FormFactor, Inc. (FORM) Expected to Announce Earnings of $0.24 Per Share
Wall Street analysts expect FormFactor, Inc. (NASDAQ:FORM) to report earnings of $0.24 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for FormFactor’s earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.26. FormFactor reported earnings of $0.10 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 140%. The firm is expected to issue its next quarterly earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that FormFactor will report full-year earnings of $0.85 per share for the current year, with EPS estimates ranging from $0.81 to $0.92. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow FormFactor.
FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, May 3rd. The semiconductor company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $128.80 million for the quarter, compared to the consensus estimate of $124.07 million. FormFactor had a return on equity of 5.09% and a net margin of 4.02%. The firm’s quarterly revenue was up 140.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.11) EPS.
FORM has been the subject of a number of recent analyst reports. TheStreet lowered shares of FormFactor from a “b-” rating to a “c+” rating in a research report on Friday, February 24th. Sidoti initiated coverage on shares of FormFactor in a research report on Friday, March 10th. They issued a “buy” rating and a $15.00 target price for the company. B. Riley reiterated a “buy” rating and issued a $17.00 target price on shares of FormFactor in a research report on Tuesday, May 9th. Zacks Investment Research upgraded shares of FormFactor from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Monday, May 8th. Finally, ValuEngine upgraded shares of FormFactor from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $15.63.
FormFactor (FORM) traded down 2.23% during mid-day trading on Tuesday, hitting $13.15. The company had a trading volume of 259,868 shares. The company has a 50 day moving average of $13.84 and a 200 day moving average of $12.07. FormFactor has a 1-year low of $8.31 and a 1-year high of $15.58. The firm has a market capitalization of $948.39 million, a PE ratio of 72.25 and a beta of 1.59.
In other news, Director Richard Delateur sold 80,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $13.80, for a total transaction of $1,104,000.00. Following the completion of the transaction, the director now owns 90,000 shares in the company, valued at approximately $1,242,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward Rogas, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $13.90, for a total transaction of $83,400.00. Following the transaction, the director now owns 56,000 shares of the company’s stock, valued at approximately $778,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 479,083 shares of company stock valued at $6,853,928. Insiders own 2.84% of the company’s stock.
Several institutional investors have recently bought and sold shares of FORM. Norges Bank acquired a new position in FormFactor during the fourth quarter valued at $8,524,000. State Street Corp raised its position in FormFactor by 7.9% in the fourth quarter. State Street Corp now owns 1,263,833 shares of the semiconductor company’s stock valued at $14,155,000 after buying an additional 92,544 shares during the period. Putnam Investments LLC raised its position in FormFactor by 4.4% in the fourth quarter. Putnam Investments LLC now owns 798,261 shares of the semiconductor company’s stock valued at $8,941,000 after buying an additional 33,572 shares during the period. Fisher Asset Management LLC raised its position in FormFactor by 50.7% in the first quarter. Fisher Asset Management LLC now owns 286,532 shares of the semiconductor company’s stock valued at $3,395,000 after buying an additional 96,336 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in FormFactor during the first quarter valued at $288,000. Institutional investors own 87.79% of the company’s stock.
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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