BidaskClub Downgrades FormFactor (FORM) to Buy

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FormFactor (NASDAQ:FORM) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Other equities analysts have also issued reports about the stock. TheStreet raised shares of FormFactor from a “c+” rating to a “b” rating in a report on Thursday, August 2nd. B. Riley cut their price target on shares of FormFactor from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, July 30th. Zacks Investment Research raised shares of FormFactor from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, ValuEngine raised shares of FormFactor from a “sell” rating to a “hold” rating in a report on Friday, May 11th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. FormFactor presently has a consensus rating of “Buy” and an average price target of $17.38.

Shares of FORM stock opened at $14.80 on Thursday. The company has a market cap of $1.14 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.25 and a current ratio of 2.94. FormFactor has a 52-week low of $11.10 and a 52-week high of $18.65.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, August 1st. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. FormFactor had a net margin of 5.55% and a return on equity of 12.77%. The business had revenue of $135.51 million for the quarter, compared to analyst estimates of $134.87 million. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. sell-side analysts anticipate that FormFactor will post 0.73 earnings per share for the current fiscal year.

In other FormFactor news, Director Richard Delateur sold 6,000 shares of FormFactor stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $14.07, for a total value of $84,420.00. Following the transaction, the director now directly owns 13,000 shares of the company’s stock, valued at $182,910. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of FormFactor during the first quarter valued at $113,000. Meadow Creek Investment Management LLC purchased a new stake in shares of FormFactor during the first quarter valued at $117,000. NumerixS Investment Technologies Inc grew its holdings in shares of FormFactor by 405.6% during the second quarter. NumerixS Investment Technologies Inc now owns 9,100 shares of the semiconductor company’s stock valued at $119,000 after buying an additional 7,300 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of FormFactor during the first quarter valued at $140,000. Finally, Amalgamated Bank purchased a new stake in shares of FormFactor during the first quarter valued at $141,000. 93.58% of the stock is currently owned by institutional investors and hedge funds.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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