FormFactor (NASDAQ:FORM) Releases Q3 Earnings Guidance

FormFactor (NASDAQ:FORM) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.30 to $0.38 for the period, compared to the Thomson Reuters consensus estimate of $0.28. The company issued revenue guidance of $170 million to $182 million, compared to the consensus revenue estimate of $158.77 million.FormFactor also updated its Q3 2020
After-Hours guidance to 0.30-0.38 EPS.

FORM traded down $2.01 during mid-day trading on Friday, hitting $28.84. The stock had a trading volume of 1,404,313 shares, compared to its average volume of 547,393. The stock’s fifty day simple moving average is $29.82 and its 200-day simple moving average is $25.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.63 and a quick ratio of 2.96. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 35.60 and a beta of 1.40. FormFactor has a 1-year low of $16.25 and a 1-year high of $33.07.

FormFactor (NASDAQ:FORM) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.05. The company had revenue of $157.82 million for the quarter, compared to analyst estimates of $159.00 million. FormFactor had a net margin of 9.92% and a return on equity of 13.09%. As a group, research analysts expect that FormFactor will post 0.96 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on FORM shares. Needham & Company LLC reiterated a hold rating on shares of FormFactor in a report on Friday. BidaskClub upgraded shares of FormFactor from a buy rating to a strong-buy rating in a report on Thursday, June 18th. B. Riley raised their price objective on shares of FormFactor from $40.00 to $45.00 in a report on Friday. Sidoti raised their price objective on shares of FormFactor from $28.00 to $32.00 and gave the stock a buy rating in a report on Thursday, June 4th. Finally, DA Davidson upgraded shares of FormFactor from a neutral rating to a buy rating and raised their price objective for the stock from $25.00 to $30.00 in a report on Monday, June 1st. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. FormFactor currently has a consensus rating of Buy and an average target price of $30.30.

In related news, Director Sheri Rhodes sold 2,010 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $31.90, for a total value of $64,119.00. Following the completion of the transaction, the director now owns 2,009 shares of the company’s stock, valued at $64,087.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis Thomas St sold 6,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.78, for a total transaction of $148,680.00. Following the completion of the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $743,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,121 shares of company stock valued at $1,061,110. 1.22% of the stock is owned by insiders.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and 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.

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Earnings History and Estimates for FormFactor (NASDAQ:FORM)

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