Brokerages Expect FormFactor, Inc. (FORM) Will Announce Quarterly Sales of $130.25 Million

Wall Street brokerages expect FormFactor, Inc. (NASDAQ:FORM) to post sales of $130.25 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for FormFactor’s earnings. The lowest sales estimate is $129.00 million and the highest is $131.00 million. FormFactor reported sales of $118.29 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.1%. The firm is expected to report its next quarterly earnings results on Wednesday, May 1st.

According to Zacks, analysts expect that FormFactor will report full-year sales of $548.75 million for the current year, with estimates ranging from $543.00 million to $551.00 million. For the next year, analysts anticipate that the company will post sales of $598.57 million, with estimates ranging from $575.00 million to $615.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover FormFactor.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, February 6th. The semiconductor company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.05. FormFactor had a net margin of 19.64% and a return on equity of 11.59%. The business had revenue of $140.90 million during the quarter, compared to analysts’ expectations of $135.93 million. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year.

FORM has been the subject of a number of research reports. Sidoti cut shares of FormFactor from a “buy” rating to a “neutral” rating in a research note on Monday, December 3rd. BidaskClub cut shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Saturday, December 8th. ValuEngine cut shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Zacks Investment Research cut shares of FormFactor from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. Finally, Craig Hallum cut shares of FormFactor from a “buy” rating to a “hold” rating and upped their price objective for the company from $16.00 to $17.00 in a research note on Thursday, February 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.08.

In other news, Director Kelley Steven-Waiss sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $15.50, for a total value of $108,500.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $186,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Thomas St sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $15.99, for a total transaction of $127,920.00. Following the completion of the sale, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $719,550. The disclosure for this sale can be found here. Insiders sold a total of 16,200 shares of company stock valued at $254,924 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund raised its holdings in FormFactor by 4.3% during the 4th quarter. Texas Permanent School Fund now owns 48,491 shares of the semiconductor company’s stock valued at $683,000 after buying an additional 2,017 shares during the last quarter. BlackRock Inc. raised its holdings in FormFactor by 1.7% during the 4th quarter. BlackRock Inc. now owns 10,999,192 shares of the semiconductor company’s stock valued at $154,977,000 after buying an additional 182,059 shares during the last quarter. Vanguard Group Inc raised its holdings in FormFactor by 8.7% during the 3rd quarter. Vanguard Group Inc now owns 7,472,866 shares of the semiconductor company’s stock valued at $102,751,000 after buying an additional 600,660 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in FormFactor by 6.7% during the 4th quarter. Peregrine Capital Management LLC now owns 1,761,303 shares of the semiconductor company’s stock valued at $24,817,000 after buying an additional 110,082 shares during the last quarter. Finally, Magnus Financial Group LLC bought a new stake in FormFactor during the 4th quarter valued at $328,000. 95.11% of the stock is owned by institutional investors.

FORM stock opened at $16.09 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.30 and a quick ratio of 2.54. FormFactor has a one year low of $11.10 and a one year high of $16.83. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 1.96 and a beta of 1.64.

FormFactor Company Profile

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and Systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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