FormFactor, Inc. (NASDAQ:FORM) to Post FY2024 Earnings of $0.84 Per Share, DA Davidson Forecasts

FormFactor, Inc. (NASDAQ:FORM) – Stock analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for FormFactor in a research report issued on Thursday, August 1st. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will post earnings per share of $0.84 for the year, down from their prior estimate of $0.94. 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 $0.72 per share.

Several other research firms also recently issued reports on FORM. TD Cowen lifted their price target on 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 reaffirmed a “buy” rating and set a $70.00 price target on shares of FormFactor in a research note on Thursday, August 1st. B. Riley lifted their price target on FormFactor from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus lifted their price target on FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, July 16th. Finally, Citigroup lifted their price target on FormFactor from $37.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, FormFactor presently has an average rating of “Moderate Buy” and an average target price of $59.63.

FormFactor Trading Up 1.9 %

NASDAQ:FORM opened at $42.05 on Monday. The company has a market capitalization of $3.25 billion, a PE ratio of 31.86 and a beta of 1.12. The company has a quick ratio of 3.67, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. FormFactor has a 52-week low of $29.50 and a 52-week high of $63.63. The stock has a fifty day simple moving average of $56.48 and a 200-day simple moving average of $49.52.

Institutional Trading of FormFactor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FORM. Wellington Management Group LLP grew its holdings in FormFactor by 81.1% in the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock valued at $80,387,000 after buying an additional 862,885 shares during the period. Bank of New York Mellon Corp grew its holdings in FormFactor by 91.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,282,611 shares of the semiconductor company’s stock valued at $77,636,000 after buying an additional 612,838 shares during the period. Norges Bank purchased a new stake in FormFactor in the 4th quarter valued at about $21,454,000. TimesSquare Capital Management LLC purchased a new stake in shares of FormFactor during the 4th quarter worth about $15,484,000. Finally, Vanguard Group Inc. grew its holdings in shares of FormFactor by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,622,484 shares of the semiconductor company’s stock worth $439,074,000 after purchasing an additional 154,361 shares during the period. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Insider Activity at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.93, for a total value of $203,720.00. Following the completion of the transaction, the chief executive officer now owns 523,187 shares of the company’s stock, valued at approximately $26,645,913.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction dated 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 owns 523,187 shares in the company, valued at approximately $26,645,913.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian C. White sold 3,290 shares of FormFactor stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $57.00, for a total value of $187,530.00. Following the completion of the sale, the director now owns 11,828 shares of the company’s stock, valued at approximately $674,196. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,123 shares of company stock valued at $1,018,182. 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.