Zacks: Analysts Anticipate FormFactor, Inc. (FORM) to Announce $0.24 EPS

Equities analysts expect FormFactor, Inc. (NASDAQ:FORM) to report $0.24 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for FormFactor’s earnings. FormFactor reported earnings of $0.40 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 40%. The firm is expected to issue its next earnings results on Wednesday, August 1st.

On average, analysts expect that FormFactor will report full-year earnings of $1.07 per share for the current year, with EPS estimates ranging from $0.96 to $1.19. For the next fiscal year, analysts anticipate that the company will report earnings of $1.36 per share, with EPS estimates ranging from $1.15 to $1.61. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow FormFactor.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, May 2nd. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $118.29 million for the quarter, compared to the consensus estimate of $116.08 million. FormFactor had a return on equity of 15.19% and a net margin of 7.04%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS.

FORM has been the topic of several analyst reports. BidaskClub downgraded FormFactor from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. Needham & Company LLC lowered FormFactor from a “strong-buy” rating to a “buy” rating and cut their price objective for the stock from $20.00 to $17.00 in a report on Friday, April 27th. TheStreet lowered FormFactor from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Zacks Investment Research upgraded FormFactor from a “strong sell” rating to a “hold” rating in a report on Monday, April 2nd. Finally, ValuEngine upgraded FormFactor from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.92.

In other FormFactor news, Director Michael W. Zellner sold 15,400 shares of the stock in a transaction on Friday, May 11th. The shares were sold at an average price of $13.09, for a total transaction of $201,586.00. Following the transaction, the director now directly owns 43,875 shares of the company’s stock, valued at $574,323.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond A. Link sold 4,500 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $13.35, for a total transaction of $60,075.00. Following the transaction, the director now directly owns 45,102 shares in the company, valued at $602,111.70. The disclosure for this sale can be found here. Insiders have sold 27,900 shares of company stock worth $367,421 over the last three months. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Swiss National Bank grew its position in FormFactor by 4.7% during the 4th quarter. Swiss National Bank now owns 123,500 shares of the semiconductor company’s stock valued at $1,933,000 after purchasing an additional 5,600 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of FormFactor by 3.8% in the 4th quarter. Macquarie Group Ltd. now owns 190,393 shares of the semiconductor company’s stock worth $2,980,000 after purchasing an additional 6,919 shares during the period. Northern Trust Corp lifted its stake in shares of FormFactor by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,101,564 shares of the semiconductor company’s stock worth $15,037,000 after purchasing an additional 7,144 shares during the period. SG Americas Securities LLC bought a new position in shares of FormFactor in the 1st quarter worth approximately $113,000. Finally, Meadow Creek Investment Management LLC bought a new position in shares of FormFactor in the 1st quarter worth approximately $117,000. 91.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FormFactor traded down $0.55, hitting $13.30, during midday trading on Wednesday, Marketbeat.com reports. The company had a trading volume of 418,250 shares, compared to its average volume of 871,824. FormFactor has a 52-week low of $11.10 and a 52-week high of $18.65. The company has a market capitalization of $982.28 million, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 0.98 and a beta of 1.36. The company has a current ratio of 3.23, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

Get a free copy of the Zacks research report on FormFactor (FORM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for FormFactor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FormFactor and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply