FormFactor Inc. (NASDAQ:FORM) released its earnings results on Thursday. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.07. FormFactor had a return on equity of 4.19% and a net margin of 2.49%. The business earned $123.30 million during the quarter, compared to the consensus estimate of $122.70 million. During the same period last year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 87.2% on a year-over-year basis. FormFactor updated its Q4 guidance to $0.15-0.21 EPS.
Shares of FormFactor (NASDAQ:FORM) opened at 9.21 on Monday. The company’s 50-day moving average price is $10.25 and its 200 day moving average price is $9.11. FormFactor has a 1-year low of $6.15 and a 1-year high of $11.19. The company has a market cap of $649.90 million, a price-to-earnings ratio of 27.33 and a beta of 0.95.
A number of research firms have recently commented on FORM. Zacks Investment Research lowered FormFactor from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 4th. Citigroup Inc. raised their price target on FormFactor from $8.25 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. B. Riley reaffirmed a “buy” rating and issued a $12.50 price target on shares of FormFactor in a report on Friday. TheStreet raised FormFactor from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target (up from $11.00) on shares of FormFactor in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.08.
In other news, Director Richard Delateur sold 10,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $10.74, for a total transaction of $107,400.00. Following the completion of the sale, the director now owns 22,000 shares of the company’s stock, valued at $236,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis Thomas St sold 23,120 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $10.51, for a total transaction of $242,991.20. Following the sale, the director now directly owns 164,933 shares of the company’s stock, valued at approximately $1,733,445.83. The disclosure for this sale can be found here. Insiders own 2.84% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FORM. Legal & General Group Plc raised its position in FormFactor by 11.5% in the second quarter. Legal & General Group Plc now owns 11,805 shares of the company’s stock worth $105,000 after buying an additional 1,222 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in FormFactor during the first quarter worth $106,000. BlackRock Inc. raised its position in FormFactor by 220.5% in the second quarter. BlackRock Inc. now owns 12,295 shares of the company’s stock worth $110,000 after buying an additional 8,459 shares during the last quarter. CNH Partners LLC acquired a new position in FormFactor during the second quarter worth $136,000. Finally, Stevens Capital Management LP acquired a new position in FormFactor during the second quarter worth $165,000. 89.13% of the stock is owned by institutional investors and hedge funds.
FormFactor Company Profile