Movement Alert|FormFactor Rises 5.11% in Regular Trading, Multiple Investment Banks Upgrade Ratings as Semiconductor Equipment Sector Rallies

Market Focus06-17

On June 17, FormFactor rose 5.11% in regular trading, trading at $146.616/share, with turnover of $12.87 million, extending its recent rebound trajectory.

On the news front, B.Riley recently upgraded FormFactor from neutral to buy, maintaining a $165 price target. Previously, Evercore ISI raised its rating from \"in line\" to \"outperform\" with a $155 target. FactSet data shows the stock carries an average analyst rating of \"overweight\" with a mean price target of $154.75. FormFactor reported strong first-quarter results with revenue of $230 million, gross margin improving 5.1 percentage points sequentially to 49.0%, and raised its second-quarter guidance, prompting a wave of analyst upgrades.

Meanwhile, the semiconductor equipment sector rallied broadly, with Applied Materials up 9.18%, Lam Research up 7.02%, ASML up 6.31%, Teradyne up 6.39%, and KLA-Tencor up 5.38%, providing additional tailwinds for FormFactor shares.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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