FormFactor (NASDAQ:FORM) Reaches New 52-Week Low Following Weak Earnings

FormFactor, Inc. (NASDAQ:FORM)’s stock price reached a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $32.71 and last traded at $37.70, with a volume of 1298945 shares traded. The stock had previously closed at $41.12.

The semiconductor company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a return on equity of 5.38% and a net margin of 18.29%.

Analyst Ratings Changes

A number of brokerages have weighed in on FORM. Needham & Company LLC restated a “hold” rating on shares of FormFactor in a research report on Thursday. B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $64.00 to $34.00 in a report on Thursday. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Stifel Nicolaus reduced their price target on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Evercore ISI dropped their price objective on shares of FormFactor from $50.00 to $43.00 and set an “in-line” rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, FormFactor has an average rating of “Hold” and an average target price of $48.50.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $40.59, for a total value of $162,360.00. Following the completion of the transaction, the chief executive officer now directly owns 526,531 shares of the company’s stock, valued at approximately $21,371,893.29. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 12,000 shares of company stock worth $496,040 over the last ninety days. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Several large investors have recently added to or reduced their stakes in FORM. D.A. Davidson & CO. boosted its holdings in shares of FormFactor by 5.5% during the 4th quarter. D.A. Davidson & CO. now owns 5,510 shares of the semiconductor company’s stock worth $242,000 after buying an additional 288 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of FormFactor by 99.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 309 shares during the period. Glenmede Trust Co. NA boosted its stake in FormFactor by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 5,995 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 415 shares in the last quarter. Manchester Capital Management LLC grew its holdings in FormFactor by 63.8% in the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 440 shares during the period. Finally, Quarry LP grew its holdings in FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 523 shares during the period. Institutional investors and hedge funds own 98.76% of the company’s stock.

FormFactor Trading Down 6.5 %

The firm’s 50 day simple moving average is $42.89 and its two-hundred day simple moving average is $44.14. The stock has a market capitalization of $2.78 billion, a P/E ratio of 20.60 and a beta of 1.07. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01.

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.