Semiconductor testing company FormFactor (NASDAQ:FORM) will be reporting earnings this Wednesday after market close. Here’s what to expect.
FormFactor beat analysts’ revenue expectations last quarter, reporting revenues of $215.2 million, up 13.6% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat 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, the market is expecting FormFactor’s revenue to grow 31.5% year on year, improving from the 1.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FormFactor rarely misses Wall Street’s revenue estimates.
Looking at FormFactor’s peers in the semiconductors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Lam Research delivered year-on-year revenue growth of 23.8%, beating analysts’ expectations by 1.7%, and Amkor reported revenues up 27.5%, topping estimates by 1.7%. Lam Research traded down 2.6% following the results.
Read our full analysis of Lam Research’s results here and Amkor’s results here.
There has been positive sentiment among investors in the semiconductors segment, with share prices up 46.9% on average over the last month. FormFactor is up 58% during the same time and is heading into earnings with an average analyst price target of $101.56 (compared to the current share price of $144.47).
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