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

StockNews.com cut shares of FormFactor (NASDAQ:FORM - Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a buy rating and issued a $46.00 price objective on shares of FormFactor in a research note on Thursday, February 8th. TheStreet raised FormFactor from a c rating to a b- rating in a research note on Thursday, February 8th. TD Cowen boosted their target price on FormFactor from $33.00 to $37.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. Finally, Evercore ISI started coverage on FormFactor in a research note on Tuesday. They set an in-line rating and a $50.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, FormFactor has an average rating of Hold and a consensus target price of $42.56.

FormFactor Trading Down 3.2 %

FormFactor stock traded down $1.33 during trading on Friday, reaching $40.76. 571,621 shares of the company were exchanged, compared to its average volume of 452,945. FormFactor has a 52-week low of $24.88 and a 52-week high of $47.94. The company has a market capitalization of $3.16 billion, a P/E ratio of 38.56 and a beta of 1.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.38 and a quick ratio of 3.52. The stock's 50 day simple moving average is $43.61 and its two-hundred day simple moving average is $39.77.

FormFactor (NASDAQ:FORM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. The firm had revenue of $168.16 million for the quarter, compared to the consensus estimate of $165.49 million. On average, equities research analysts expect that FormFactor will post 0.63 earnings per share for the current fiscal year.

Insider Transactions at FormFactor

In other news, CFO Shai Shahar sold 10,000 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.12, for a total value of $421,200.00. Following the completion of the sale, the chief financial officer now directly owns 67,141 shares of the company's stock, valued at approximately $2,827,978.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Mike Slessor sold 4,000 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $45.94, for a total value of $183,760.00. Following the completion of the sale, the chief executive officer now directly owns 495,781 shares of the company's stock, valued at approximately $22,776,179.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shai Shahar sold 10,000 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the sale, the chief financial officer now directly owns 67,141 shares of the company's stock, valued at $2,827,978.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,000 shares of company stock valued at $1,223,580. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of FormFactor

Several institutional investors and hedge funds have recently added to or reduced their stakes in FORM. Wellington Management Group LLP raised its stake in FormFactor by 81.1% during the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company's stock valued at $80,387,000 after acquiring an additional 862,885 shares during the last quarter. Norges Bank acquired a new stake in shares of FormFactor in the 4th quarter valued at approximately $18,309,000. Alliancebernstein L.P. lifted its holdings in shares of FormFactor by 24.2% in the 2nd quarter. Alliancebernstein L.P. now owns 3,485,470 shares of the semiconductor company's stock valued at $119,273,000 after buying an additional 678,330 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of FormFactor by 122.1% in the 4th quarter. Point72 Asset Management L.P. now owns 1,057,308 shares of the semiconductor company's stock valued at $44,100,000 after buying an additional 581,308 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of FormFactor by 48.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,331,861 shares of the semiconductor company's stock valued at $29,607,000 after buying an additional 435,063 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.

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.