FormFactor, Inc. (FORM) Expected to Post Quarterly Sales of $134.28 Million

Analysts expect FormFactor, Inc. (NASDAQ:FORM) to post $134.28 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for FormFactor’s earnings, with the highest sales estimate coming in at $135.11 million and the lowest estimate coming in at $134.00 million. FormFactor reported sales of $83.08 million in the same quarter last year, which would indicate a positive year over year growth rate of 61.6%. The business is expected to announce its next earnings results on Tuesday, August 1st.

On average, analysts expect that FormFactor will report full year sales of $134.28 million for the current fiscal year, with estimates ranging from $517.80 million to $525.00 million. For the next year, analysts anticipate that the company will report sales of $543.44 million per share, with estimates ranging from $535.00 million to $550.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for FormFactor.

FormFactor (NASDAQ:FORM) last announced its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The firm had revenue of $128.80 million during the quarter, compared to analysts’ expectations of $124.07 million. FormFactor had a return on equity of 11.02% and a net margin of 2.71%. The company’s quarterly revenue was up 140.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) EPS.

FORM has been the topic of a number of recent analyst reports. TheStreet downgraded FormFactor from a “b-” rating to a “c+” rating in a research report on Friday, February 24th. Sidoti initiated coverage on FormFactor in a research report on Friday, March 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Zacks Investment Research downgraded FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of FormFactor in a research report on Monday, May 1st. Finally, B. Riley reiterated a “buy” rating and issued a $17.00 price objective on shares of FormFactor in a research report on Thursday, May 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $15.63.

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In related news, Director Dennis Thomas St sold 285,333 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $14.61, for a total value of $4,168,715.13. Following the transaction, the director now owns 40,666 shares of the company’s stock, valued at $594,130.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Delateur sold 45,262 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $14.08, for a total value of $637,288.96. Following the completion of the transaction, the director now directly owns 55,262 shares in the company, valued at approximately $778,088.96. The disclosure for this sale can be found here. In the last three months, insiders sold 479,083 shares of company stock worth $6,853,928. 2.84% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in FormFactor by 4.4% in the first quarter. Vanguard Group Inc. now owns 5,718,078 shares of the semiconductor company’s stock worth $67,759,000 after buying an additional 240,637 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in FormFactor by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,382,642 shares of the semiconductor company’s stock worth $63,783,000 after buying an additional 107,736 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in FormFactor by 3.1% in the first quarter. Frontier Capital Management Co. LLC now owns 2,978,099 shares of the semiconductor company’s stock worth $35,290,000 after buying an additional 89,638 shares in the last quarter. Victory Capital Management Inc. boosted its position in FormFactor by 1,415.9% in the first quarter. Victory Capital Management Inc. now owns 2,003,210 shares of the semiconductor company’s stock worth $23,738,000 after buying an additional 1,871,060 shares in the last quarter. Finally, Royce & Associates LP boosted its position in FormFactor by 1.6% in the first quarter. Royce & Associates LP now owns 1,647,045 shares of the semiconductor company’s stock worth $19,517,000 after buying an additional 26,000 shares in the last quarter. 87.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of FormFactor (NASDAQ FORM) traded down 2.67% during trading on Thursday, hitting $12.75. The stock had a trading volume of 245,661 shares. The company has a market cap of $919.54 million, a PE ratio of 70.05 and a beta of 1.59. FormFactor has a 1-year low of $8.31 and a 1-year high of $15.58. The firm’s 50 day moving average is $13.88 and its 200 day moving average is $12.09.

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.

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