Research Analysts Set Expectations for FormFactor, Inc.’s Q2 2024 Earnings (NASDAQ:FORM)

FormFactor, Inc. (NASDAQ:FORM) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for FormFactor in a research note issued on Thursday, May 2nd. DA Davidson analyst T. Diffely forecasts that the semiconductor company will post earnings per share of $0.23 for the quarter. The consensus estimate for FormFactor’s current full-year earnings is $0.68 per share. DA Davidson also issued estimates for FormFactor’s FY2024 earnings at $0.94 EPS and FY2025 earnings at $1.60 EPS.

FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. FormFactor had a net margin of 15.48% and a return on equity of 2.29%. The business had revenue of $168.16 million during the quarter, compared to the consensus estimate of $165.49 million.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI started coverage on shares of FormFactor in a report on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 price target for the company. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a report on Friday, April 19th. B. Riley raised their price target on shares of FormFactor from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus raised their price target on shares of FormFactor from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Finally, Craig Hallum lifted their price objective on shares of FormFactor from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $47.30.

FormFactor Trading Up 1.4 %

NASDAQ:FORM opened at $56.03 on Monday. The company has a current ratio of 4.51, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 42.45 and a beta of 1.15. The firm has a fifty day simple moving average of $44.87 and a two-hundred day simple moving average of $40.98. FormFactor has a 12 month low of $27.46 and a 12 month high of $56.98.

Insider Activity at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $43.75, for a total transaction of $175,000.00. Following the transaction, the chief executive officer now directly owns 491,781 shares of the company’s stock, valued at $21,515,418.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Shai Shahar sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $44.51, for a total transaction of $445,100.00. Following the transaction, the chief financial officer now directly owns 27,591 shares of the company’s stock, valued at $1,228,075.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $43.75, for a total transaction of $175,000.00. Following the completion of the sale, the chief executive officer now directly owns 491,781 shares in the company, valued at approximately $21,515,418.75. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock valued at $1,398,580 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Several hedge funds have recently added to or reduced their stakes in FORM. SG Americas Securities LLC bought a new stake in FormFactor in the third quarter worth about $427,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of FormFactor by 15.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,098 shares of the semiconductor company’s stock valued at $528,000 after purchasing an additional 1,989 shares during the period. Emerald Advisers LLC raised its position in shares of FormFactor by 58.3% in the third quarter. Emerald Advisers LLC now owns 481,911 shares of the semiconductor company’s stock valued at $16,838,000 after purchasing an additional 177,448 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in shares of FormFactor by 98.2% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 395,440 shares of the semiconductor company’s stock valued at $13,817,000 after purchasing an additional 195,898 shares during the period. Finally, Knights of Columbus Asset Advisors LLC raised its position in shares of FormFactor by 2.9% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 70,846 shares of the semiconductor company’s stock valued at $2,475,000 after purchasing an additional 2,001 shares during the period. Institutional investors own 98.76% of the company’s stock.

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.