BidaskClub Downgrades FormFactor, Inc. (FORM) to Sell

FormFactor, Inc. (NASDAQ:FORM) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.

FORM has been the topic of several other research reports. B. Riley restated a “buy” rating and set a $17.00 price objective on shares of FormFactor in a report on Thursday, May 4th. Zacks Investment Research downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of FormFactor in a report on Monday, May 1st. TheStreet upgraded FormFactor from a “c+” rating to a “b-” rating in a research report on Thursday, May 11th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $15.00 target price (up previously from $13.50) on shares of FormFactor in a research report on Monday, June 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. FormFactor currently has a consensus rating of “Buy” and an average target price of $15.75.

Shares of FormFactor (NASDAQ:FORM) opened at 12.25 on Thursday. The firm’s 50-day moving average is $13.82 and its 200-day moving average is $12.17. The company has a market capitalization of $883.48 million, a price-to-earnings ratio of 67.31 and a beta of 1.60. FormFactor has a 1-year low of $8.55 and a 1-year high of $15.58.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. FormFactor had a net margin of 2.71% and a return on equity of 11.02%. The firm had revenue of $128.80 million for the quarter, compared to the consensus estimate of $124.07 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was up 140.3% compared to the same quarter last year. Analysts forecast that FormFactor will post $1.02 earnings per share for the current fiscal year.

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In other FormFactor news, Director Richard Delateur sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $13.80, for a total value of $1,104,000.00. Following the sale, the director now owns 90,000 shares in the company, valued at approximately $1,242,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dennis Thomas St sold 285,333 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $14.61, for a total value of $4,168,715.13. Following the completion of the sale, the director now owns 40,666 shares in the company, valued at approximately $594,130.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 479,083 shares of company stock worth $6,853,928. Insiders own 2.84% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in FormFactor by 4.9% in the first quarter. Bank of Montreal Can now owns 19,378 shares of the semiconductor company’s stock valued at $229,000 after buying an additional 901 shares in the last quarter. KCG Holdings Inc. raised its position in shares of FormFactor by 14.7% in the first quarter. KCG Holdings Inc. now owns 16,500 shares of the semiconductor company’s stock worth $196,000 after buying an additional 2,120 shares during the period. Teachers Advisors LLC raised its position in shares of FormFactor by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 113,009 shares of the semiconductor company’s stock worth $1,266,000 after buying an additional 2,273 shares during the period. American International Group Inc. raised its position in shares of FormFactor by 7.1% in the first quarter. American International Group Inc. now owns 42,338 shares of the semiconductor company’s stock worth $502,000 after buying an additional 2,806 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of FormFactor by 0.3% in the first quarter. Ameriprise Financial Inc. now owns 1,130,857 shares of the semiconductor company’s stock worth $13,400,000 after buying an additional 3,160 shares during the period. Institutional investors and hedge funds own 87.79% of the company’s stock.

About FormFactor

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.

Analyst Recommendations for FormFactor (NASDAQ:FORM)

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