FormFactor (NASDAQ:FORM) Releases Q3 Earnings Guidance

FormFactor (NASDAQ:FORM) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.30 to $0.38 for the period, compared to the Thomson Reuters consensus estimate of $0.28. The company issued revenue guidance of $170 million to $182 million, compared to the consensus revenue estimate of $158.77 million.FormFactor also updated its Q3 2020
After-Hours guidance to 0.30-0.38 EPS.

A number of equities research analysts have weighed in on FORM shares. Cowen boosted their target price on shares of FormFactor from $24.00 to $30.00 and gave the stock a market perform rating in a report on Thursday, July 2nd. Citigroup raised shares of FormFactor from a neutral rating to a buy rating and boosted their target price for the stock from $27.00 to $36.00 in a report on Monday, July 20th. B. Riley boosted their target price on shares of FormFactor from $40.00 to $45.00 in a report on Friday. Sidoti boosted their target price on shares of FormFactor from $28.00 to $32.00 and gave the stock a buy rating in a report on Thursday, June 4th. Finally, BidaskClub raised shares of FormFactor from a buy rating to a strong-buy rating in a report on Thursday, June 18th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $30.30.

Shares of NASDAQ:FORM traded down $2.01 during trading on Friday, reaching $28.84. The stock had a trading volume of 1,404,313 shares, compared to its average volume of 547,393. The firm’s fifty day moving average is $29.82 and its 200 day moving average is $25.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.63. FormFactor has a 52 week low of $16.25 and a 52 week high of $33.07. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 35.60 and a beta of 1.40.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. FormFactor had a net margin of 9.92% and a return on equity of 13.09%. The company had revenue of $157.82 million for the quarter, compared to analyst estimates of $159.00 million. On average, research analysts forecast that FormFactor will post 0.96 earnings per share for the current fiscal year.

In related news, Director Sheri Rhodes sold 2,010 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $31.90, for a total transaction of $64,119.00. Following the transaction, the director now owns 2,009 shares in the company, valued at approximately $64,087.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $24.60, for a total transaction of $615,000.00. Following the transaction, the chief executive officer now owns 345,767 shares in the company, valued at approximately $8,505,868.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,121 shares of company stock worth $1,061,110. Insiders own 1.22% of the company’s stock.

FormFactor Company Profile

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and Systems. The company offers probe cards that are used to test various semiconductor device types, including system 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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Earnings History and Estimates for FormFactor (NASDAQ:FORM)

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