FormFactor (NASDAQ:FORM) Sets New 52-Week Low – What’s Next?

FormFactor, Inc. (NASDAQ:FORM)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $29.76 and last traded at $30.10, with a volume of 96485 shares changing hands. The stock had previously closed at $30.49.

Analyst Upgrades and Downgrades

FORM has been the subject of a number of recent analyst reports. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Stifel Nicolaus dropped their price objective on FormFactor from $48.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Evercore ISI decreased their target price 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. B. Riley cut shares of FormFactor from a “buy” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $34.00 in a report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of FormFactor 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.50.

FormFactor Stock Down 3.1 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61. The firm has a market capitalization of $2.29 billion, a P/E ratio of 33.15 and a beta of 1.07. The business’s fifty day moving average price is $36.01 and its two-hundred day moving average price is $40.76.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data 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 net margin of 9.12% and a return on equity of 5.93%. Equities analysts expect that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.98, for a total value of $155,920.00. Following the transaction, the chief executive officer now directly owns 518,531 shares of the company’s stock, valued at $20,212,338.38. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Several large investors have recently added to or reduced their stakes in FORM. Alliancebernstein L.P. raised its stake in shares of FormFactor by 127.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,114,779 shares of the semiconductor company’s stock worth $137,050,000 after purchasing an additional 1,742,493 shares during the last quarter. Earnest Partners LLC raised its position in FormFactor by 10.9% during the 4th quarter. Earnest Partners LLC now owns 6,037,082 shares of the semiconductor company’s stock worth $265,632,000 after buying an additional 594,426 shares during the last quarter. Bank of America Corp DE lifted its stake in FormFactor by 29.9% during the 4th quarter. Bank of America Corp DE now owns 2,542,296 shares of the semiconductor company’s stock valued at $111,861,000 after acquiring an additional 585,117 shares during the period. Ameriprise Financial Inc. lifted its stake in FormFactor by 138.2% during the 4th quarter. Ameriprise Financial Inc. now owns 981,926 shares of the semiconductor company’s stock valued at $43,205,000 after acquiring an additional 569,677 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of FormFactor by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,581,258 shares of the semiconductor company’s stock valued at $465,575,000 after acquiring an additional 484,176 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.