FormFactor (NASDAQ:FORM) Stock Price Down 5.9% – Here’s What Happened

FormFactor, Inc. (NASDAQ:FORM) traded down 5.9% during mid-day trading on Friday . The company traded as low as $76.12 and last traded at $76.2210. 550,915 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,392,421 shares. The stock had previously closed at $81.00.

Wall Street Analyst Weigh In

FORM has been the subject of a number of research reports. Evercore ISI boosted their price objective on FormFactor from $31.00 to $50.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. DA Davidson set a $55.00 price target on shares of FormFactor in a research note on Thursday, October 30th. Cantor Fitzgerald assumed coverage on shares of FormFactor in a research report on Tuesday, November 18th. They set an “overweight” rating and a $75.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of FormFactor from $42.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, January 14th. Finally, Northland Securities set a $44.00 target price on shares of FormFactor in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.13.

FormFactor Stock Down 9.6%

The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 140.77 and a beta of 1.12. The company has a current ratio of 4.30, a quick ratio of 3.46 and a debt-to-equity ratio of 0.01. The firm’s 50 day simple moving average is $60.58 and its 200-day simple moving average is $45.12.

Insider Transactions at FormFactor

In other FormFactor news, Director Kelley Steven-Waiss sold 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $55.97, for a total transaction of $151,119.00. Following the transaction, the director owned 32,779 shares in the company, valued at approximately $1,834,640.63. The trade was a 7.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mike Slessor sold 39,606 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $65.00, for a total value of $2,574,390.00. Following the transaction, the chief executive officer directly owned 485,995 shares of the company’s stock, valued at approximately $31,589,675. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 73,466 shares of company stock worth $4,683,377 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FORM. State of New Jersey Common Pension Fund D grew its position in shares of FormFactor by 9.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 61,190 shares of the semiconductor company’s stock valued at $2,106,000 after purchasing an additional 5,295 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in FormFactor in the 2nd quarter valued at approximately $583,000. Bessemer Group Inc. lifted its stake in FormFactor by 25.0% in the 2nd quarter. Bessemer Group Inc. now owns 431,321 shares of the semiconductor company’s stock valued at $14,841,000 after buying an additional 86,277 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in FormFactor during the 2nd quarter valued at $4,715,000. Finally, Reinhart Partners LLC. increased its position in FormFactor by 26.3% during the third quarter. Reinhart Partners LLC. now owns 2,404,854 shares of the semiconductor company’s stock worth $87,585,000 after buying an additional 500,156 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

About FormFactor

FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.