FormFactor's stock plummeted 6.63% in intraday trading on Friday, extending a multi-day pullback.
The decline reflects continued profit-taking following a sharp post-earnings rally, compounded by broad weakness across the semiconductor equipment sector. FormFactor had previously reported strong first-quarter results with revenue reaching $230 million and management raising second-quarter guidance.
Additionally, the sell-off appears to be linked to a regulatory filing showing that CEO Mike Slessor disposed of 8,538 common shares for proceeds totaling approximately $866,926.87. Insider sales by top executives are closely watched by investors and can trigger negative market sentiment.
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