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

Shares of FormFactor, Inc. (NASDAQ:FORM) 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 changing hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FORM shares. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Needham & Company LLC lowered FormFactor from a “buy” rating to a “hold” rating in a research note on Monday. Finally, TD Cowen decreased their price objective on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.00.

FormFactor Trading Down 4.3 %

The business has a 50 day simple moving average of $42.54 and a 200-day simple moving average of $46.62. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 24.33 and a beta of 1.08.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total value of $177,760.00. Following the transaction, the chief executive officer now directly owns 522,531 shares of the company’s stock, valued at $23,221,277.64. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FormFactor

Several hedge funds and other institutional investors have recently modified their holdings of FORM. New York State Common Retirement Fund lifted its stake in shares of FormFactor by 876.0% in the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock valued at $14,876,000 after purchasing an additional 290,254 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of FormFactor in the 2nd quarter valued at about $15,893,000. Renaissance Technologies LLC acquired a new position in shares of FormFactor in the 2nd quarter valued at about $13,938,000. TimesSquare Capital Management LLC lifted its stake in shares of FormFactor by 29.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 586,700 shares of the semiconductor company’s stock valued at $26,988,000 after purchasing an additional 134,170 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of FormFactor by 351.9% in the 3rd quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after purchasing an additional 113,296 shares in the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

FormFactor Company Profile

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.