FormFactor (NASDAQ:FORM) Shares Down 7.7% – What’s Next?

FormFactor, Inc. (NASDAQ:FORM) fell 7.7% on Wednesday . The stock traded as low as $42.19 and last traded at $43.58. 373,653 shares changed hands during trading, a decline of 52% from the average session volume of 771,262 shares. The stock had previously closed at $47.24.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $51.00 in a research report on Monday. TD Cowen decreased their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Finally, Needham & Company LLC dropped their price objective on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, FormFactor has an average rating of “Moderate Buy” and a consensus price target of $56.00.

FormFactor Stock Down 6.9 %

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 50-day simple moving average of $42.30 and a 200 day simple moving average of $46.94. The company has a market cap of $3.41 billion, a P/E ratio of 25.28 and a beta of 1.08.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the 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 transaction, the chief executive officer now owns 522,531 shares of the company’s stock, valued at $23,221,277.64. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Several hedge funds have recently made changes to their positions in FORM. State Street Corp raised its holdings in shares of FormFactor by 1.4% in the third quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock valued at $134,019,000 after acquiring an additional 39,784 shares in the last quarter. Geode Capital Management LLC increased its position in FormFactor by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock valued at $95,105,000 after purchasing an additional 73,982 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of FormFactor by 8.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company’s stock valued at $48,928,000 after purchasing an additional 79,191 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of FormFactor by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 886,103 shares of the semiconductor company’s stock valued at $40,761,000 after purchasing an additional 32,889 shares in the last quarter. Finally, Needham Investment Management LLC lifted its position in shares of FormFactor by 8.6% in the 3rd quarter. Needham Investment Management LLC now owns 620,000 shares of the semiconductor company’s stock worth $28,520,000 after purchasing an additional 49,000 shares during the period. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

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.