Movement Alert｜FormFactor Rises 5.53% Overnight, Evercore ISI Upgrades Rating to Outperform with $155 Target Price

Market Focus06-08

On June 8, FormFactor rose 5.53% overnight, trading at $123.15/share, with trading volume of $48,400, extending a rebound from recent oversold levels.

On the news front, Evercore ISI upgraded FormFactor from In Line to Outperform, setting a target price of $155. According to FactSet, the stock carries an average analyst rating of Overweight with a mean price target of $154.75, implying significant upside from the current price. The upgrade comes after FormFactor's stock pulled back sharply from its late-May high of approximately $138 following strong Q1 results that included revenue of $230 million, gross margin improvement of 5.1 percentage points to 49.0%, and raised Q2 guidance. The positive analyst signal, combined with broader semiconductor equipment sector strength — with ASML up 3.49%, Teradyne up 3.06%, Applied Materials up 2.38%, Lam Research up 1.99%, and KLA-Tencor up 1.22% — collectively supported the overnight rebound.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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