FormFactor (FORM) Set to Announce Quarterly Earnings on Wednesday

FormFactor (NASDAQ:FORM) is scheduled to be releasing its earnings data after the market closes on Wednesday, October 30th. Analysts expect FormFactor to post earnings of $0.31 per share for the quarter. FormFactor has set its Q3 guidance at $0.27 to $0.35 EPS and its Q3 2024 guidance at 0.270-0.350 EPS.Parties interested in participating in the company’s conference call can do so using this link.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. The firm had revenue of $197.47 million during the quarter, compared to analysts’ expectations of $195.01 million. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. On average, analysts expect FormFactor to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

FormFactor Stock Performance

FORM opened at $43.79 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 4.46. FormFactor has a 52-week low of $31.51 and a 52-week high of $63.63. The firm has a market cap of $3.38 billion, a P/E ratio of 33.17 and a beta of 1.11. The business’s fifty day moving average is $46.01 and its 200-day moving average is $50.76.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FORM. Stifel Nicolaus increased their price objective on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, July 16th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of FormFactor in a research report on Thursday, August 1st. StockNews.com downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. TD Cowen raised their target price on FormFactor from $48.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, DA Davidson lifted their price target on FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, FormFactor currently has a consensus rating of “Hold” and an average price target of $59.63.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total value of $181,120.00. Following the completion of the transaction, the chief executive officer now directly owns 530,276 shares in the company, valued at approximately $24,010,897.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total value of $181,120.00. Following the completion of the transaction, the chief executive officer now owns 530,276 shares of the company’s stock, valued at $24,010,897.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total value of $283,933.80. Following the sale, the director now directly owns 12,970 shares in the company, valued at $543,961.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,770 shares of company stock valued at $854,014. 0.96% of the stock is currently owned by insiders.

About FormFactor

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.