FormFactor (NASDAQ:FORM) Shares Gap Down – Should You Sell?

FormFactor, Inc. (NASDAQ:FORM) gapped down before the market opened on Thursday . The stock had previously closed at $29.76, but opened at $27.49. FormFactor shares last traded at $26.22, with a volume of 232,682 shares.

Analysts Set New Price Targets

Several research analysts recently issued reports on FORM shares. B. Riley lowered shares of FormFactor from a “buy” rating to a “neutral” rating and cut their target price for the stock from $64.00 to $34.00 in a research note on Thursday, February 6th. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $51.00 in a research note on Monday, January 6th. Stifel Nicolaus dropped their price target on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Evercore ISI cut their price target on FormFactor from $50.00 to $43.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of FormFactor in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.50.

FormFactor Price Performance

The firm has a market cap of $1.98 billion, a PE ratio of 28.60 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.61 and a quick ratio of 3.83. The business’s fifty day moving average is $32.54 and its 200-day moving average is $39.42.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, February 5th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.14). FormFactor had a net margin of 9.12% and a return on equity of 5.93%. On average, research analysts predict that FormFactor, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $28.24, for a total transaction of $112,960.00. Following the sale, the chief executive officer now owns 514,650 shares in the company, valued at $14,533,716. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its position in shares of FormFactor by 5.5% in the fourth quarter. D.A. Davidson & CO. now owns 5,510 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 288 shares during the period. Aviva PLC increased its holdings in shares of FormFactor by 2.3% in the fourth quarter. Aviva PLC now owns 14,750 shares of the semiconductor company’s stock worth $649,000 after purchasing an additional 331 shares during the period. Summit Investment Advisors Inc. raised its position in shares of FormFactor by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,100 shares of the semiconductor company’s stock worth $356,000 after buying an additional 400 shares in the last quarter. Manchester Capital Management LLC boosted its stake in FormFactor by 63.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,130 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 440 shares during the period. Finally, Xponance Inc. grew its position in FormFactor by 10.1% during the fourth quarter. Xponance Inc. now owns 5,582 shares of the semiconductor company’s stock worth $246,000 after buying an additional 511 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

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.