On June 18, FormFactor rose 5.22% in pre-market trading, trading at $146.0/share, with turnover of $259,300, extending its recent rebound trajectory.
On the news front, B.Riley recently upgraded FormFactor from Neutral to Buy, maintaining a $165 target price. Earlier, Evercore ISI upgraded the stock from In Line to Outperform with a $155 target price. FactSet data shows the stock carries an average analyst rating of Overweight with a mean target price of $154.75, suggesting meaningful upside from current levels.
FormFactor previously reported strong first-quarter results, with revenue reaching $230 million, gross margin improving 5.1 percentage points sequentially to 49.0%, and raised second-quarter guidance. Meanwhile, the semiconductor equipment sector is broadly strengthening, with Lam Research up 5.41%, KLA-Tencor up 5.03%, Applied Materials up 4.72%, Teradyne up 4.28%, and ASML up 2.84%.
(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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