FormFactor (FORM) Shares Down 8.7%

Shares of FormFactor, Inc. (NASDAQ:FORM) dropped 8.7% during mid-day trading on Wednesday . The stock traded as low as $14.75 and last traded at $15.20. Approximately 2,243,101 shares traded hands during mid-day trading, an increase of 245% from the average daily volume of 650,600 shares. The stock had previously closed at $16.65.

FORM has been the topic of several recent analyst reports. Needham & Company LLC raised FormFactor from a “buy” rating to a “strong-buy” rating and raised their target price for the stock from $20.00 to $22.00 in a research note on Thursday, December 14th. Citigroup raised their target price on FormFactor from $16.00 to $17.40 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Finally, B. Riley raised their target price on FormFactor from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. FormFactor has a consensus rating of “Buy” and an average target price of $18.63.

The company has a debt-to-equity ratio of 0.20, a current ratio of 3.16 and a quick ratio of 2.45. The company has a market cap of $1,210.00, a P/E ratio of 58.46, a PEG ratio of 0.87 and a beta of 1.46.

FormFactor (NASDAQ:FORM) last posted its earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The company had revenue of $143.74 million for the quarter, compared to analysts’ expectations of $140.83 million. FormFactor had a return on equity of 16.80% and a net margin of 3.68%. FormFactor’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. sell-side analysts expect that FormFactor, Inc. will post 1.04 EPS for the current fiscal year.

In other FormFactor news, Director Richard Delateur sold 15,000 shares of FormFactor stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $17.69, for a total transaction of $265,350.00. Following the sale, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $442,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Ludwig sold 16,845 shares of FormFactor stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $17.50, for a total value of $294,787.50. Following the sale, the chief financial officer now directly owns 241,132 shares in the company, valued at $4,219,810. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its position in FormFactor by 6.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 334,956 shares of the semiconductor company’s stock valued at $4,154,000 after acquiring an additional 20,777 shares in the last quarter. Algert Global LLC boosted its position in FormFactor by 26.7% during the 3rd quarter. Algert Global LLC now owns 199,305 shares of the semiconductor company’s stock valued at $3,358,000 after acquiring an additional 42,022 shares in the last quarter. State of Wisconsin Investment Board boosted its position in FormFactor by 4.3% during the 3rd quarter. State of Wisconsin Investment Board now owns 600,000 shares of the semiconductor company’s stock valued at $10,110,000 after acquiring an additional 25,000 shares in the last quarter. Vanguard Group Inc. boosted its position in FormFactor by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 5,971,401 shares of the semiconductor company’s stock valued at $74,045,000 after acquiring an additional 253,323 shares in the last quarter. Finally, Comerica Bank bought a new stake in FormFactor during the 2nd quarter valued at approximately $1,010,000. 84.56% of the stock is currently owned by institutional investors and hedge funds.

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FormFactor Company Profile

FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.

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