FormFactor, Inc. (FORM) Downgraded by BidaskClub
FormFactor, Inc. (NASDAQ:FORM) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
Several other research firms have also issued reports on FORM. ValuEngine raised shares of FormFactor from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Citigroup Inc. reaffirmed a “neutral” rating and issued a $15.00 price target (up from $13.50) on shares of FormFactor in a report on Monday, June 5th. Zacks Investment Research raised shares of FormFactor from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, May 8th. Sidoti reaffirmed a “buy” rating and issued a $18.00 price target (up from $15.00) on shares of FormFactor in a report on Wednesday, June 14th. Finally, B. Riley reaffirmed a “buy” rating and issued a $17.00 price target on shares of FormFactor in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $15.75.
FormFactor (NASDAQ:FORM) traded down 2.46% during trading on Thursday, reaching $11.90. The company had a trading volume of 950,662 shares. The stock has a 50 day moving average of $13.82 and a 200-day moving average of $12.17. The stock has a market capitalization of $858.24 million, a P/E ratio of 65.38 and a beta of 1.60. FormFactor has a 12-month low of $8.53 and a 12-month high of $15.58.
FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, May 3rd. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. FormFactor had a net margin of 2.71% and a return on equity of 11.02%. The business had revenue of $128.80 million for the quarter, compared to analyst estimates of $124.07 million. During the same period in the previous year, the company earned ($0.11) earnings per share. The business’s revenue for the quarter was up 140.3% on a year-over-year basis. On average, analysts forecast that FormFactor will post $1.02 earnings per share for the current fiscal year.
In related news, Director Dennis Thomas St sold 285,333 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $14.61, for a total transaction of $4,168,715.13. Following the completion of the transaction, the director now directly owns 40,666 shares in the company, valued at $594,130.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Delateur sold 80,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $13.80, for a total transaction of $1,104,000.00. Following the transaction, the director now owns 90,000 shares of the company’s stock, valued at $1,242,000. The disclosure for this sale can be found here. Insiders have sold 479,083 shares of company stock valued at $6,853,928 over the last quarter. Insiders own 2.84% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in FormFactor during the fourth quarter worth about $8,524,000. State Street Corp increased its position in FormFactor by 7.9% in the fourth quarter. State Street Corp now owns 1,263,833 shares of the semiconductor company’s stock worth $14,155,000 after buying an additional 92,544 shares in the last quarter. Fisher Asset Management LLC increased its position in FormFactor by 50.7% in the first quarter. Fisher Asset Management LLC now owns 286,532 shares of the semiconductor company’s stock worth $3,395,000 after buying an additional 96,336 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in FormFactor during the first quarter worth about $288,000. Finally, Dimensional Fund Advisors LP increased its position in FormFactor by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,274,906 shares of the semiconductor company’s stock worth $59,079,000 after buying an additional 301,607 shares in the last quarter. Institutional investors own 87.79% of the company’s stock.
FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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