On July 2, FormFactor fell 5.15% in regular trading, trading at $139.22/share, with turnover of $32.99 million. The decline comes as the semiconductor equipment sector faces selling pressure for a second consecutive session, compounded by the fading of passive fund inflows following the stock's Russell 1000 Index inclusion.
FormFactor was officially added to the Russell 1000 Index on June 29. Passive funds tracking the index had concentrated their allocation adjustments around the effective date, and the incremental capital inflow effect has now largely dissipated. The broader semiconductor equipment sector saw widespread declines, with KLA-Tencor down 5.73%, Lam Research down 4.85%, Applied Materials down 4.37%, Teradyne down 3.44%, and ASML down 0.66%.
On the institutional front, B. Riley previously upgraded FormFactor to Buy from Neutral with a $165 price target, while Evercore ISI upgraded the stock to Outperform with a $155 target. The company reported Q1 revenue of $230 million with gross margin improving 5.1 percentage points sequentially to 49.0%.
(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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