Analysts Expect FormFactor, Inc. (FORM) Will Post Quarterly Sales of $140.18 Million
Equities analysts forecast that FormFactor, Inc. (NASDAQ:FORM) will announce $140.18 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for FormFactor’s earnings. The lowest sales estimate is $139.70 million and the highest is $140.50 million. FormFactor reported sales of $123.30 million in the same quarter last year, which indicates a positive year over year growth rate of 13.7%. The company is scheduled to report its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that FormFactor will report full-year sales of $140.18 million for the current financial year, with estimates ranging from $542.80 million to $546.70 million. For the next fiscal year, analysts forecast that the company will post sales of $572.85 million per share, with estimates ranging from $563.70 million to $580.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover FormFactor.
FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. FormFactor had a positive return on equity of 15.62% and a negative net margin of 1.32%. The business had revenue of $144.00 million during the quarter, compared to analyst estimates of $134.53 million. During the same period in the prior year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 73.3% compared to the same quarter last year.
Several analysts have weighed in on FORM shares. B. Riley reaffirmed a “buy” rating and set a $17.00 price objective on shares of FormFactor in a research note on Saturday, July 1st. Zacks Investment Research upgraded shares of FormFactor from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Wednesday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price (up previously from $16.00) on shares of FormFactor in a research note on Thursday, August 3rd. BidaskClub cut shares of FormFactor from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, DA Davidson reissued a “buy” rating and issued a $20.00 target price on shares of FormFactor in a report on Thursday, August 31st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $17.43.
In other news, CFO Michael M. Ludwig sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $14.07, for a total transaction of $140,700.00. Following the sale, the chief financial officer now directly owns 267,977 shares of the company’s stock, valued at $3,770,436.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael M. Ludwig sold 30,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 262,847 shares in the company, valued at $3,735,055.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,725 shares of company stock valued at $623,844. Insiders own 2.84% of the company’s stock.
A number of hedge funds have recently bought and sold shares of FORM. Suntrust Banks Inc. acquired a new position in FormFactor during the 1st quarter worth $122,000. Gotham Asset Management LLC bought a new position in FormFactor in the 2nd quarter valued at $140,000. Great West Life Assurance Co. Can boosted its position in FormFactor by 214.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 12,462 shares of the semiconductor company’s stock valued at $154,000 after buying an additional 8,505 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in FormFactor in the 1st quarter valued at $160,000. Finally, Quantbot Technologies LP boosted its position in FormFactor by 3,136.6% in the 2nd quarter. Quantbot Technologies LP now owns 14,662 shares of the semiconductor company’s stock valued at $181,000 after buying an additional 14,209 shares during the last quarter. Hedge funds and other institutional investors own 86.55% of the company’s stock.
Shares of FormFactor (NASDAQ:FORM) opened at 16.629 on Monday. The firm’s 50-day moving average price is $14.55 and its 200 day moving average price is $13.07. FormFactor has a 52 week low of $8.55 and a 52 week high of $16.95. The company’s market cap is $1.21 billion.
FormFactor Company Profile
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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