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

FormFactor, Inc. (NASDAQ:FORM) shares hit a new 52-week low on Friday . The company traded as low as $32.46 and last traded at $33.40, with a volume of 105346 shares. The stock had previously closed at $32.96.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of FormFactor in a research note on Thursday, February 6th. Stifel Nicolaus dropped their price target on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and lowered their target price for the company from $64.00 to $34.00 in a research note on Thursday, February 6th. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $51.00 in a research note on Monday, January 6th. Finally, 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 note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $48.50.

FormFactor Trading Up 1.0 %

The firm has a market cap of $2.58 billion, a P/E ratio of 37.42 and a beta of 1.07. The company has a 50 day moving average of $40.97 and a 200 day moving average of $42.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results 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%. Analysts predict that FormFactor, Inc. will post 0.9 EPS for the current fiscal year.

Insider Activity at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total value of $177,760.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 12,000 shares of company stock valued at $496,040. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in FormFactor in the 4th quarter worth approximately $27,000. 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 worth $29,000 after purchasing an additional 309 shares during the last quarter. 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 worth $42,000 after purchasing an additional 523 shares during the last quarter. Pinpoint Asset Management Ltd acquired a new stake in FormFactor in the 4th quarter worth approximately $43,000. Finally, 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 worth $50,000 after purchasing an additional 440 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

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.