FormFactor, Inc. (FORM) Shares Gap Down to $0.00

FormFactor, Inc. (NASDAQ:FORM) gapped down before the market opened on Thursday . The stock had previously closed at ($16.55), but opened at $0.00. FormFactor shares last traded at $0.00, with a volume of 3140688 shares.

A number of equities research analysts have issued reports on FORM shares. B. Riley reiterated a “buy” rating and set a $22.00 target price (up from $20.00) on shares of FormFactor in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of FormFactor in a report on Friday, October 27th. DA Davidson reiterated a “buy” rating and set a $20.00 target price on shares of FormFactor in a report on Thursday, August 31st. BidaskClub upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Citigroup Inc. increased their target price on shares of FormFactor from $16.00 to $17.40 and gave the stock a “neutral” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. FormFactor presently has a consensus rating of “Buy” and a consensus price target of $18.06.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $143.74 million for the quarter, compared to analysts’ expectations of $140.83 million. FormFactor had a net margin of 8.74% and a return on equity of 11.33%. FormFactor’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share.

In other news, CFO Michael M. Ludwig sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $14.21, for a total transaction of $426,300.00. Following the transaction, the chief financial officer now directly owns 262,847 shares of the company’s stock, valued at $3,735,055.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael W. Zellner sold 3,725 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $15.26, for a total transaction of $56,843.50. Following the transaction, the director now directly owns 63,000 shares in the company, valued at $961,380. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,725 shares of company stock worth $623,844. 2.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of FORM. Pinnacle Associates Ltd. lifted its position in shares of FormFactor by 84.8% during the second quarter. Pinnacle Associates Ltd. now owns 2,001,290 shares of the semiconductor company’s stock worth $24,816,000 after purchasing an additional 918,160 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of FormFactor by 449.9% during the second quarter. Teachers Advisors LLC now owns 645,559 shares of the semiconductor company’s stock worth $8,005,000 after purchasing an additional 528,164 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of FormFactor by 107.0% during the second quarter. Russell Investments Group Ltd. now owns 840,529 shares of the semiconductor company’s stock worth $10,421,000 after purchasing an additional 434,494 shares in the last quarter. Monarch Partners Asset Management LLC lifted its position in shares of FormFactor by 225.6% during the second quarter. Monarch Partners Asset Management LLC now owns 589,571 shares of the semiconductor company’s stock worth $7,311,000 after purchasing an additional 408,495 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of FormFactor by 1,792.9% during the second quarter. Bank of Montreal Can now owns 366,799 shares of the semiconductor company’s stock worth $4,548,000 after purchasing an additional 347,421 shares in the last quarter. 86.17% of the stock is currently owned by institutional investors and hedge funds.

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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.

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