FormFactor Receives “Neutral” Rating from Zacks (FORM)
FormFactor (NASDAQ:FORM)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Friday, Stock Ratings Network.com reports. They currently have a $6.75 price target on the stock. Zacks‘ price objective would indicate a potential upside of 3.85% from the stock’s previous close.
Zacks‘ analyst wrote, “FormFactor is an OEM of wafer probe cards used in the back end of the semiconductor manufacturing process. The company posted a narrower-than-expected fourth quarter loss. Management provided decent revenue guidance for the upcoming quarter. We believe that FormFactor’s decision to shift focus away from the PC DRAM market toward mobile segment is likely to be beneficial. Form has the product pipeline and cost structure to register robust growth and profitability going forward. However, we believe the weakening demand for probe cards might prevent the company from absorbing all of its manufacturing costs, impacting margins. We have a Neutral recommendation on FormFactor shares.”
Shares of FormFactor (NASDAQ:FORM) traded down 2.00% during mid-day trading on Friday, hitting $6.37. The stock had a trading volume of 187,673 shares. FormFactor has a 1-year low of $4.30 and a 1-year high of $7.75. The stock’s 50-day moving average is $6.37 and its 200-day moving average is $6.22. The company’s market cap is $347.6 million.
FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.02 by $0.22. The company had revenue of $48.55 million for the quarter, compared to the consensus estimate of $48.03 million. During the same quarter last year, the company posted ($0.25) earnings per share. FormFactor’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that FormFactor will post $0.05 EPS for the current fiscal year.
Separately, analysts at B. Riley initiated coverage on shares of FormFactor in a research note to investors on Thursday, December 12th. They set a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. FormFactor currently has an average rating of “Hold” and a consensus price target of $8.44.
FormFactor, Inc designs, develops, manufactures, sells and supports precision, semiconductor wafer probe card products and solutions.
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