Incannex Healthcare Halted, News Pending
In a recent transaction, Mike Slessor, CEO of FormFactor Inc. (NASDAQ:FORM), sold 4,000 shares of the company’s common stock. The sale comes as FormFactor’s stock trades near its 52-week low of $27.55, having declined approximately 37% over the past year. According to InvestingPro analysis, the company maintains a strong financial position with a healthy current ratio of 4.61x. The shares were sold at a weighted average price of approximately $28.24, with the total transaction amounting to $112,977. Following this sale, Slessor retains ownership of 514,650 shares in the company. This transaction was executed automatically under a pre-established Rule 10b5-1 trading plan. With the stock currently showing signs of being undervalued based on InvestingPro’s Fair Value analysis, investors can access 12 additional key insights and a comprehensive Pro Research Report to better understand the company’s potential.
In other recent news, FormFactor reported its fourth-quarter earnings, revealing an earnings per share (EPS) of $0.27, which was below the consensus estimate by $0.02. Revenue for the quarter reached $189.5 million, slightly under the expected $190.12 million, yet marking a 12.7% increase from the previous year’s same quarter. However, guidance for the first quarter of 2025 fell short, with expected EPS between $0.15 and $0.23, significantly lower than the anticipated $0.33. The projected revenue range of $165 million to $175 million also missed the consensus estimate of $192.93 million. Following this announcement, B.Riley downgraded FormFactor’s stock from Buy to Neutral, citing weak demand in the PC and smartphone markets and a retreat in gross margins.
In contrast, Stifel maintained a Hold rating with a $48 price target, expressing cautious optimism about FormFactor’s position in the High Bandwidth (NASDAQ:BAND) Memory (HBM) DRAM market. The company also announced a strategic partnership with Delft Circuits to enhance quantum computing capabilities, integrating Cri/oFlex® cabling to boost system performance. Additionally, FormFactor acquired a minority interest in FICT Limited, a move not expected to materially impact operations. Despite these developments, analysts remain watchful of FormFactor’s performance amid ongoing market challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.