Zacks: Brokerages Expect FormFactor, Inc. (NASDAQ:FORM) Will Announce Earnings of $0.39 Per Share


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Wall Street analysts expect FormFactor, Inc. (NASDAQ:FORM) to post earnings of $0.39 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for FormFactor’s earnings, with estimates ranging from $0.38 to $0.40. FormFactor posted earnings per share of $0.33 during the same quarter last year, which indicates a positive year over year growth rate of 18.2%. The firm is scheduled to issue its next earnings results on Wednesday, May 5th.

On average, analysts expect that FormFactor will report full-year earnings of $1.61 per share for the current year, with EPS estimates ranging from $1.58 to $1.65. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.79 per share, with EPS estimates ranging from $1.76 to $1.80. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for FormFactor.

FormFactor (NASDAQ:FORM) last posted its earnings results on Tuesday, February 2nd. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. FormFactor had a net margin of 11.53% and a return on equity of 14.52%. The business had revenue of $197.00 million for the quarter, compared to analyst estimates of $183.95 million. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis.

FORM has been the subject of several research analyst reports. B. Riley upped their price target on shares of FormFactor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 25th. Cowen increased their price objective on shares of FormFactor from $45.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, February 4th. Craig Hallum increased their price objective on shares of FormFactor from $35.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Citigroup increased their price objective on shares of FormFactor from $36.00 to $57.00 in a report on Monday, January 25th. Finally, DA Davidson downgraded shares of FormFactor from a “buy” rating to a “neutral” rating and increased their price objective for the company from $36.00 to $50.00 in a report on Tuesday, January 26th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. FormFactor currently has an average rating of “Buy” and an average target price of $43.67.

In other FormFactor news, CEO Mike Slessor sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $46.27, for a total value of $1,156,750.00. Following the completion of the transaction, the chief executive officer now owns 384,219 shares of the company’s stock, valued at approximately $17,777,813.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward Rogas, Jr. sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $48.75, for a total transaction of $877,500.00. Company insiders own 1.22% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. THB Asset Management boosted its position in FormFactor by 0.7% in the 4th quarter. THB Asset Management now owns 35,176 shares of the semiconductor company’s stock valued at $1,513,000 after buying an additional 229 shares during the period. ExodusPoint Capital Management LP boosted its position in FormFactor by 4.3% in the 3rd quarter. ExodusPoint Capital Management LP now owns 10,898 shares of the semiconductor company’s stock valued at $272,000 after buying an additional 454 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of FormFactor by 2.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 18,940 shares of the semiconductor company’s stock valued at $472,000 after purchasing an additional 460 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of FormFactor in the 4th quarter valued at $26,000. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of FormFactor by 0.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 73,121 shares of the semiconductor company’s stock valued at $3,146,000 after purchasing an additional 616 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

FORM stock opened at $49.68 on Thursday. FormFactor has a 52-week low of $20.51 and a 52-week high of $52.39. The company has a quick ratio of 2.65, a current ratio of 3.35 and a debt-to-equity ratio of 0.04. The company’s 50-day simple moving average is $45.74 and its 200-day simple moving average is $40.22. The firm has a market cap of $3.86 billion, a P/E ratio of 50.18 and a beta of 1.42.

FormFactor Company Profile

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. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems 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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