$140.18 Million in Sales Expected for FormFactor, Inc. (FORM) This Quarter
Equities research analysts expect FormFactor, Inc. (NASDAQ:FORM) to report sales of $140.18 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for FormFactor’s earnings. The lowest sales estimate is $139.70 million and the highest is $140.50 million. FormFactor reported sales of $123.30 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.7%. The company is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, October 31st.
According to Zacks, analysts expect that FormFactor will report full-year sales of $140.18 million for the current year, with estimates ranging from $542.80 million to $546.70 million. For the next year, analysts expect that the business will report sales of $572.85 million per share, with estimates ranging from $563.70 million to $580.70 million. Zacks’ sales averages are an average based on a survey of research firms 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, beating the Zacks’ consensus estimate of $0.28 by $0.12. FormFactor had a positive return on equity of 15.62% and a negative net margin of 1.32%. The company had revenue of $144.00 million during the quarter, compared to the consensus estimate of $134.53 million. During the same period in the previous year, the company posted $0.13 earnings per share. FormFactor’s revenue for the quarter was up 73.3% on a year-over-year basis.
Several equities research analysts recently weighed in on FORM shares. Zacks Investment Research upgraded shares of FormFactor from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Wednesday, August 9th. BidaskClub cut shares of FormFactor from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. B. Riley restated a “buy” rating and set a $20.00 price target on shares of FormFactor in a research note on Tuesday, August 8th. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of FormFactor in a research note on Tuesday, September 12th. Finally, DA Davidson restated a “buy” rating and set a $20.00 price target on shares of FormFactor in a research note on Thursday, August 31st. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. FormFactor has an average rating of “Buy” and an average target price of $17.43.
Shares of FormFactor (NASDAQ:FORM) traded down 1.13% during mid-day trading on Friday, hitting $17.45. The company had a trading volume of 300,678 shares. FormFactor has a 12 month low of $8.55 and a 12 month high of $17.90. The firm’s market capitalization is $1.27 billion. The firm has a 50-day moving average price of $16.41 and a 200 day moving average price of $13.97.
In related news, CFO Michael M. Ludwig sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $14.21, for a total value of $426,300.00. Following the completion of the sale, the chief financial officer now owns 262,847 shares of the company’s stock, valued at $3,735,055.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael W. Zellner sold 3,725 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $15.26, for a total transaction of $56,843.50. Following the completion of the sale, the director now directly owns 63,000 shares of the company’s stock, valued at approximately $961,380. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,725 shares of company stock valued at $623,844. Company insiders own 2.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gotham Asset Management LLC acquired a new stake in FormFactor during the 2nd quarter worth $140,000. Great West Life Assurance Co. Can grew its holdings in FormFactor by 214.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 12,462 shares of the semiconductor company’s stock worth $154,000 after acquiring an additional 8,505 shares during the period. Tudor Investment Corp ET AL acquired a new stake in FormFactor during the 1st quarter worth $160,000. Quantbot Technologies LP grew its holdings in FormFactor by 3,136.6% during the 2nd quarter. Quantbot Technologies LP now owns 14,662 shares of the semiconductor company’s stock worth $181,000 after acquiring an additional 14,209 shares during the period. Finally, Bourgeon Capital Management LLC grew its holdings in FormFactor by 50.0% during the 2nd quarter. Bourgeon Capital Management LLC now owns 15,000 shares of the semiconductor company’s stock worth $186,000 after acquiring an additional 5,000 shares during the period. 86.55% of the stock is owned by hedge funds and other institutional investors.
FormFactor Company Profile
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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