The mean of analysts' price targets for FormFactor (FORM) points to a 35.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Shares of FormFactor Inc (FORM, Financial) surged 3.01% in mid-day trading on Oct 2. The stock reached an intraday high of $45.77, before settling at $45.50, up from its previous close of $44.17.
FormFactor (FORM) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
FormFactor (FORM) reported earnings 30 days ago. What's next for the stock?
The heavy selling pressure might have exhausted for FormFactor (FORM) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.
FormFactor's (FORM) second-quarter 2024 results benefit from robust demand for probe cards with increased revenues in the DRAM.
FormFactor, Inc. (NASDAQ:FORM ) Q2 2024 Earnings Conference Call July 31, 2024 4:25 PM ET Company Participants Stan Finkelstein - Investor Relations Michael Slessor - President, CEO & Director Shai Shahar - CFO Conference Call Participants Craig Ellis - B. Riley Securities Charles Shi - Needham & Company Tom Diffely - D.A.
FormFactor (FORM) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.14 per share a year ago.
FormFactor is experiencing strong growth in high-bandwidth memory (HBM) probe card demand, with HBM revenue nearly doubling in Q1 2024 compared to H2 2023. The company is benefiting from the increased adoption of advanced packaging technologies, which drives higher test intensity and complexity in semiconductor manufacturing. FormFactor's Q2 2024 guidance shows significant sequential growth, with expected revenue of $195 million ± $5 million and improved gross margins of 45% ± 150 basis points.
Here is how FormFactor (FORM) and CyberArk (CYBR) have performed compared to their sector so far this year.
FormFactor (FORM) reported earnings 30 days ago. What's next for the stock?