FormFactor (NASDAQ:FORM) Rating Lowered to “Neutral” at B. Riley

FormFactor (NASDAQ:FORM) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have a $34.00 price target on the semiconductor company’s stock, down from their prior price target of $64.00. B. Riley’s target price would indicate a potential downside of 5.13% from the company’s previous close.

A number of other brokerages have also recently commented on FORM. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Needham & Company LLC cut shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, TD Cowen dropped their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, FormFactor has a consensus rating of “Hold” and a consensus price target of $48.50.

FormFactor Price Performance

Shares of NASDAQ:FORM opened at $35.84 on Thursday. FormFactor has a twelve month low of $32.71 and a twelve month high of $63.63. The company’s 50 day moving average is $42.89 and its 200 day moving average is $44.14. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.78 billion, a PE ratio of 20.60 and a beta of 1.07.

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 forecast that FormFactor will post 0.75 EPS for the current year.

Insider Activity

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’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 owns 518,531 shares in the company, valued at approximately $20,212,338.38. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 12,000 shares of company stock worth $496,040 in the last quarter. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in FormFactor by 5.5% in the 4th 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. lifted 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 purchasing an additional 309 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in FormFactor by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 415 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in 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 purchasing an additional 440 shares in the last quarter. Finally, Quarry LP lifted its holdings in FormFactor by 131.7% in the 3rd quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 523 shares in 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.