FormFactor, Inc. (NASDAQ:FORM) to Post FY2024 Earnings of $0.84 Per Share, DA Davidson Forecasts

FormFactor, Inc. (NASDAQ:FORM) – Stock analysts at DA Davidson reduced their FY2024 earnings per share estimates for FormFactor in a research report issued on Thursday, August 1st. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will post earnings per share of $0.84 for the year, down from their previous estimate of $0.94. DA Davidson has a “Buy” rating and a $62.00 price target on the stock. The consensus estimate for FormFactor’s current full-year earnings is $0.72 per share.

Several other research firms have also weighed in on FORM. Evercore ISI started coverage on FormFactor in a report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price target on the stock. Citigroup raised their target price on shares of FormFactor from $37.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. TD Cowen raised their target price on shares of FormFactor from $48.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. B. Riley raised their target price on shares of FormFactor from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, StockNews.com upgraded shares of FormFactor from a “hold” rating to a “buy” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.63.

FormFactor Price Performance

NASDAQ:FORM opened at $42.05 on Monday. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 31.86 and a beta of 1.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.67. The business has a 50 day simple moving average of $56.48 and a 200-day simple moving average of $49.52. FormFactor has a 1 year low of $29.50 and a 1 year high of $63.63.

Insider Activity at FormFactor

In related news, Director Dennis Thomas St sold 2,000 shares of FormFactor stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.30, for a total transaction of $112,600.00. Following the completion of the sale, the director now owns 36,701 shares in the company, valued at approximately $2,066,266.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Dennis Thomas St sold 2,000 shares of FormFactor stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.30, for a total transaction of $112,600.00. Following the completion of the sale, the director now owns 36,701 shares in the company, valued at approximately $2,066,266.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rebeca Obregon-Jimenez sold 4,833 shares of FormFactor stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $57.59, for a total transaction of $278,332.47. Following the sale, the director now owns 10,598 shares of the company’s stock, valued at approximately $610,338.82. The disclosure for this sale can be found here. Insiders sold 18,123 shares of company stock worth $1,018,182 in the last 90 days. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in shares of FormFactor in the 1st quarter valued at about $28,000. Innealta Capital LLC bought a new stake in shares of FormFactor in the 2nd quarter valued at about $38,000. GAMMA Investing LLC bought a new stake in shares of FormFactor in the 4th quarter valued at about $55,000. LRI Investments LLC bought a new stake in shares of FormFactor in the 1st quarter valued at about $70,000. Finally, Covestor Ltd raised its holdings in shares of FormFactor by 3,951.3% in the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 1,541 shares in the last quarter. Institutional investors own 98.76% of the company’s stock.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.