Research Analysts Issue Forecasts for FormFactor, Inc.’s Q2 2024 Earnings (NASDAQ:FORM)

FormFactor, Inc. (NASDAQ:FORM) – Equities research analysts at B. Riley lifted their Q2 2024 EPS estimates for FormFactor in a report released on Wednesday, May 1st. B. Riley analyst C. Ellis now anticipates that the semiconductor company will earn $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.

Other analysts have also recently issued research reports about the stock. TheStreet raised shares of FormFactor from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. 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 report on Thursday, May 2nd. Evercore ISI started coverage on shares of FormFactor in a research report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price objective on the stock. Needham & Company LLC increased their price objective on shares of FormFactor from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Citigroup increased their price objective on shares of FormFactor from $37.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, FormFactor currently has a consensus rating of “Hold” and an average target price of $47.30.

FormFactor Stock Performance

Shares of FORM opened at $56.03 on Monday. The company has a current ratio of 4.51, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.35 billion, a P/E ratio of 42.45 and a beta of 1.15. The firm’s fifty day simple moving average is $44.87 and its two-hundred day simple moving average is $40.98. FormFactor has a 12 month low of $27.46 and a 12 month high of $56.98.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $168.16 million for 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

In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $43.75, for a total value of $175,000.00. Following the sale, the chief executive officer now owns 491,781 shares in the company, valued at approximately $21,515,418.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $43.75, for a total value of $175,000.00. Following the sale, the chief executive officer now owns 491,781 shares in the company, valued at approximately $21,515,418.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shai Shahar sold 10,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $44.51, for a total transaction of $445,100.00. Following the completion of the sale, the chief financial officer now owns 27,591 shares of the company’s stock, valued at approximately $1,228,075.41. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock worth $1,398,580 in the last quarter. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp Et Al increased its stake in FormFactor by 368.7% in the 3rd quarter. Tudor Investment Corp Et Al now owns 83,760 shares of the semiconductor company’s stock valued at $2,927,000 after buying an additional 65,889 shares during the last quarter. Dark Forest Capital Management LP increased its stake in FormFactor by 240.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 23,649 shares of the semiconductor company’s stock valued at $826,000 after buying an additional 16,702 shares during the last quarter. Vanguard Group Inc. increased its stake in FormFactor by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock valued at $341,007,000 after buying an additional 224,599 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in FormFactor by 5.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 815,716 shares of the semiconductor company’s stock valued at $28,501,000 after buying an additional 45,248 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of FormFactor during the 3rd quarter worth approximately $301,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.