FormFactor (NASDAQ:FORM) Shares Down 5.9% – Here’s What Happened

FormFactor, Inc. (NASDAQ:FORM)’s stock price traded down 5.9% on Friday . The company traded as low as $76.12 and last traded at $76.2210. 550,915 shares were traded during trading, a decline of 60% from the average session volume of 1,392,421 shares. The stock had previously closed at $81.00.

Wall Street Analyst Weigh In

FORM has been the subject of a number of recent research reports. Evercore ISI boosted their price target on shares of FormFactor from $31.00 to $50.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. TD Cowen reissued a “hold” rating on shares of FormFactor in a research report on Thursday, October 30th. Zacks Research upgraded shares of FormFactor from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. Citigroup raised their price target on shares of FormFactor from $62.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald began coverage on FormFactor in a report on Tuesday, November 18th. They set an “overweight” rating and a $75.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, FormFactor has a consensus rating of “Moderate Buy” and a consensus target price of $64.13.

FormFactor Stock Performance

The stock has a market cap of $5.70 billion, a P/E ratio of 141.43 and a beta of 1.12. The company has a current ratio of 4.30, a quick ratio of 3.46 and a debt-to-equity ratio of 0.01. The company’s 50-day simple moving average is $60.12 and its 200 day simple moving average is $44.79.

Insider Buying and Selling at FormFactor

In other FormFactor news, Director Kelley Steven-Waiss sold 2,700 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $55.97, for a total value of $151,119.00. Following the completion of the transaction, the director owned 32,779 shares in the company, valued at $1,834,640.63. This represents a 7.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Thomas St sold 2,000 shares of FormFactor stock in a transaction on Monday, November 17th. The stock was sold at an average price of $49.85, for a total value of $99,700.00. Following the sale, the director owned 38,957 shares in the company, valued at $1,942,006.45. The trade was a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 73,466 shares of company stock worth $4,683,377 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FormFactor

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in FormFactor by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,072 shares of the semiconductor company’s stock valued at $1,303,000 after purchasing an additional 2,001 shares during the period. Jones Financial Companies Lllp grew its stake in shares of FormFactor by 870.3% during the 1st quarter. Jones Financial Companies Lllp now owns 5,288 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 4,743 shares during the period. Goldman Sachs Group Inc. raised its stake in FormFactor by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 490,394 shares of the semiconductor company’s stock valued at $13,873,000 after acquiring an additional 53,310 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in FormFactor by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,979 shares of the semiconductor company’s stock valued at $4,922,000 after purchasing an additional 9,394 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in FormFactor by 18.1% during the first quarter. Intech Investment Management LLC now owns 53,531 shares of the semiconductor company’s stock worth $1,514,000 after purchasing an additional 8,194 shares during the period. Institutional investors own 98.76% of the company’s stock.

FormFactor Company Profile

FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.