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

FormFactor (NASDAQ:FORM) was downgraded by research analysts at B. Riley from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat reports. They currently have a $34.00 price objective on the semiconductor company’s stock, down from their prior price objective of $64.00. B. Riley’s price objective would suggest a potential downside of 17.32% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Needham & Company LLC cut shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, TD Cowen dropped their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, FormFactor presently has an average rating of “Hold” and a consensus price target of $51.00.

FormFactor Price Performance

FORM stock opened at $41.12 on Thursday. The stock has a market capitalization of $3.18 billion, a PE ratio of 23.63 and a beta of 1.07. The company’s 50-day moving average is $43.00 and its 200-day moving average is $44.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94. FormFactor has a 1 year low of $37.25 and a 1 year high of $63.63.

FormFactor (NASDAQ:FORM) last announced 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 net margin of 18.29% and a return on equity of 5.38%. Equities research analysts expect that FormFactor will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $44.44, for a total value of $177,760.00. Following the sale, the chief executive officer now owns 522,531 shares of the company’s stock, valued at approximately $23,221,277.64. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 12,000 shares of company stock valued at $496,040 in the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in FormFactor by 1.4% in the 3rd quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock valued at $134,019,000 after buying an additional 39,784 shares in the last quarter. Geode Capital Management LLC grew its stake in FormFactor by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock valued at $95,105,000 after buying an additional 73,982 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in FormFactor by 8.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company’s stock valued at $48,928,000 after buying an additional 79,191 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in FormFactor by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 886,103 shares of the semiconductor company’s stock valued at $40,761,000 after buying an additional 32,889 shares in the last quarter. Finally, Needham Investment Management LLC grew its stake in FormFactor by 8.6% in the 3rd quarter. Needham Investment Management LLC now owns 620,000 shares of the semiconductor company’s stock valued at $28,520,000 after buying an additional 49,000 shares in the last quarter. 98.76% of the stock is currently 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.