FormFactor (NASDAQ:FORM) Posts Quarterly Earnings Results

FormFactor (NASDAQ:FORM) released its quarterly earnings results on Wednesday. The semiconductor company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.14), Zacks reports. FormFactor had a net margin of 18.29% and a return on equity of 5.38%.

FormFactor Trading Up 3.8 %

NASDAQ FORM traded up $1.52 during trading hours on Wednesday, hitting $41.12. The company’s stock had a trading volume of 884,378 shares, compared to its average volume of 740,140. FormFactor has a twelve month low of $37.25 and a twelve month high of $63.63. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.19 billion, a P/E ratio of 23.63 and a beta of 1.07. The stock has a fifty day moving average of $42.96 and a 200 day moving average of $44.37.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $40.59, for a total transaction of $162,360.00. Following the completion of the sale, the chief executive officer now owns 526,531 shares in the company, valued at approximately $21,371,893.29. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 12,000 shares of company stock valued at $496,040. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Citigroup upgraded shares of FormFactor from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $51.00 in a research report on Monday, January 6th. Finally, Needham & Company LLC downgraded shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.00.

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.