The FormFactor, Inc. (NASDAQ:FORM) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

The FormFactor, Inc. (NASDAQ:FORM) Posts Quarterly  Earnings Results, Beats Expectations By $0.12 EPS

Shares of FormFactor (NASDAQ:FORM) traded down 3.02% on Wednesday, hitting $12.85. The company’s stock had a trading volume of 1,433,208 shares. The stock has a market capitalization of $926.75 million, a P/E ratio of 70.60 and a beta of 1.61. FormFactor has a 52 week low of $8.55 and a 52 week high of $15.58. The stock’s 50 day moving average price is $12.96 and its 200 day moving average price is $12.42.

FormFactor, Inc. (NASDAQ:FORM) posted its quarterly earnings data on Wednesday. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.12, Briefing.com reports. FormFactor had a return on equity of 11.02% and a net margin of 2.71%. The business had revenue of $144 million for the quarter, compared to analysts’ expectations of $134.53 million. During the same quarter last year, the firm earned $0.13 earnings per share. The business’s revenue was up 73.3% on a year-over-year basis. FormFactor updated its Q3 guidance to $0.29-$0.35 EPS.

In related news, Director Dennis Thomas St sold 285,333 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $14.61, for a total value of $4,168,715.13. Following the completion of the sale, the director now directly owns 40,666 shares in the company, valued at $594,130.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Delateur sold 80,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $13.80, for a total transaction of $1,104,000.00. Following the completion of the sale, the director now owns 90,000 shares of the company’s stock, valued at $1,242,000. The disclosure for this sale can be found here. Insiders sold 479,083 shares of company stock worth $6,853,928 over the last ninety days. 2.84% of the stock is currently owned by company insiders.

FORM has been the topic of a number of research analyst reports. TheStreet upgraded FormFactor from a “c+” rating to a “b-” rating in a report on Thursday, May 11th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of FormFactor in a report on Monday, May 1st. Zacks Investment Research upgraded FormFactor from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday, May 8th. BidaskClub cut FormFactor from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Finally, ValuEngine upgraded FormFactor from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $15.75.

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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