B. Riley Comments on FormFactor, Inc.’s Q2 2024 Earnings (NASDAQ:FORM)

FormFactor, Inc. (NASDAQ:FORM) – Equities research analysts at B. Riley increased their Q2 2024 earnings per share (EPS) estimates for shares of FormFactor in a research note issued to investors on Wednesday, May 1st. B. Riley analyst C. Ellis now anticipates that the semiconductor company will post earnings of $0.21 per share for the quarter, up from their prior estimate of $0.14. B. Riley has a “Buy” rating and a $54.00 price objective 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.

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

Other equities analysts also recently issued research reports about the company. Citigroup lifted their price target on FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday. Craig Hallum boosted their target price on FormFactor from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. TheStreet upgraded FormFactor from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. TD Cowen boosted their target price on FormFactor from $37.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Needham & Company LLC boosted their target price on FormFactor from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.30.

FormFactor Price Performance

FORM stock opened at $54.00 on Monday. The company has a market capitalization of $4.19 billion, a P/E ratio of 40.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.52 and a current ratio of 4.51. FormFactor has a 52-week low of $24.88 and a 52-week high of $54.27. The business has a 50-day simple moving average of $44.33 and a two-hundred day simple moving average of $40.63.

Institutional Investors Weigh In On FormFactor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP bought a new stake in FormFactor during the 1st quarter valued at $1,030,000. Janney Montgomery Scott LLC increased its holdings in shares of FormFactor by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 6,944 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 1,151 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of FormFactor by 1.9% in the first quarter. BNP Paribas Financial Markets now owns 69,174 shares of the semiconductor company’s stock worth $3,156,000 after purchasing an additional 1,319 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of FormFactor by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 338,999 shares of the semiconductor company’s stock worth $15,469,000 after purchasing an additional 18,375 shares during the period. Finally, Pinnacle Associates Ltd. increased its holdings in shares of FormFactor by 0.6% in the first quarter. Pinnacle Associates Ltd. now owns 374,468 shares of the semiconductor company’s stock worth $17,087,000 after purchasing an additional 2,090 shares during the period. Institutional investors own 98.76% of the company’s stock.

Insider Buying and Selling

In related news, CFO Shai Shahar sold 10,000 shares of FormFactor 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 sale, the chief financial officer now owns 67,141 shares of the company’s stock, valued at approximately $2,827,978.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $43.75, for a total transaction of $175,000.00. Following the sale, the chief executive officer now directly owns 491,781 shares in the company, valued at approximately $21,515,418.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,000 shares of company stock valued at $1,398,580. 0.96% of the stock is owned by company 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.