FormFactor (NASDAQ:FORM) Stock Rating Lowered by B. Riley

FormFactor (NASDAQ:FORM) was downgraded by investment analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports. They currently have a $34.00 price objective on the semiconductor company’s stock, down from their previous price objective of $64.00. B. Riley’s target price points to a potential downside of 5.13% from the stock’s current price.

Other analysts also recently issued reports about the company. TD Cowen cut their price objective on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Citigroup raised 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. Finally, Needham & Company LLC downgraded FormFactor from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.50.

FormFactor Stock Down 6.5 %

NASDAQ FORM opened at $35.84 on Thursday. FormFactor has a 52 week low of $32.71 and a 52 week 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. The business’s fifty day simple moving average is $42.89 and its 200-day simple moving average is $44.14. The firm has a market cap of $2.78 billion, a PE ratio of 20.60 and a beta of 1.07.

FormFactor (NASDAQ:FORM) last posted its quarterly 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%. As a group, equities analysts anticipate that FormFactor will post 0.75 earnings per share for the current year.

Insider Buying and Selling at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total value of $177,760.00. Following the completion of the transaction, the chief executive officer now directly owns 522,531 shares of the company’s stock, valued at $23,221,277.64. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 12,000 shares of company stock valued at $496,040 in the last three months. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FormFactor

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Channing Capital Management LLC boosted its stake in shares of FormFactor by 10.3% in the 4th quarter. Channing Capital Management LLC now owns 1,527,851 shares of the semiconductor company’s stock valued at $67,225,000 after buying an additional 142,776 shares during the period. Moran Wealth Management LLC boosted its stake in shares of FormFactor by 13.7% in the 4th quarter. Moran Wealth Management LLC now owns 11,317 shares of the semiconductor company’s stock valued at $498,000 after buying an additional 1,362 shares during the period. Amundi boosted its stake in shares of FormFactor by 186.7% in the 4th quarter. Amundi now owns 39,058 shares of the semiconductor company’s stock valued at $1,723,000 after buying an additional 25,434 shares during the period. Inceptionr LLC boosted its stake in shares of FormFactor by 118.9% in the 4th quarter. Inceptionr LLC now owns 11,468 shares of the semiconductor company’s stock valued at $505,000 after buying an additional 6,229 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of FormFactor in the 4th quarter valued at about $14,222,000. Hedge funds and other institutional investors 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.