BUZZ-FormFactor drops after Q1 profit, revenue forecast fall below estimates

Shares of chip testing equipment maker FormFactor FORM.O fall 27.6% to $29.75 premarket

Co forecasts Q1 revenue of $170 mln, plus or minus $5 mln, compared to analysts' avg estimates of $184 mln according to data compiled by LSEG

Co sees Q1 adj EPS of 19 cents, plus or minus 4 cents, vs estimates of 31 cents - LSEG

FORM reports Q4 rev of $189.5 mln, missing analysts' estimates of $191.1 mln - LSEG

Brokerage T.D. Cowen cuts PT to $35 from $44; D.A. Davidson cuts PT to $50 from $55

Five brokerages rate the stock "buy" or higher, five rate "hold"; their median PT is $50

FORM stock gained 5.5% in 2024