FormFactor (NASDAQ:FORM) released its earnings results on Wednesday, February 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05, MarketWatch Earnings reports. The company had revenue of $140.90 million for the quarter, compared to analyst estimates of $135.93 million. FormFactor had a net margin of 19.64% and a return on equity of 11.59%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. FormFactor updated its Q1 2019 guidance to $0.15-0.21 EPS and its Q1 guidance to $0.15-0.21 EPS.
NASDAQ FORM opened at $15.90 on Friday. FormFactor has a 12 month low of $11.10 and a 12 month high of $16.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.30 and a quick ratio of 2.54. The stock has a market cap of $1.21 billion, a PE ratio of 20.65, a P/E/G ratio of 1.99 and a beta of 1.66.
FORM has been the topic of a number of recent research reports. ValuEngine upgraded shares of FormFactor from a “hold” rating to a “buy” rating in a report on Friday, January 25th. BidaskClub raised shares of FormFactor from a “hold” rating to a “buy” rating in a research note on Tuesday, November 27th. Zacks Investment Research raised shares of FormFactor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Craig Hallum downgraded 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. Finally, Sidoti dropped their price objective on shares of FormFactor from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, January 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $17.08.
In related news, Director Kelley Steven-Waiss sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $15.50, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis Thomas St sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $15.99, for a total transaction of $127,920.00. Following 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. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank boosted its holdings in FormFactor by 6.7% in the 4th quarter. Amalgamated Bank now owns 10,877 shares of the semiconductor company’s stock worth $153,000 after acquiring an additional 681 shares during the period. Legal & General Group Plc boosted its holdings in FormFactor by 0.9% in the 4th quarter. Legal & General Group Plc now owns 158,114 shares of the semiconductor company’s stock worth $2,223,000 after acquiring an additional 1,398 shares during the period. Thrivent Financial for Lutherans boosted its holdings in FormFactor by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 51,979 shares of the semiconductor company’s stock worth $732,000 after acquiring an additional 1,143 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in FormFactor in the 4th quarter worth approximately $1,123,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in FormFactor by 365.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 23,720 shares of the semiconductor company’s stock worth $334,000 after acquiring an additional 18,624 shares during the period. Hedge funds and other institutional investors own 95.32% of the company’s stock.
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FormFactor Company Profile
FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, thermal sub-systems, and reliability test 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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