FormFactor, Inc. to Post Q2 2024 Earnings of $0.23 Per Share, DA Davidson Forecasts (NASDAQ:FORM)

FormFactor, Inc. (NASDAQ:FORM) – DA Davidson issued their Q2 2024 EPS estimates for FormFactor in a report released on Thursday, May 2nd. DA Davidson analyst T. Diffely forecasts that the semiconductor company will earn $0.23 per share 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.

A number of other brokerages have also recently issued reports on FORM. TD Cowen increased their price objective on shares of FormFactor from $37.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday. Evercore ISI initiated coverage on shares of FormFactor in a research report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 target price for the company. Stifel Nicolaus upped their target price on shares of FormFactor from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Craig Hallum upped their target price on shares of FormFactor from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Citigroup upped their target price on shares of FormFactor from $37.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, FormFactor has a consensus rating of “Hold” and a consensus target price of $47.30.

FormFactor Stock Performance

Shares of NASDAQ FORM opened at $54.00 on Monday. The firm has a fifty day moving average price of $44.33 and a 200-day moving average price of $40.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.51 and a quick ratio of 3.52. The stock has a market cap of $4.19 billion, a PE ratio of 40.91 and a beta of 1.15. FormFactor has a 1 year low of $24.88 and a 1 year high of $54.27.

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

Insider Buying and Selling at FormFactor

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of the 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 completion of the transaction, the chief financial officer now owns 67,141 shares in the company, valued at $2,827,978.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $43.38, for a total transaction of $173,520.00. Following the completion of the transaction, the chief executive officer now directly owns 499,781 shares of the company’s stock, valued at approximately $21,680,499.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shai Shahar sold 10,000 shares of FormFactor 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 transaction, the chief financial officer now directly 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 32,000 shares of company stock worth $1,398,580 over the last 90 days. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On FormFactor

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of FormFactor in the 3rd quarter valued at about $427,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of FormFactor by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,098 shares of the semiconductor company’s stock valued at $528,000 after purchasing an additional 1,989 shares in the last quarter. Emerald Advisers LLC raised its holdings in shares of FormFactor by 58.3% in the 3rd quarter. Emerald Advisers LLC now owns 481,911 shares of the semiconductor company’s stock valued at $16,838,000 after purchasing an additional 177,448 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in shares of FormFactor by 98.2% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 395,440 shares of the semiconductor company’s stock valued at $13,817,000 after purchasing an additional 195,898 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its holdings in shares of FormFactor by 2.9% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 70,846 shares of the semiconductor company’s stock valued at $2,475,000 after purchasing an additional 2,001 shares in the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

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.