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

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

Other research analysts have also issued reports about the stock. B. Riley raised their target price on shares of FormFactor from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Craig Hallum lifted their target price on FormFactor from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Needham & Company LLC lifted their target price on FormFactor from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Citigroup lifted their target price on FormFactor from $37.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, TheStreet upgraded FormFactor from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, FormFactor has an average rating of “Hold” and a consensus price target of $47.30.

FormFactor Trading Up 1.4 %

FORM stock opened at $56.03 on Monday. The firm has a fifty day moving average price of $44.87 and a 200 day moving average price of $40.98. FormFactor has a fifty-two week low of $27.46 and a fifty-two week high of $56.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 4.51. The firm has a market cap of $4.35 billion, a PE ratio of 42.45 and a beta of 1.15.

Institutional Investors Weigh In On FormFactor

A number of large investors have recently modified their holdings of FORM. Wellington Management Group LLP grew its stake in shares of FormFactor by 81.1% during the fourth quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after acquiring an additional 862,885 shares during the last quarter. Norges Bank purchased a new stake in FormFactor in the fourth quarter valued at approximately $21,454,000. TimesSquare Capital Management LLC purchased a new stake in FormFactor in the fourth quarter valued at approximately $15,484,000. Sora Investors LLC purchased a new stake in FormFactor in the third quarter valued at approximately $7,862,000. Finally, Envestnet Asset Management Inc. boosted its position in FormFactor by 124.3% in the third quarter. Envestnet Asset Management Inc. now owns 405,695 shares of the semiconductor company’s stock valued at $14,175,000 after buying an additional 224,799 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Insiders Place Their Bets

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the completion of the transaction, the chief financial officer now directly owns 67,141 shares in the company, valued at $2,827,978.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.12, for a total value of $421,200.00. Following the completion of the transaction, the chief financial officer now directly owns 67,141 shares in the company, valued at $2,827,978.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $45.94, for a total transaction of $183,760.00. Following the completion of the transaction, the chief executive officer now owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,000 shares of company stock worth $1,398,580. 0.96% of the stock is owned by corporate insiders.

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 in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.