Semiconductor testing company FormFactor (NASDAQ: FORM) will be reporting earnings this Wednesday after market hours. Here’s what to expect.
FormFactor beat analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $195.8 million, flat year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ adjusted operating income estimates.
Is FormFactor a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting FormFactor’s revenue to decline 3.8% year on year to $200 million, a reversal from the 21.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FormFactor has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.9% on average.
Looking at FormFactor’s peers in the semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Amkor delivered year-on-year revenue growth of 6.7%, beating analysts’ expectations by 2.6%, and Lam Research reported revenues up 27.7%, topping estimates by 1.6%. Lam Research traded up 4.3% following the results.
Read our full analysis of Amkor’s results here and Lam Research’s results here.
There has been positive sentiment among investors in the semiconductors segment, with share prices up 9.4% on average over the last month. FormFactor is up 20.1% during the same time and is heading into earnings with an average analyst price target of $35.88 (compared to the current share price of $43.53).
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