FormFactor (NASDAQ:FORM) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05, MarketWatch Earnings reports. The business had revenue of $157.82 million for the quarter, compared to analysts’ expectations of $159.00 million. FormFactor had a return on equity of 13.09% and a net margin of 9.92%. FormFactor updated its Q3 2020
After-Hours guidance to 0.30-0.38 EPS and its Q3 guidance to $0.30 to $0.38 EPS.
NASDAQ:FORM opened at $28.84 on Friday. FormFactor has a fifty-two week low of $16.25 and a fifty-two week high of $33.07. 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 stock has a market capitalization of $2.20 billion, a PE ratio of 35.60 and a beta of 1.40. The business’s 50-day simple moving average is $29.82 and its 200-day simple moving average is $25.14.
Several equities analysts recently issued reports on the company. Stifel Nicolaus upgraded FormFactor to a “positive” rating in a report on Thursday, July 2nd. Cowen raised their price target on FormFactor from $24.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, July 2nd. Needham & Company LLC restated a “hold” rating on shares of FormFactor in a report on Friday. Sidoti raised their target price on FormFactor from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, B. Riley raised their target price on FormFactor from $40.00 to $45.00 in a report on Friday. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. FormFactor presently has an average rating of “Buy” and a consensus price target of $30.30.
In related news, Director Dennis Thomas St sold 6,000 shares of FormFactor stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $24.78, for a total value of $148,680.00. Following the sale, the director now owns 30,000 shares of the company’s stock, valued at approximately $743,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sheri Rhodes sold 2,010 shares of FormFactor stock in a transaction that occurred 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 sale, the director now directly owns 2,009 shares in the company, valued at approximately $64,087.10. The disclosure for this sale can be found here. Insiders have sold a total of 42,121 shares of company stock worth $1,061,110 in the last quarter. 1.22% of the stock is currently owned by company insiders.
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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