Q2 Revenue and Profitability Exceed the Midpoint of the Outlook Range; Sees Steady Overall Demand in the Third Quarter LIVERMORE, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) today announced its financial results for the second quarter of fiscal 2024 ended June 29, 2024. Quarterly revenues were $197.5 million, an increase of 17.0% compared to $168.7 million in the first quarter of fiscal 2024, and an increase of 26.7% from $155.9 million in the second quarter of fiscal 2023. Pro ...

Company Overview - FormFactor Inc is a leader in semiconductor testing and measurement products, supplying wafer fabrication, test, and assembly equipment [17] - The company has a strong cash position of $357 2 million as of Q1 2024, double the amount reported in YE2023 [3] - FormFactor operates in three segments with total addressable markets of $85 billion for wafer fabrication equipment, $2 8 billion for wafer test and measurement equipment, and $3 5 billion for wafer assembly and final test equipment [24] Financial Performance - The company's trailing P/E multiple is 31 65x, slightly above the industry median of 30-32x [5] - FormFactor's fair price is estimated at $45 3 with an upside potential of -11 6% [2] - Revenue is projected to grow at 30% annually, reaching $2 5 billion by 2028 [11] - Net profit margin is expected to be 43% from 2024 onwards [9] Industry Trends - The semiconductor industry is cyclical, with recent pullbacks affecting major players [14] - Strong demand for high bandwidth memory and advanced packaging technologies is driving growth in 2024 [19] - Expanding investments in data centers and AI by major tech companies are fueling demand for high bandwidth memory probe cards [19] Competitive Landscape - FormFactor's major customers include Intel, TSMC, Micron, SK Hynix, and Samsung [14] - The company faces competition from players like Daqo New Energy Corp, Photronics Inc, and Advanced Energy Industries Inc [21] - FormFactor commands a dominant position in wafer fabrication and testing, with over $100 billion in opportunities [14] Future Outlook - FormFactor is expected to report earnings on July 31, 2024, with strong sequential growth projected for Q2 2024 [6] - The company plans to increase R&D spending to develop new products and improve existing ones [19] - Long-term price projection suggests a fair price of $85 with a 66% upside potential by 2028 [11] Operational Challenges - Revenue is concentrated among a few major customers, increasing dependency risks [14] - The DRAM segment, including high bandwidth memory, has lower gross margins compared to Foundry and Logic segments [22] - Geopolitical risks, particularly US-China trade restrictions, may impact market perception [14]

FormFactor is one of 617 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group. Over the past three months, the Zacks Consensus Estimate for FORM's full-year earnings has moved 15% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improvi ...

LIVERMORE, Calif., July 17, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) will report financial results for its 2024 fiscal second quarter on Wednesday, July 31st, 2024, at 1:25 p.m. Pacific Time. The public is invited to listen to a live webcast of FormFactor's conference call on the Investors section of the company's web site at www.formfactor.com. To Listen via Telephone: Preregistration is required. Please preregister by clicking here. Upon registering, you will be emailed a dial-in number, d ...

The presentation material utilized during the CEO Investor Summit will be made accessible on the events page of the Company's website at www.formfactor.com. Attendance at the CEO Investor Summit is by invitation only and is available solely to accredited investors and publishing research analysts. As space is limited, please RSVP early. Hosts reserve the right to limit attendance as necessary. Last day for registration is June 28, 2024. Claire E. McAdams Phone: (530) 265-9899 Email: claire@headgatepartners. ...

Source: FormFactor, Inc. LIVERMORE, Calif., June 20, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (NASDAQ: FORM), today announced management's participation in the 16th Annual CEO Investor Summit 2024, being held Wednesday, July 10th at the St. Regis Hotel, San Francisco, CA. About the 16th Annual CEO Investor Summit 2024 The CEO Investor Summit is collectively hosted and funded by participating companies and features a "roundrobin" format consisting of small group meetings with company management teams. Durin ...

LIVERMORE, Calif., May 16, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) is pleased to announce its participation in the following investor conferences: B. Riley 24th Annual Institutional Investor Conference Location: The Beverly Hilton Date: May 22nd, 2024 Format: 1:1's Only Craig-Hallum 21st Annual Institutional Investor Conference Location: Depot Renaissance Hotel Minneapolis Date: May 29th, 2024 Format: 1:1's Only TD Securities 52nd Annual Technology, Media & Telecom Conference Location: Inte ...

LIVERMORE, Calif., May 16, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) is pleased to announce its participation in the following investor conferences: B. Riley 24th Annual Institutional Investor Conference Location: The Beverly Hilton Date: May 22nd, 2024 Format: 1:1's Only Craig-Hallum 21st Annual Institutional Investor Conference Location: Depot Renaissance Hotel Minneapolis Date: May 29th, 2024 Format: 1:1's Only TD Securities 52nd Annual Technology, Media & Telecom Conference Location: Inte ...

FormFactor (FORM) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this integrated circuits diagnostic company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in ...

FormFactor (FORM) delivered first-quarter 2024 adjusted earnings of 18 cents per share, missing the Zacks Consensus Estimate by 5.26%. The bottom-line figure increased 12.5% year over year.Revenues of $168.7 million beat the Zacks Consensus Estimate by 2.24% and increased 0.8% on a year-over-year basis. The top-line growth can primarily be attributed to growth in probe cards.Segments in DetailProbe card revenues were $136.7 million, up 7.4% year over year.Foundry & Logic (accounting for 51.5% of revenues) r ...