ValuEngine Downgrades FormFactor (FORM) to Hold

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ValuEngine cut shares of FormFactor (NASDAQ:FORM) from a buy rating to a hold rating in a research note published on Wednesday morning.

Other research analysts have also issued reports about the company. TheStreet upgraded FormFactor from a c+ rating to a b rating in a research report on Thursday, August 2nd. B. Riley reduced their price target on FormFactor from $19.00 to $18.00 and set a buy rating on the stock in a research report on Monday, July 30th. BidaskClub lowered FormFactor from a strong-buy rating to a buy rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research upgraded FormFactor from a sell rating to a hold rating in a research report on Tuesday, August 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $17.38.

FORM traded down $0.40 during mid-day trading on Wednesday, reaching $14.56. The stock had a trading volume of 589,174 shares, compared to its average volume of 639,469. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.67 and a beta of 1.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.35 and a current ratio of 3.13. FormFactor has a 52 week low of $11.10 and a 52 week high of $17.70.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. FormFactor had a return on equity of 11.42% and a net margin of 4.71%. The firm had revenue of $135.00 million for the quarter, compared to analyst estimates of $133.13 million. During the same period last year, the company earned $0.34 EPS. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, research analysts forecast that FormFactor will post 0.75 EPS for the current year.

In related news, Director Richard Delateur sold 6,000 shares of FormFactor stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $14.07, for a total value of $84,420.00. Following the sale, the director now owns 13,000 shares of the company’s stock, valued at $182,910. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael W. Zellner sold 11,000 shares of FormFactor stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $13.49, for a total value of $148,390.00. Following the completion of the sale, the director now directly owns 41,875 shares in the company, valued at approximately $564,893.75. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FORM. JPMorgan Chase & Co. increased its position in shares of FormFactor by 602.1% in the first quarter. JPMorgan Chase & Co. now owns 167,091 shares of the semiconductor company’s stock valued at $2,281,000 after acquiring an additional 143,291 shares during the last quarter. Guggenheim Capital LLC bought a new position in FormFactor during the first quarter worth about $2,776,000. Legal & General Group Plc grew its holdings in FormFactor by 637.0% during the first quarter. Legal & General Group Plc now owns 135,072 shares of the semiconductor company’s stock worth $1,834,000 after purchasing an additional 116,745 shares during the period. Xact Kapitalforvaltning AB bought a new position in FormFactor during the first quarter worth about $171,000. Finally, Principal Financial Group Inc. grew its holdings in FormFactor by 1,172.4% during the first quarter. Principal Financial Group Inc. now owns 600,047 shares of the semiconductor company’s stock worth $8,191,000 after purchasing an additional 552,888 shares during the period. 93.37% of the stock is currently owned by institutional investors and hedge funds.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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