FormFactor (NASDAQ:FORM) Downgraded to “Neutral” Rating by B. Riley

B. Riley lowered shares of FormFactor (NASDAQ:FORM) from a buy rating to a neutral rating in a report issued on Thursday morning, MarketBeat Ratings reports. B. Riley currently has $34.00 target price on the semiconductor company’s stock, down from their previous target price of $64.00.

Several other equities research analysts have also issued reports on FORM. Needham & Company LLC lowered shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. TD Cowen lowered their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Finally, Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $51.00 in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.50.

FormFactor Stock Down 6.8 %

NASDAQ:FORM opened at $38.33 on Thursday. The stock has a 50-day simple moving average of $42.98 and a 200 day simple moving average of $44.30. FormFactor has a 52-week low of $32.71 and a 52-week high of $63.63. The company has a market cap of $2.97 billion, a PE ratio of 22.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings results 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 5.38% and a net margin of 18.29%. On average, sell-side analysts expect that FormFactor will post 0.75 EPS for the current fiscal year.

Insider Transactions at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 12,000 shares of company stock worth $496,040. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On FormFactor

Several large investors have recently modified their holdings of FORM. Advisors Asset Management Inc. grew its stake 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 last quarter. Quarry LP lifted its position in FormFactor by 131.7% during the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 523 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in shares of FormFactor by 63.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 440 shares during the period. IFP Advisors Inc grew 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 valued at $72,000 after purchasing an additional 1,609 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of FormFactor by 146.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,986 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 1,181 shares during the period. 98.76% of the stock is owned by 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.