Zacks Investment Research cut shares of FormFactor (NASDAQ:FORM) from a hold rating to a sell rating in a research note issued to investors on Monday.

According to Zacks, “FormFactor's Probe Card business remains very strong and is one of the most important revenue contributor. The demand for probe card is being driven by strong adioption of new designs. The strength across foundry & logic and DRAM segments also remains encouraging. In the past 12 months, the stock has outperformed the industry it belongs to. The company has proved agile in dealing with the secular decline in the PC market by increasing focus on the Mobile SoC and Mobile DRAM probe card segments where growth prospects remain very bright. However, nature of the business necessitates long lead times and customer concentration, which should be kept in mind when investing in the shares.”

A number of other brokerages also recently commented on FORM. B. Riley reaffirmed a buy rating and set a $22.00 price objective (up from $20.00) on shares of FormFactor in a research report on Thursday, November 2nd. Citigroup boosted their price objective on shares of FormFactor from $16.00 to $17.40 and gave the company a neutral rating in a research report on Thursday, November 2nd. Finally, Needham & Company LLC reaffirmed a buy rating and set a $18.00 price objective on shares of FormFactor in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $18.34.

Shares of FormFactor (NASDAQ:FORM) traded down $0.50 on Monday, reaching $15.00. 812,100 shares of the company were exchanged, compared to its average volume of 694,157. FormFactor has a 52-week low of $10.45 and a 52-week high of $18.65. The stock has a market capitalization of $1,090.00, a P/E ratio of 57.69, a PEG ratio of 0.83 and a beta of 1.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.16 and a quick ratio of 2.45.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. FormFactor had a net margin of 3.68% and a return on equity of 16.80%. The firm had revenue of $143.74 million for the quarter, compared to the consensus estimate of $140.83 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. equities analysts predict that FormFactor will post 1.04 earnings per share for the current year.

In other FormFactor news, Director Richard Delateur sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $17.69, for a total value of $265,350.00. Following the completion of the sale, the director now directly owns 25,000 shares of the company’s stock, valued at $442,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael M. Ludwig sold 16,845 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $17.50, for a total transaction of $294,787.50. Following the completion of the sale, the chief financial officer now directly owns 241,132 shares of the company’s stock, valued at $4,219,810. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Legal & General Group Plc grew its position in FormFactor by 2.8% in the second quarter. Legal & General Group Plc now owns 17,068 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 469 shares in the last quarter. Virtu KCG Holdings LLC lifted its stake in shares of FormFactor by 5.9% in the second quarter. Virtu KCG Holdings LLC now owns 17,472 shares of the semiconductor company’s stock worth $217,000 after buying an additional 972 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of FormFactor by 7.1% in the second quarter. Voya Investment Management LLC now owns 34,013 shares of the semiconductor company’s stock worth $422,000 after buying an additional 2,252 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of FormFactor by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 56,360 shares of the semiconductor company’s stock worth $699,000 after buying an additional 2,731 shares during the last quarter. Finally, American International Group Inc. lifted its stake in shares of FormFactor by 8.1% in the third quarter. American International Group Inc. now owns 48,276 shares of the semiconductor company’s stock worth $813,000 after buying an additional 3,610 shares during the last quarter. 84.55% of the stock is owned by institutional investors.

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About FormFactor

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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