FormFactor, Inc. (FORM) Expected to Post Quarterly Sales of $133.36 Million
Equities research analysts expect that FormFactor, Inc. (NASDAQ:FORM) will announce sales of $133.36 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for FormFactor’s earnings, with estimates ranging from $130.00 million to $135.60 million. FormFactor reported sales of $123.30 million during the same quarter last year, which indicates a positive year-over-year growth rate of 8.2%. The firm is expected to issue its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that FormFactor will report full year sales of $133.36 million for the current fiscal year, with estimates ranging from $517.80 million to $525.00 million. For the next fiscal year, analysts expect that the business will post sales of $543.83 million per share, with estimates ranging from $535.00 million to $550.80 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for FormFactor.
FormFactor (NASDAQ:FORM) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.12. The business had revenue of $144 million for the quarter, compared to analyst estimates of $134.53 million. FormFactor had a positive return on equity of 15.85% and a negative net margin of 1.32%. The company’s quarterly revenue was up 73.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share.
FORM has been the topic of a number of research analyst reports. TheStreet upgraded FormFactor from a “c+” rating to a “b-” rating in a report on Thursday, May 11th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of FormFactor in a report on Monday, May 1st. Zacks Investment Research upgraded FormFactor from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, May 8th. BidaskClub downgraded FormFactor from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Finally, ValuEngine upgraded FormFactor from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $16.38.
In other news, Director Dennis Thomas St sold 285,333 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $14.61, for a total value of $4,168,715.13. Following the sale, the director now directly owns 40,666 shares of the company’s stock, valued at approximately $594,130.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard Delateur sold 45,262 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $14.08, for a total value of $637,288.96. Following the completion of the sale, the director now directly owns 55,262 shares in the company, valued at $778,088.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 399,083 shares of company stock worth $5,749,928. Insiders own 2.84% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of FormFactor by 4.4% in the first quarter. Vanguard Group Inc. now owns 5,718,078 shares of the semiconductor company’s stock worth $67,759,000 after buying an additional 240,637 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of FormFactor by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,382,642 shares of the semiconductor company’s stock worth $63,783,000 after buying an additional 107,736 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of FormFactor by 3.1% in the first quarter. Frontier Capital Management Co. LLC now owns 2,978,099 shares of the semiconductor company’s stock worth $35,290,000 after buying an additional 89,638 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of FormFactor by 1,415.9% in the first quarter. Victory Capital Management Inc. now owns 2,003,210 shares of the semiconductor company’s stock worth $23,738,000 after buying an additional 1,871,060 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in shares of FormFactor by 1.6% in the first quarter. Royce & Associates LP now owns 1,647,045 shares of the semiconductor company’s stock worth $19,517,000 after buying an additional 26,000 shares in the last quarter. 89.36% of the stock is currently owned by hedge funds and other institutional investors.
FormFactor (FORM) opened at 13.55 on Monday. FormFactor has a one year low of $8.55 and a one year high of $15.58. The firm has a 50-day moving average price of $12.96 and a 200 day moving average price of $12.42. The company’s market cap is $978.30 million.
FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.
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