FormFactor (NASDAQ:FORM) Hits New 12-Month Low – Here’s Why

Shares of FormFactor, Inc. (NASDAQ:FORM) hit a new 52-week low during trading on Wednesday . The company traded as low as $30.22 and last traded at $30.74, with a volume of 924404 shares trading hands. The stock had previously closed at $32.86.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FORM shares. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a report on Thursday, February 6th. Stifel Nicolaus dropped their price objective on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Evercore ISI cut their price objective on FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Finally, B. Riley lowered FormFactor from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $64.00 to $34.00 in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.50.

FormFactor Stock Down 6.5 %

The company has a market cap of $2.38 billion, a price-to-earnings ratio of 34.54 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.83. The firm has a 50-day moving average price of $38.78 and a 200 day moving average price of $41.90.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, February 5th. The semiconductor company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. Sell-side analysts predict that FormFactor, Inc. will post 0.9 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total transaction of $155,920.00. Following the sale, the chief executive officer now owns 518,531 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. 0.96% of the stock is owned by insiders.

Institutional Trading of FormFactor

A number of institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. raised its stake in FormFactor by 5.5% in the fourth quarter. D.A. Davidson & CO. now owns 5,510 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 288 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in FormFactor by 99.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 309 shares during the period. Aviva PLC raised its position in shares of FormFactor by 2.3% in the 4th quarter. Aviva PLC now owns 14,750 shares of the semiconductor company’s stock valued at $649,000 after buying an additional 331 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of FormFactor by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock worth $356,000 after acquiring an additional 400 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in shares of FormFactor by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 415 shares in the last quarter. 98.76% of the stock is currently owned by 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.