DA Davidson Issues Negative Estimate for FormFactor Earnings

FormFactor, Inc. (NASDAQ:FORM - Free Report) - Equities research analysts at DA Davidson cut their FY2024 earnings per share estimates for shares of FormFactor in a research note issued on Thursday, October 31st. DA Davidson analyst T. Diffely now forecasts that the semiconductor company will post earnings per share of $0.75 for the year, down from their prior forecast of $0.83. DA Davidson currently has a "Buy" rating and a $62.00 target price on the stock. The consensus estimate for FormFactor's current full-year earnings is $0.74 per share. DA Davidson also issued estimates for FormFactor's Q4 2024 earnings at $0.19 EPS.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.05. FormFactor had a net margin of 18.29% and a return on equity of 5.42%. The firm had revenue of $197.47 million for the quarter, compared to analyst estimates of $195.01 million.

Several other analysts have also commented on FORM. TD Cowen reduced their price target on shares of FormFactor from $60.00 to $44.00 and set a "hold" rating on the stock in a research report on Thursday. StockNews.com downgraded shares of FormFactor from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Stifel Nicolaus boosted their price target on shares of FormFactor from $50.00 to $55.00 and gave the stock a "hold" rating in a research note on Tuesday, July 16th. Finally, Needham & Company LLC dropped their price target on shares of FormFactor from $60.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $55.38.

FormFactor Trading Up 2.0 %

Shares of FORM stock traded up $0.77 during trading on Friday, hitting $38.75. 938,842 shares of the stock traded hands, compared to its average volume of 577,536. The firm has a market capitalization of $3.00 billion, a P/E ratio of 22.27 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64. The firm's fifty day moving average price is $44.84 and its 200-day moving average price is $50.50. FormFactor has a 52-week low of $32.16 and a 52-week high of $63.63.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total transaction of $185,240.00. Following the completion of the transaction, the chief executive officer now directly owns 534,276 shares of the company's stock, valued at $24,742,321.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total transaction of $185,240.00. Following the transaction, the chief executive officer now owns 534,276 shares in the company, valued at approximately $24,742,321.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the transaction, the director now owns 12,970 shares in the company, valued at $543,961.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,770 shares of company stock valued at $650,294 in the last ninety days. Corporate insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On FormFactor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in shares of FormFactor during the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC acquired a new position in FormFactor during the 2nd quarter valued at about $43,000. LRI Investments LLC acquired a new position in FormFactor during the 1st quarter valued at about $70,000. Covestor Ltd boosted its stake in FormFactor by 3,951.3% during the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 1,541 shares during the period. Finally, CWM LLC boosted its stake in FormFactor by 25.5% during the 2nd quarter. CWM LLC now owns 1,823 shares of the semiconductor company's stock valued at $110,000 after purchasing an additional 370 shares during the period. 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.