FormFactor (FORM) Rating Lowered to Neutral at Sidoti

FormFactor (NASDAQ:FORM) was downgraded by Sidoti from a “buy” rating to a “neutral” rating in a research note issued on Monday, The Fly reports.

FORM has been the topic of several other reports. BidaskClub upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a research note on Friday, October 19th. Zacks Investment Research reiterated a “sell” rating on shares of FormFactor in a research note on Tuesday, November 13th. Finally, ValuEngine upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $17.38.

NASDAQ:FORM traded down $0.11 during midday trading on Monday, hitting $16.38. 10,376 shares of the company were exchanged, compared to its average volume of 594,529. FormFactor has a fifty-two week low of $11.10 and a fifty-two week high of $17.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.13 and a quick ratio of 2.35. The firm has a market capitalization of $1.22 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.83 and a beta of 1.66.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, October 31st. The semiconductor company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. FormFactor had a net margin of 4.71% and a return on equity of 11.42%. The firm had revenue of $135.00 million for the quarter, compared to analyst estimates of $133.13 million. During the same period last year, the business earned $0.34 EPS. FormFactor’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that FormFactor will post 0.75 EPS for the current year.

In other FormFactor news, Director Michael W. Zellner sold 11,000 shares of FormFactor stock in a transaction on Friday, September 7th. The shares were sold at an average price of $13.49, for a total value of $148,390.00. Following the transaction, the director now directly owns 41,875 shares in the company, valued at $564,893.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Several large investors have recently modified their holdings of FORM. Earnest Partners LLC purchased a new stake in shares of FormFactor in the second quarter valued at about $38,557,000. BlackRock Inc. boosted its holdings in shares of FormFactor by 9.3% in the second quarter. BlackRock Inc. now owns 10,191,123 shares of the semiconductor company’s stock valued at $135,540,000 after acquiring an additional 868,212 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of FormFactor by 8.7% in the third quarter. Vanguard Group Inc. now owns 7,472,866 shares of the semiconductor company’s stock valued at $102,751,000 after acquiring an additional 600,660 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of FormFactor by 1,172.4% in the first quarter. Principal Financial Group Inc. now owns 600,047 shares of the semiconductor company’s stock valued at $8,191,000 after acquiring an additional 552,888 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of FormFactor by 78.4% in the third quarter. Wells Fargo & Company MN now owns 867,309 shares of the semiconductor company’s stock valued at $11,925,000 after acquiring an additional 381,208 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

FormFactor Company Profile

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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