FormFactor (NASDAQ:FORM) Sets New 1-Year Low – Here’s What Happened

FormFactor, Inc. (NASDAQ:FORM)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $25.66 and last traded at $25.89, with a volume of 236172 shares traded. The stock had previously closed at $28.73.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. B. Riley lowered shares of FormFactor from a “buy” rating to a “neutral” rating and reduced their price target for the company from $64.00 to $34.00 in a research report on Thursday, February 6th. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $51.00 in a report on Monday, January 6th. Evercore ISI decreased their price target on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a research report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their target price on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.50.

FormFactor Trading Down 12.1 %

The company has a quick ratio of 3.83, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.96 billion, a P/E ratio of 28.37 and a beta of 1.08. The business has a 50-day moving average price of $34.54 and a two-hundred day moving average price of $40.27.

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

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 518,531 shares of the company’s stock, valued at $20,212,338.38. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of FormFactor in the 4th quarter valued at approximately $27,000. Quarry LP raised its holdings in FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 523 shares during the period. Pinpoint Asset Management Ltd bought a new position in shares of FormFactor during the fourth quarter worth $43,000. Manchester Capital Management LLC grew its holdings in shares of FormFactor by 63.8% in the 4th quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 440 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of FormFactor by 256.3% in the 1st quarter. Versant Capital Management Inc now owns 1,197 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 861 shares during the period. 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.