FormFactor (FORM) Cut to Sell at BidaskClub

FormFactor (NASDAQ:FORM) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Several other research analysts have also recently commented on FORM. Zacks Investment Research upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. B. Riley decreased their target price on shares of FormFactor from $19.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 30th. TheStreet upgraded shares of FormFactor from a “c+” rating to a “b” rating in a report on Thursday, August 2nd. Finally, ValuEngine cut shares of FormFactor from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $17.38.

Shares of FORM opened at $12.21 on Thursday. The company has a market capitalization of $1.02 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.57 and a beta of 1.34. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.25 and a current ratio of 2.94. FormFactor has a 12-month low of $11.10 and a 12-month high of $18.65.

FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, August 1st. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. FormFactor had a net margin of 5.55% and a return on equity of 12.77%. The company had revenue of $135.51 million during the quarter, compared to analysts’ expectations of $134.87 million. During the same period last year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, research analysts forecast that FormFactor will post 0.73 EPS for the current fiscal year.

In other FormFactor news, Director Michael W. Zellner sold 11,000 shares of the firm’s 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 transaction, the director now directly owns 41,875 shares in the company, valued at $564,893.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Delateur sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $14.07, for a total transaction of $84,420.00. Following the completion of the transaction, the director now owns 13,000 shares of the company’s stock, valued at $182,910. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of FormFactor during the first quarter worth approximately $113,000. NumerixS Investment Technologies Inc boosted its holdings in shares of FormFactor by 405.6% during the second quarter. NumerixS Investment Technologies Inc now owns 9,100 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 7,300 shares during the period. Aperio Group LLC acquired a new stake in shares of FormFactor during the first quarter worth approximately $140,000. Amalgamated Bank acquired a new stake in shares of FormFactor during the first quarter worth approximately $141,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of FormFactor during the second quarter worth approximately $148,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

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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