FormFactor, Inc. (NASDAQ:FORM – Get Rating) shares hit a new 52-week low during trading on Thursday after Needham & Company LLC lowered their price target on the stock from $35.00 to $28.00. The stock traded as low as $20.53 and last traded at $21.60, with a volume of 65138 shares traded. The stock had previously closed at $27.14.
FORM has been the topic of a number of other reports. B. Riley decreased their price objective on shares of FormFactor from $40.00 to $30.00 in a research note on Thursday. TheStreet cut shares of FormFactor from a “b-” rating to a “c+” rating in a research note on Thursday, September 22nd. Craig Hallum decreased their target price on shares of FormFactor from $50.00 to $40.00 in a research note on Thursday, July 28th. Stifel Nicolaus cut shares of FormFactor from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Thursday. Finally, DA Davidson decreased their target price on shares of FormFactor from $40.00 to $32.00 in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, FormFactor currently has a consensus rating of “Moderate Buy” and an average price target of $35.29.
Hedge Funds Weigh In On FormFactor
Hedge funds have recently modified their holdings of the business. Profund Advisors LLC lifted its holdings in shares of FormFactor by 4.6% during the first quarter. Profund Advisors LLC now owns 8,107 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 353 shares during the period. Advisor Group Holdings Inc. lifted its holdings in FormFactor by 9.7% in the first quarter. Advisor Group Holdings Inc. now owns 21,699 shares of the semiconductor company’s stock valued at $912,000 after buying an additional 1,921 shares during the period. Swiss National Bank lifted its holdings in FormFactor by 8.3% in the first quarter. Swiss National Bank now owns 184,900 shares of the semiconductor company’s stock valued at $7,771,000 after buying an additional 14,200 shares during the period. Mutual of America Capital Management LLC lifted its holdings in FormFactor by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 11,269 shares of the semiconductor company’s stock valued at $474,000 after buying an additional 584 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in FormFactor by 4.8% in the first quarter. New York State Common Retirement Fund now owns 1,410,056 shares of the semiconductor company’s stock valued at $59,265,000 after buying an additional 65,116 shares during the period. Institutional investors and hedge funds own 95.84% of the company’s stock.
FormFactor Trading Down 20.7 %
The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 15.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.37 and a quick ratio of 2.47. The firm’s fifty day moving average is $27.94 and its 200-day moving average is $34.19.
FormFactor (NASDAQ:FORM – Get Rating) last released its earnings results on Wednesday, July 27th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. FormFactor had a net margin of 13.38% and a return on equity of 14.43%. The business had revenue of $203.90 million for the quarter, compared to analyst estimates of $203.14 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. FormFactor’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that FormFactor, Inc. will post 1.2 earnings per share for the current year.
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. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems 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.