Q3 2024 EPS Estimates for FormFactor, Inc. Increased by Analyst (NASDAQ:FORM)

FormFactor, Inc. (NASDAQ:FORM) – Zacks Research lifted their Q3 2024 earnings estimates for FormFactor in a research report issued to clients and investors on Tuesday, October 8th. Zacks Research analyst R. Department now expects that the semiconductor company will earn $0.18 per share for the quarter, up from their previous forecast of $0.17. The consensus estimate for FormFactor’s current full-year earnings is $0.74 per share. Zacks Research also issued estimates for FormFactor’s FY2024 earnings at $0.67 EPS, Q1 2025 earnings at $0.20 EPS, FY2025 earnings at $0.99 EPS and Q1 2026 earnings at $0.09 EPS.

FormFactor (NASDAQ:FORM) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. The firm had revenue of $197.47 million for the quarter, compared to analyst estimates of $195.01 million.

Other research analysts have also recently issued reports about the stock. TD Cowen increased their price objective on shares of FormFactor from $48.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of FormFactor in a report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. DA Davidson raised their target price on shares of FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, B. Riley raised their target price on shares of FormFactor from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.63.

FormFactor Price Performance

Shares of NASDAQ:FORM opened at $47.49 on Thursday. The firm’s 50 day moving average is $45.67 and its two-hundred day moving average is $50.70. FormFactor has a 52 week low of $31.51 and a 52 week high of $63.63. The firm has a market capitalization of $3.67 billion, a P/E ratio of 35.98 and a beta of 1.11. The company has a current ratio of 4.46, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In other FormFactor news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total value of $283,933.80. Following the completion of the sale, the director now owns 12,970 shares in the company, valued at $543,961.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FormFactor news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total value of $283,933.80. Following the completion of the sale, the director now owns 12,970 shares in the company, valued at $543,961.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.93, for a total transaction of $203,720.00. Following the completion of the sale, the chief executive officer now owns 523,187 shares of the company’s stock, valued at approximately $26,645,913.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,770 shares of company stock valued at $854,014. 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 modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of FormFactor by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,622,484 shares of the semiconductor company’s stock valued at $439,074,000 after purchasing an additional 154,361 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of FormFactor by 0.6% during the 1st quarter. Earnest Partners LLC now owns 6,091,217 shares of the semiconductor company’s stock valued at $277,942,000 after purchasing an additional 37,781 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of FormFactor by 7.2% during the 1st quarter. Hood River Capital Management LLC now owns 2,079,052 shares of the semiconductor company’s stock valued at $94,867,000 after purchasing an additional 140,223 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of FormFactor by 81.1% during the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock valued at $80,387,000 after purchasing an additional 862,885 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in 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 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.