FormFactor, Inc. (FORM) Issues Q4 Earnings Guidance

FormFactor, Inc. (NASDAQ:FORM) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.24 to $0.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.25. The company issued revenue guidance of $126 million to $134 million, compared to the consensus revenue estimate of $132.33 million.

Several equities research analysts have recently commented on the company. B. Riley FBR, Inc. boosted their price objective on FormFactor from $20.00 to $22.00 and gave the company a buy rating in a report on Wednesday. Needham & Company LLC restated a buy rating and set a $18.00 price objective on shares of FormFactor in a report on Friday, October 27th. DA Davidson restated a buy rating and set a $20.00 price objective on shares of FormFactor in a report on Thursday, August 31st. Zacks Investment Research upgraded FormFactor from a hold rating to a strong-buy rating and set a $16.00 price objective for the company in a report on Wednesday, August 9th. Finally, B. Riley restated a buy rating and set a $20.00 price objective on shares of FormFactor in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $18.00.

Shares of FormFactor, Inc. (FORM) traded down 10.44% during midday trading on Wednesday, reaching $16.30. The company had a trading volume of 2,243,457 shares. The company’s market capitalization is $1.18 billion. The company has a 50-day moving average price of $16.88 and a 200 day moving average price of $14.32. FormFactor, Inc. has a one year low of $8.60 and a one year high of $18.43.

FormFactor (NASDAQ:FORM) last posted its earnings results on Tuesday, October 31st. The semiconductor company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. The business had revenue of $143.74 million during the quarter, compared to analyst estimates of $140.83 million. FormFactor had a positive return on equity of 15.62% and a negative net margin of 1.32%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. Equities analysts anticipate that FormFactor, Inc. will post $1.22 earnings per share for the current fiscal year.

In other FormFactor news, CFO Michael M. Ludwig sold 10,000 shares of FormFactor stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $14.07, for a total value of $140,700.00. Following the completion of the sale, the chief financial officer now owns 267,977 shares of the company’s stock, valued at approximately $3,770,436.39. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael W. Zellner sold 3,725 shares of FormFactor stock in a transaction on Friday, September 1st. The stock was sold at an average price of $15.26, for a total value of $56,843.50. Following the completion of the sale, the director now directly owns 63,000 shares of the company’s stock, valued at approximately $961,380. The disclosure for this sale can be found here. In the last three months, insiders sold 43,725 shares of company stock valued at $623,844. Corporate insiders own 2.30% of the company’s stock.

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FormFactor Company Profile

FormFactor, Inc is a provider of test and measurement solutions. The Company’s segments include the Probe Cards segment and Systems segment. The Company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, reliability test systems, and related services.

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