFactor, Inc. will post 0.9 EPS for the current year.

Insider Buying and Selling at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $38.98, for a total transaction of $155,920.00. Following the completion of the sale, the chief executive officer now directly owns 518,531 shares of the company's stock, valued at approximately $20,212,338.38. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 12,000 shares of company stock worth $395,760. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On FormFactor

Several hedge funds and other institutional investors have recently modified their holdings of FORM. Wealth Enhancement Advisory Services LLC grew its holdings in FormFactor by 14.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company's stock valued at $362,000 after purchasing an additional 972 shares during the period. Barclays PLC grew its stake in shares of FormFactor by 351.9% during the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company's stock valued at $6,692,000 after acquiring an additional 113,296 shares during the period. Franklin Resources Inc. increased its holdings in FormFactor by 5.1% in the 3rd quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company's stock worth $18,940,000 after acquiring an additional 18,810 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in FormFactor by 19.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 250,916 shares of the semiconductor company's stock valued at $11,040,000 after purchasing an additional 40,612 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of FormFactor by 4,732.4% in the fourth quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 1,609 shares during the period. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

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.