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

FormFactor, Inc. (NASDAQ:FORM) – Stock analysts at B. Riley raised their Q2 2024 earnings per share (EPS) estimates for FormFactor in a report issued on Wednesday, May 1st. B. Riley analyst C. Ellis now anticipates that the semiconductor company will post earnings of $0.21 per share for the quarter, up from their prior forecast of $0.14. B. Riley currently 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.

FORM has been the subject of a number of other research reports. Craig Hallum boosted their price target on FormFactor from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. TheStreet upgraded FormFactor from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. TD Cowen boosted their price target on FormFactor from $37.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Citigroup boosted their price target on FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Needham & Company LLC boosted their price target on FormFactor from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, FormFactor presently has a consensus rating of “Hold” and an average price target of $47.30.

FormFactor Price Performance

Shares of NASDAQ:FORM opened at $56.03 on Monday. FormFactor has a fifty-two week low of $27.46 and a fifty-two week high of $56.98. The business has a 50-day moving average of $44.87 and a two-hundred day moving average of $40.98. The stock has a market capitalization of $4.35 billion, a P/E ratio of 42.45 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.51 and a quick ratio of 3.67.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. boosted its holdings in shares of FormFactor by 5.4% in the 1st quarter. Sei Investments Co. now owns 1,493,665 shares of the semiconductor company’s stock worth $68,156,000 after acquiring an additional 76,032 shares in the last quarter. Swiss National Bank lifted its holdings in FormFactor by 0.4% during the 1st quarter. Swiss National Bank now owns 153,600 shares of the semiconductor company’s stock worth $7,009,000 after buying an additional 600 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in FormFactor by 60.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 595,300 shares of the semiconductor company’s stock worth $27,164,000 after buying an additional 224,075 shares in the last quarter. OPTIMAS CAPITAL Ltd lifted its holdings in FormFactor by 110.7% during the 1st quarter. OPTIMAS CAPITAL Ltd now owns 47,400 shares of the semiconductor company’s stock worth $2,163,000 after buying an additional 24,900 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in FormFactor during the 1st quarter worth $123,000. 98.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Shai Shahar sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.12, for a total value of $421,200.00. Following the sale, the chief financial officer now directly owns 67,141 shares in the company, valued at approximately $2,827,978.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $45.94, for a total value of $183,760.00. Following the transaction, the chief executive officer now directly owns 495,781 shares of the company’s stock, valued at approximately $22,776,179.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shai Shahar sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.12, for a total value of $421,200.00. Following the completion of the transaction, the chief financial officer now directly owns 67,141 shares in the company, valued at $2,827,978.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,000 shares of company stock worth $1,398,580. Company insiders own 0.96% of the company’s stock.

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.