B. Riley Brokers Lift Earnings Estimates for FormFactor, Inc. (NASDAQ:FORM)

FormFactor, Inc. (NASDAQ:FORM) – Analysts at B. Riley boosted their Q2 2024 earnings per share (EPS) estimates for FormFactor in a note issued to investors on Wednesday, May 1st. B. Riley analyst C. Ellis now expects that the semiconductor company will post earnings per share of $0.21 for the quarter, up from their prior forecast of $0.14. B. Riley currently has a “Buy” rating and a $54.00 target price on the stock. The consensus estimate for FormFactor’s current full-year earnings is $0.68 per share. B. Riley also issued estimates for FormFactor’s Q3 2024 earnings at $0.21 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.31 EPS and FY2025 earnings at $1.04 EPS.

FORM has been the topic of several other reports. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. TD Cowen upped their price objective on FormFactor from $37.00 to $48.00 and gave the company a “hold” 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 report on Thursday, May 2nd. Craig Hallum increased their price target on FormFactor from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Evercore ISI initiated coverage on FormFactor in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 price target for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.30.

FormFactor Price Performance

FORM stock opened at $55.27 on Monday. FormFactor has a 52 week low of $27.46 and a 52 week high of $55.43. The firm has a market capitalization of $4.29 billion, a P/E ratio of 41.87 and a beta of 1.15. The company has a fifty day simple moving average of $44.33 and a two-hundred day simple moving average of $40.66. The company has a quick ratio of 3.67, a current ratio of 4.51 and a debt-to-equity ratio of 0.01.

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

Insider Buying and Selling

In other news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 67,141 shares of the company’s stock, valued at approximately $2,827,978.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mike Slessor sold 4,000 shares of the firm’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 sale, the chief executive officer now owns 495,781 shares of the company’s stock, valued at $22,776,179.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.12, for a total transaction of $421,200.00. Following the completion of the transaction, the chief financial officer now owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $1,398,580 over the last three months. 0.96% of the stock is owned by company insiders.

Institutional Trading of FormFactor

A number of institutional investors have recently modified their holdings of FORM. Wellington Management Group LLP boosted its holdings in FormFactor by 81.1% in 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 in the last quarter. Norges Bank purchased a new position in FormFactor during the 4th quarter worth approximately $21,454,000. TimesSquare Capital Management LLC acquired a new position in FormFactor during the fourth quarter valued at $15,484,000. Sora Investors LLC acquired a new position in shares of FormFactor in the 3rd quarter valued at about $7,862,000. Finally, Envestnet Asset Management Inc. boosted its position in FormFactor by 124.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 405,695 shares of the semiconductor company’s stock worth $14,175,000 after purchasing an additional 224,799 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

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.