FormFactor (NASDAQ:FORM) Shares Gap Down – Here’s What Happened

FormFactor, Inc. (NASDAQ:FORM) shares gapped down prior to trading on Monday . The stock had previously closed at $44.22, but opened at $42.00. FormFactor shares last traded at $42.74, with a volume of 96,712 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FORM shares. TD Cowen lowered their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Needham & Company LLC downgraded FormFactor from a “buy” rating to a “hold” rating in a report on Monday. Finally, Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $51.00 in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.00.

FormFactor Trading Down 4.3 %

The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $42.54 and a two-hundred day moving average of $46.62. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 24.33 and a beta of 1.08.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total transaction of $177,760.00. Following the completion of the sale, the chief executive officer now directly owns 522,531 shares of the company’s stock, valued at $23,221,277.64. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Several hedge funds have recently modified their holdings of FORM. Wealth Enhancement Advisory Services LLC raised its position in FormFactor by 14.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company’s stock worth $362,000 after acquiring an additional 972 shares in the last quarter. Franklin Resources Inc. raised its position in FormFactor by 5.1% in the third quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company’s stock worth $18,940,000 after acquiring an additional 18,810 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in FormFactor by 7.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 47,821 shares of the semiconductor company’s stock worth $2,200,000 after acquiring an additional 3,426 shares in the last quarter. Geode Capital Management LLC raised its position in FormFactor by 3.7% in the third quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock worth $95,105,000 after acquiring an additional 73,982 shares in the last quarter. Finally, Barclays PLC raised its position in FormFactor by 351.9% in 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 in the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

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.