FormFactor (NASDAQ:FORM) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of FormFactor (NASDAQ:FORM) from a strong-buy rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

FORM has been the subject of several other research reports. TD Cowen boosted their price objective on shares of FormFactor from $100.00 to $110.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of FormFactor in a research report on Tuesday, September 22nd. Zacks Research cut FormFactor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. B. Riley Financial dropped their target price on FormFactor from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, November 9th. Finally, Weiss Ratings raised FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.25.

FormFactor Price Performance

FORM traded down $4.79 during midday trading on Friday, hitting $87.53. The company had a trading volume of 1,296,038 shares, compared to its average volume of 1,705,185. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.02 and a current ratio of 3.68. The company has a market capitalization of $6.85 billion, a PE ratio of 39.97 and a beta of 1.27. FormFactor has a twelve month low of $47.33 and a twelve month high of $160.27. The firm’s 50-day simple moving average is $112.83 and its 200-day simple moving average is $113.96.

FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, October 28th. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. FormFactor had a net margin of 17.72% and a return on equity of 18.40%. The company had revenue of $280.55 million during the quarter, compared to the consensus estimate of $270.52 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was up 38.4% on a year-over-year basis. Equities research analysts predict that FormFactor will post 2.96 EPS for the current fiscal year.

Insider Buying and Selling at FormFactor

In other FormFactor news, CEO Mike Slessor sold 11,098 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $125.20, for a total transaction of $1,389,469.60. Following the completion of the sale, the chief executive officer owned 455,596 shares in the company, valued at approximately $57,040,619.20. The trade was a 2.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kelley Steven-Waiss sold 2,100 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $96.10, for a total value of $201,810.00. Following the completion of the transaction, the director directly owned 24,426 shares in the company, valued at approximately $2,347,338.60. This trade represents a 7.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,708 shares of company stock valued at $3,425,102 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several hedge funds have recently added to or reduced their stakes in FORM. Caxton Associates LLP boosted its holdings in FormFactor by 78.1% during the third quarter. Caxton Associates LLP now owns 2,627 shares of the semiconductor company’s stock worth $392,000 after buying an additional 1,152 shares during the last quarter. Cvfg LLC bought a new stake in shares of FormFactor in the 3rd quarter valued at about $1,570,000. Meeder Advisory Services Inc. increased its stake in shares of FormFactor by 8.8% in the 3rd quarter. Meeder Advisory Services Inc. now owns 3,547 shares of the semiconductor company’s stock valued at $530,000 after acquiring an additional 288 shares during the last quarter. First Trust Advisors LP raised its position in shares of FormFactor by 109.5% in the 3rd quarter. First Trust Advisors LP now owns 342,928 shares of the semiconductor company’s stock valued at $51,203,000 after acquiring an additional 179,222 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in shares of FormFactor in the 3rd quarter valued at approximately $383,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

FormFactor Company Profile

FormFactor, Inc. designs and manufactures testing and measurement products used in the development and production of semiconductor devices. Its offerings include probe cards, which connect test equipment to semiconductor wafers, as well as probe stations and related systems for electrical and thermal characterization. The company’s products support testing at multiple stages of semiconductor development and manufacturing, including work on advanced integrated circuits and other complex devices. FormFactor serves customers around the world, including semiconductor manufacturers and research organizations.