DA Davidson Issues Negative Estimate for FormFactor Earnings

FormFactor, Inc. (NASDAQ:FORM) – Stock analysts at DA Davidson cut their FY2024 earnings estimates for FormFactor in a research note issued to investors on Thursday, October 31st. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will post earnings of $0.75 per share for the year, down from their prior estimate of $0.83. DA Davidson has a “Buy” rating and a $62.00 price target 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) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $197.47 million for the quarter, compared to analysts’ expectations of $195.01 million. FormFactor had a return on equity of 5.42% and a net margin of 18.29%.

Several other equities research analysts have also commented on FORM. Needham & Company LLC decreased their price objective on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus upped their price target on shares of FormFactor from $50.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. TD Cowen dropped their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday. Finally, StockNews.com lowered FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $55.38.

FormFactor Stock Up 2.0 %

FORM opened at $38.75 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 4.46. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 22.27 and a beta of 1.11. FormFactor has a one year low of $32.16 and a one year high of $63.63. The business’s fifty day moving average is $44.84 and its two-hundred day moving average is $50.50.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the business’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 value of $185,240.00. Following the completion of the sale, the chief executive officer now directly owns 534,276 shares in the company, valued at approximately $24,742,321.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jorge Titinger sold 6,770 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total value of $283,933.80. Following the transaction, the director now directly owns 12,970 shares in the company, valued at $543,961.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total value of $185,240.00. Following the sale, the chief executive officer now owns 534,276 shares of the company’s stock, valued at $24,742,321.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,770 shares of company stock worth $650,294 in the last three months. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. raised its stake in shares of FormFactor by 7.0% in the 1st quarter. Bessemer Group Inc. now owns 262,463 shares of the semiconductor company’s stock valued at $11,976,000 after acquiring an additional 17,079 shares during the period. UniSuper Management Pty Ltd acquired a new stake in FormFactor in the 1st quarter valued at $664,000. Russell Investments Group Ltd. raised its position in FormFactor by 16.2% in the first quarter. Russell Investments Group Ltd. now owns 113,083 shares of the semiconductor company’s stock valued at $5,160,000 after purchasing an additional 15,756 shares during the period. GSA Capital Partners LLP acquired a new position in shares of FormFactor during the first quarter worth about $1,030,000. Finally, Sei Investments Co. boosted its position in shares of FormFactor by 5.4% in the first quarter. Sei Investments Co. now owns 1,493,665 shares of the semiconductor company’s stock worth $68,156,000 after buying an additional 76,032 shares during the period. 98.76% of the stock is owned by institutional investors and hedge funds.

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.