FormFactor (NASDAQ:FORM) Shares Gap Up After Earnings Beat

FormFactor, Inc. (NASDAQ:FORM)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $28.14, but opened at $31.96. FormFactor shares last traded at $32.11, with a volume of 459,291 shares traded.

The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $171.36 million during the quarter, compared to the consensus estimate of $170.03 million. FormFactor had a return on equity of 5.93% and a net margin of 9.12%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS.

Wall Street Analyst Weigh In

FORM has been the topic of several research reports. B. Riley raised their price objective on shares of FormFactor from $26.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of FormFactor in a research note on Thursday. Stifel Nicolaus reduced their price objective on FormFactor from $48.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Evercore ISI dropped their target price on FormFactor from $43.00 to $33.00 and set an “in-line” rating for the company in a research report on Thursday. Finally, DA Davidson reduced their price target on shares of FormFactor from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, FormFactor presently has a consensus rating of “Hold” and an average target price of $42.71.

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $28.24, for a total value of $112,960.00. Following the transaction, the chief executive officer now directly owns 514,650 shares of the company’s stock, valued at $14,533,716. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 12,000 shares of company stock worth $395,760. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FormFactor

A number of large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of FormFactor by 14.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company’s stock worth $362,000 after purchasing an additional 972 shares during the last quarter. Barclays PLC raised its holdings in shares of FormFactor by 351.9% during the third quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after acquiring an additional 113,296 shares in the last quarter. Franklin Resources Inc. lifted its stake in FormFactor by 5.1% in the third quarter. Franklin Resources Inc. now owns 388,744 shares of the semiconductor company’s stock worth $18,940,000 after acquiring an additional 18,810 shares during the period. Assenagon Asset Management S.A. boosted its holdings in FormFactor by 19.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 250,916 shares of the semiconductor company’s stock valued at $11,040,000 after acquiring an additional 40,612 shares in the last quarter. Finally, IFP Advisors Inc increased its position in FormFactor by 4,732.4% during the 4th quarter. IFP Advisors Inc now owns 1,643 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 1,609 shares during the period. Institutional investors own 98.76% of the company’s stock.

FormFactor Stock Performance

The company’s 50-day moving average price is $29.16 and its 200 day moving average price is $37.26. The stock has a market capitalization of $2.33 billion, a PE ratio of 34.00 and a beta of 1.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.83 and a current ratio of 4.61.

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.