FormFactor (NASDAQ:FORM) Stock Price Down 6.2% – Should You Sell?

FormFactor, Inc. (NASDAQ:FORM) fell 6.2% during trading on Tuesday . The stock traded as low as $45.57 and last traded at $45.72. 620,461 shares traded hands during trading, an increase of 9% from the average session volume of 568,461 shares. The stock had previously closed at $48.72.

Wall Street Analysts Forecast Growth

FORM has been the topic of a number of analyst reports. TD Cowen raised their price objective on shares of FormFactor from $48.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. DA Davidson upped their price objective on FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their price objective on FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of FormFactor in a research note on Thursday, August 1st. Finally, B. Riley increased their price target on shares of FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.63.

FormFactor Stock Performance

The company has a market cap of $3.41 billion, a PE ratio of 33.45 and a beta of 1.11. The stock has a 50 day simple moving average of $46.01 and a two-hundred day simple moving average of $50.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. The firm had revenue of $197.47 million during the quarter, compared to the consensus estimate of $195.01 million. Equities analysts predict that FormFactor, Inc. will post 0.74 EPS for the current year.

Insider Activity at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.93, for a total transaction of $203,720.00. Following the completion of the sale, the chief executive officer now directly owns 523,187 shares of the company’s stock, valued at approximately $26,645,913.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total value of $283,933.80. Following the sale, the director now owns 12,970 shares of the company’s stock, valued at $543,961.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.93, for a total transaction of $203,720.00. Following the transaction, the chief executive officer now directly owns 523,187 shares of the company’s stock, valued at $26,645,913.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,770 shares of company stock worth $854,014 in the last quarter. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several institutional investors and hedge funds have recently added to or reduced their stakes in FORM. Riverview Trust Co purchased a new stake in shares of FormFactor in the first quarter valued at approximately $28,000. Innealta Capital LLC purchased a new stake in shares of FormFactor during the 2nd quarter worth $38,000. Redwood Wealth Management Group LLC acquired a new position in shares of FormFactor during the 2nd quarter worth $43,000. LRI Investments LLC purchased a new position in shares of FormFactor in the 1st quarter valued at about $70,000. Finally, Covestor Ltd increased its holdings in shares of FormFactor by 3,951.3% in the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 1,541 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.