FormFactor sees Q3 revenue at $270 mln +/- $10 mln.
Company expects Q3 non-GAAP gross margin of 54.0% +/- 1.5%.
FormFactor projects Q3 non-GAAP net income per diluted share of $0.86 +/- $0.09.
Result drivers
Broad-based demand - Co said strong demand in DRAM, Foundry & Logic, and Systems segments drove Q2 results.
Investment and execution - CEO said results reflect years of investment in high-performance compute and advanced packaging, and stronger execution to enhance profitability.
Q2 results beat estimates
Semiconductor test equipment maker's fiscal Q2 revenue rose 32% yr/yr, beating analyst expectations.
Adjusted net income for fiscal Q2 beat analyst expectations.
Company cites strong demand in DRAM, Foundry & Logic, and Systems segments.
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the semiconductor equipment & testing peer group is "buy".
Wall Street's median 12-month price target for FormFactor Inc is $155.00, about 75.7% above its July 28 closing price of $88.23.
The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 49 three months ago.
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