FormFactor, Inc. (FORM) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

FormFactor, Inc. (NASDAQ:FORM) announced its quarterly earnings data on Tuesday. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02, Bloomberg Earnings reports. FormFactor had a net margin of 3.68% and a return on equity of 17.18%. The company had revenue of $143.74 million during the quarter, compared to analysts’ expectations of $140.83 million. During the same period in the previous year, the company earned $0.22 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. FormFactor updated its Q4 guidance to $0.24 to $0.30 EPS.

Several analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of FormFactor in a research note on Thursday. Citigroup Inc. boosted their price objective on shares of FormFactor from $16.00 to $17.40 and gave the company a “neutral” rating in a research note on Thursday. B. Riley FBR, Inc. boosted their price objective on shares of FormFactor from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of FormFactor in a research note on Friday, October 27th. Finally, DA Davidson reissued a “buy” rating and set a $20.00 price objective on shares of FormFactor in a research note on Thursday, August 31st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $18.55.

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In other news, CFO Michael M. Ludwig sold 30,000 shares of FormFactor stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $14.21, for a total value of $426,300.00. Following the sale, the chief financial officer now directly owns 262,847 shares in the company, valued at $3,735,055.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael W. Zellner sold 3,725 shares of FormFactor stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $15.26, for a total transaction of $56,843.50. Following the completion of the sale, the director now owns 63,000 shares in the company, valued at $961,380. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,725 shares of company stock worth $623,844. Insiders own 2.30% of the company’s stock.

About FormFactor

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.

Earnings History for FormFactor (NASDAQ:FORM)

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