FormFactor (NASDAQ:FORM) Issues Quarterly Earnings Results

FormFactor (NASDAQ:FORM) issued its earnings results on Wednesday. The semiconductor company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11, FiscalAI reports. The firm had revenue of $215.16 million during the quarter, compared to analyst estimates of $210.29 million. FormFactor had a net margin of 5.38% and a return on equity of 5.10%.

FormFactor Stock Down 4.4%

FORM traded down $3.30 on Wednesday, hitting $71.39. The company had a trading volume of 1,688,269 shares, compared to its average volume of 1,518,492. The stock has a fifty day simple moving average of $63.76 and a 200-day simple moving average of $47.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.30 and a quick ratio of 3.46. The firm has a market capitalization of $5.53 billion, a P/E ratio of 137.29 and a beta of 1.11. FormFactor has a 52-week low of $22.58 and a 52-week high of $85.49.

Insider Transactions at FormFactor

In other news, Director Dennis Thomas St sold 2,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $49.85, for a total value of $99,700.00. Following the sale, the director directly owned 38,957 shares of the company’s stock, valued at $1,942,006.45. This represents a 4.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mike Slessor sold 39,606 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $65.00, for a total transaction of $2,574,390.00. Following the completion of the transaction, the chief executive officer owned 485,995 shares of the company’s stock, valued at approximately $31,589,675. The trade was a 7.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 73,466 shares of company stock valued at $4,683,377. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

A number of institutional investors and hedge funds have recently made changes to their positions in FORM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in FormFactor by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,072 shares of the semiconductor company’s stock valued at $1,303,000 after buying an additional 2,001 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of FormFactor by 870.3% during the first quarter. Jones Financial Companies Lllp now owns 5,288 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 4,743 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of FormFactor by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 490,394 shares of the semiconductor company’s stock worth $13,873,000 after purchasing an additional 53,310 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in FormFactor by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,979 shares of the semiconductor company’s stock worth $4,922,000 after purchasing an additional 9,394 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in FormFactor by 18.1% during the 1st quarter. Intech Investment Management LLC now owns 53,531 shares of the semiconductor company’s stock valued at $1,514,000 after purchasing an additional 8,194 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

Analyst Upgrades and Downgrades

FORM has been the topic of several recent research reports. Citigroup increased their target price on FormFactor from $62.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Loop Capital set a $64.00 target price on shares of FormFactor in a research report on Tuesday, January 27th. Weiss Ratings reissued a “hold (c)” rating on shares of FormFactor in a research note on Thursday, January 22nd. Freedom Capital upgraded FormFactor to a “hold” rating in a report on Tuesday, January 27th. Finally, TD Cowen restated a “hold” rating on shares of FormFactor in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

FormFactor Company Profile

FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.