FY2024 EPS Estimates for FormFactor Decreased by DA Davidson

FormFactor, Inc. (NASDAQ:FORM) – DA Davidson reduced their FY2024 earnings per share (EPS) estimates for FormFactor in a note issued to investors on Thursday, October 31st. DA Davidson analyst T. Diffely now expects that the semiconductor company will post earnings of $0.75 per share for the year, down from their prior forecast of $0.83. DA Davidson has a “Buy” rating and a $62.00 price objective 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.

FORM has been the topic of several other reports. Needham & Company LLC cut their target price on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday. TD Cowen reduced their price objective on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus upped their price target on FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.38.

FormFactor Stock Up 2.0 %

Shares of NASDAQ:FORM opened at $38.75 on Friday. The firm has a market capitalization of $3.00 billion, a PE ratio of 22.27 and a beta of 1.11. FormFactor has a 1 year low of $32.16 and a 1 year high of $63.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64. The firm’s 50-day moving average is $44.84 and its two-hundred day moving average is $50.50.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm had revenue of $197.47 million for the quarter, compared to analyst estimates of $195.01 million. FormFactor had a return on equity of 5.42% and a net margin of 18.29%.

Institutional Investors Weigh In On FormFactor

Institutional investors and hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. increased its position in 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 shares of FormFactor during the first quarter worth $664,000. Russell Investments Group Ltd. grew its position in FormFactor by 16.2% in the 1st quarter. Russell Investments Group Ltd. now owns 113,083 shares of the semiconductor company’s stock valued at $5,160,000 after buying an additional 15,756 shares during the last quarter. GSA Capital Partners LLP acquired a new position in FormFactor in the 1st quarter valued at $1,030,000. Finally, Sei Investments Co. raised its position in FormFactor by 5.4% during the 1st 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 last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FormFactor

In related news, Director Jorge Titinger sold 6,770 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total value of $283,933.80. Following the completion of the transaction, the director now directly owns 12,970 shares of the company’s stock, valued at $543,961.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $45.28, for a total value of $181,120.00. Following the completion of the sale, the chief executive officer now owns 530,276 shares in the company, valued at approximately $24,010,897.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total transaction of $283,933.80. Following the completion of the transaction, the director now directly owns 12,970 shares in the company, valued at $543,961.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,770 shares of company stock valued at $650,294. Corporate insiders own 0.96% of the company’s stock.

FormFactor Company Profile

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.