ValuEngine Downgrades FormFactor (FORM) to Hold

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ValuEngine cut shares of FormFactor (NASDAQ:FORM) from a buy rating to a hold rating in a research note published on Wednesday.

FORM has been the topic of a number of other reports. B. Riley dropped their price target on shares of FormFactor from $19.00 to $18.00 and set a buy rating on the stock in a research note on Monday, July 30th. BidaskClub upgraded shares of FormFactor from a sell rating to a hold rating in a research note on Friday, October 19th. Zacks Investment Research upgraded shares of FormFactor from a sell rating to a hold rating in a research note on Tuesday, August 7th. Finally, TheStreet upgraded shares of FormFactor from a c+ rating to a b rating in a research note on Thursday, August 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $17.38.

NASDAQ FORM opened at $14.56 on Wednesday. The company has a current ratio of 3.13, a quick ratio of 2.35 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.67 and a beta of 1.59. FormFactor has a one year low of $11.10 and a one year high of $17.70.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $135.00 million for the quarter, compared to analyst estimates of $133.13 million. FormFactor had a net margin of 4.71% and a return on equity of 11.42%. FormFactor’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. Equities analysts anticipate that FormFactor will post 0.75 earnings per share for the current year.

In other news, Director Michael W. Zellner sold 11,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $13.49, for a total transaction of $148,390.00. Following the transaction, the director now directly owns 41,875 shares in the company, valued at $564,893.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Delateur sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $14.07, for a total transaction of $84,420.00. Following the transaction, the director now owns 13,000 shares in the company, valued at $182,910. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in FormFactor by 602.1% during the first quarter. JPMorgan Chase & Co. now owns 167,091 shares of the semiconductor company’s stock worth $2,281,000 after buying an additional 143,291 shares during the period. Guggenheim Capital LLC acquired a new position in FormFactor during the first quarter worth about $2,776,000. Legal & General Group Plc grew its position in FormFactor by 637.0% during the first quarter. Legal & General Group Plc now owns 135,072 shares of the semiconductor company’s stock worth $1,834,000 after buying an additional 116,745 shares during the period. Xact Kapitalforvaltning AB acquired a new position in FormFactor during the first quarter worth about $171,000. Finally, Principal Financial Group Inc. grew its position in FormFactor by 1,172.4% during the first quarter. Principal Financial Group Inc. now owns 600,047 shares of the semiconductor company’s stock worth $8,191,000 after buying an additional 552,888 shares during the period. Institutional investors and hedge funds own 93.37% of the company’s stock.

FormFactor Company Profile

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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