FormFactor Inc (NASDAQ: FORM) is buying and selling considerably decrease Thursday after the corporate reported worse-than-expected earnings.
What occurred: FormFactor launched its first quarter monetary outcomes on Wednesday. The corporate reported earnings of 38 cents a share, lacking the 39-cent estimate, and income of $ 186.6 million exceeding the estimate of $ 183 million.
“Our gross sales and gross margin, mixed with good management of working bills, produced sturdy quarterly outcomes as we continued to put money into capability growth to fulfill anticipated demand over the long run. time period and widespread, ”stated CEO Mike Slessor.
Associated Hyperlink: Abstract: FormFactor Q1 Outcomes
Analyst Ranking: Needham analyst Quinn Bolton maintained a purchase ranking on FormFactor and raised its value goal from $ 54 to $ 57.
Worth motion: FormFactor traded as excessive as $ 52.39 and as little as $ 21.97 over a 52 week interval. The inventory was down 18.4% to $ 39.07 finally test.
Photograph courtesy of FormFactor.
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