FormFactor (FORM) shares were down over 9% in recent trading Thursday, continuing the selloff from the previous day, following its Q4 results.
B. Riley also downgraded the company's stock Thursday to neutral from buy and cut its price target to $34 from $64 after the company missed Q4 analyst estimates.
The company reported Q4 non-GAAP diluted earnings Wednesday of $0.27 per share, up from $0.20 a year earlier.
Analysts polled by FactSet expected $0.29.
Revenue for the quarter that ended Dec. 31 was $189.5 million, up from $168.2 million a year earlier.
Analysts surveyed by FactSet expected $190.1 million.
The company said it expects Q1 non-GAAP diluted earnings of $0.19, plus or minus $0.04 per share. Analysts surveyed by FactSet expect $0.20.
The company expects revenue for the quarter of $170 million, plus or minus $5 million. Analysts polled by FactSet expect $172.3 million.
The company's trading volume stood at about 3.9 million shares in recent trading against a daily average of roughly 812,000.
Price: 37.30, Change: -3.82, Percent Change: -9.29
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