FormFactor (NASDAQ:FORM) Lowered to Hold Rating by Needham & Company LLC

FormFactor (NASDAQ:FORM) was downgraded by equities research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, MarketBeat.com reports.

Several other research analysts have also recently commented on FORM. TD Cowen decreased their target price on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and increased their price target 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.00.

FormFactor Stock Performance

Shares of FORM opened at $43.14 on Monday. The firm has a fifty day moving average of $42.62 and a 200-day moving average of $46.51. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 24.79 and a beta of 1.08. 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 1 year low of $37.25 and a 1 year high of $63.63.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the transaction, the chief executive officer now directly owns 522,531 shares of the company’s stock, valued at $23,221,277.64. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

A number of institutional investors and hedge funds have recently bought and sold shares of FORM. Advisors Asset Management Inc. raised its holdings in shares of FormFactor by 99.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 309 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in FormFactor in the second quarter worth approximately $43,000. Quarry LP increased its holdings in shares of FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 523 shares in the last quarter. CWM LLC lifted its position in shares of FormFactor by 57.3% during the 3rd quarter. CWM LLC now owns 2,867 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 1,044 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of FormFactor during the 2nd quarter valued at $204,000. 98.76% of the stock is owned by institutional investors and hedge funds.

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.