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

FormFactor, Inc. (NASDAQ:FORM)’s stock price traded down 7.7% during mid-day trading 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 Upgrades and Downgrades

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

FormFactor Price Performance

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 stock has a market cap of $3.42 billion, a PE ratio of 25.41 and a beta of 1.08. The business has a 50-day moving average price of $42.43 and a 200 day moving average price of $46.90.

Insider Activity at FormFactor

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

Institutional Trading of FormFactor

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

About FormFactor

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.