Semiconductor testing company FormFactor (NASDAQ:FORM) will be reporting results tomorrow after the bell. Here's what to expect.
Last quarter FormFactor reported revenues of $155.9 million, down 23.5% year on year, missing analyst expectations by 3.94%. It was a weak quarter for the company, with a miss of analysts' revenue estimates and a decline in its operating margin.
Is FormFactor buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting FormFactor's revenue to decline 7.68% year on year to $167 million, a further deceleration on the 4.79% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.17 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at FormFactor's peers in the semiconductor manufacturing segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. KLA Corporation's revenues decreased 12% year on year, beating analyst estimates by 1.95%, and Lam Research (NASDAQ:LRCX) reported revenue decline of 31.4% year on year, exceeding estimates by 1.94%. KLA Corporation traded up 0.65% on the results, Lam Research was down 3.5%.
Read the full analysis of KLA Corporation's and Lam Research's results on StockStory.
Triggered by the Federal Reserve's hawkish stance on interest rates, shares of technology companies have been facing sell-off in 2022, and while some of the semiconductor manufacturing stocks have fared somewhat better, they have not been spared, with share price declining 11.9% over the last month. FormFactor is down 2.49% during the same time, and is heading into the earnings with analyst price target of $39.3, compared to share price of $32.8.
The author has no position in any of the stocks mentioned.