FormFactor (NASDAQ:FORM) Reaches New 1-Year Low – Should You Sell?

FormFactor, Inc. (NASDAQ:FORM) shares hit a new 52-week low on Thursday . The stock traded as low as $25.66 and last traded at $25.89, with a volume of 236172 shares. The stock had previously closed at $28.73.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a report on Thursday, February 6th. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $51.00 in a research note on Monday, January 6th. Stifel Nicolaus decreased their target price on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. B. Riley cut FormFactor from a “buy” rating to a “neutral” rating and dropped their price target for the company from $64.00 to $34.00 in a research report on Thursday, February 6th. Finally, Evercore ISI decreased their price objective on shares of FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $48.50.

FormFactor Stock Down 4.3 %

The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 27.16 and a beta of 1.08. The company has a current ratio of 4.61, a quick ratio of 3.83 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $33.84 and its two-hundred day moving average is $40.04.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. On average, sell-side analysts predict that FormFactor, Inc. will post 0.9 EPS for the current year.

Insider Activity

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $28.24, for a total transaction of $112,960.00. Following the completion of the transaction, the chief executive officer now owns 514,650 shares of the company’s stock, valued at $14,533,716. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of FormFactor by 1,255.5% during the 3rd quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock valued at $5,356,000 after buying an additional 107,837 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in FormFactor by 14.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company’s stock valued at $362,000 after acquiring an additional 972 shares during the period. Barclays PLC increased its stake in FormFactor by 351.9% during the third quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock worth $6,692,000 after acquiring an additional 113,296 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of FormFactor by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock worth $95,105,000 after purchasing an additional 73,982 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of FormFactor by 5.1% in the 3rd quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company’s stock valued at $18,940,000 after purchasing an additional 18,810 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

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 in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.