FormFactor (NASDAQ:FORM) Issues Q4 Earnings Guidance

FormFactor (NASDAQ:FORM) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.25-$0.33 for the period, compared to the consensus earnings per share estimate of $0.34. The company issued revenue guidance of $185-$195 million, compared to the consensus revenue estimate of $199.60 million.

FormFactor Stock Down 3.0 %

FormFactor stock traded down $1.36 on Wednesday, hitting $43.81. 560,542 shares of the stock traded hands, compared to its average volume of 567,870. The business’s fifty day simple moving average is $45.46 and its 200 day simple moving average is $50.68. The firm has a market cap of $3.38 billion, a P/E ratio of 33.10 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. FormFactor has a 1 year low of $32.16 and a 1 year high of $63.63.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $197.47 million during the quarter, compared to analysts’ expectations of $195.01 million. FormFactor had a net margin of 17.20% and a return on equity of 4.18%. As a group, sell-side analysts forecast that FormFactor will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com downgraded FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. TD Cowen upped their price target on shares of FormFactor from $48.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of FormFactor in a research note on Thursday, August 1st. Stifel Nicolaus upped their target price on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, July 16th. Finally, DA Davidson raised their price target on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, FormFactor presently has a consensus rating of “Hold” and a consensus target price of $59.63.

Insider Activity at FormFactor

In related news, Director Jorge Titinger sold 6,770 shares of the firm’s 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 transaction, the director now owns 12,970 shares of the company’s stock, valued at approximately $543,961.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.93, for a total value of $203,720.00. Following the completion of the sale, the chief executive officer now directly owns 523,187 shares in the company, valued at $26,645,913.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 value of $283,933.80. Following the transaction, the director now owns 12,970 shares in the company, valued at $543,961.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,770 shares of company stock worth $854,014. 0.96% of the stock is owned by insiders.

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.