FormFactor (NASDAQ:FORM) Cut to “Hold” at Needham & Company LLC

Needham & Company LLC lowered shares of FormFactor (NASDAQ:FORM) from a buy rating to a hold rating in a research note released on Monday, Marketbeat.com reports.

A number of other equities research analysts have also issued reports on FORM. TD Cowen cut their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, FormFactor presently has an average rating of “Hold” and an average price target of $56.00.

FormFactor Stock Performance

NASDAQ:FORM opened at $43.19 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76. FormFactor has a fifty-two week low of $37.25 and a fifty-two week high of $63.63. The firm has a market cap of $3.35 billion, a PE ratio of 24.82 and a beta of 1.08. The business has a 50 day moving average price of $42.70 and a 200-day moving average price of $46.38.

Insider Activity

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the completion of the transaction, the chief executive officer now owns 522,531 shares of the company’s stock, valued at approximately $23,221,277.64. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Algert Global LLC grew its holdings in FormFactor by 134.4% in the third quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company’s stock worth $2,440,000 after purchasing an additional 30,410 shares during the period. FMR LLC boosted its position in shares of FormFactor by 1,255.5% in the 3rd quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock worth $5,356,000 after purchasing an additional 107,837 shares in the last quarter. Citigroup Inc. grew its stake in shares of FormFactor by 59.4% in the 3rd quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company’s stock worth $4,867,000 after buying an additional 39,419 shares during the last quarter. Intech Investment Management LLC bought a new position in FormFactor during the 3rd quarter valued at approximately $818,000. Finally, Barclays PLC raised its stake in FormFactor by 351.9% during the third quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after buying an additional 113,296 shares during the last quarter. 98.76% of the stock is currently owned by 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.