FormFactor (FORM) is Upgraded by Stifel to Buy, Price Target at $13

FormFactor (FORM) was Upgraded by Stifel to ” Buy” and the brokerage firm has set the Price Target at $13. Earlier the firm had a rating of “Hold ” on the company shares. Stifel advised their investors in a research report released on Aug 2, 2016.

On the company’s financial health, FormFactor reported $-0.11 EPS for the quarter, based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus estimate of $-0.11. The company had revenue of $53.60 million for the quarter, compared to analysts expectations of $53.40 million. The company’s revenue was down -24.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.

FormFactor closed down -0.33 points or -3.41% at $9.35 with 5,49,780 shares getting traded on Friday. Post opening the session at $9.74, the shares hit an intraday low of $9.32 and an intraday high of $9.74 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 2, 2016, Mike Slessor (CEO) sold 3,401 shares at $7.33 per share price. According to the SEC, on Jun 2, 2016, Michael M Ludwig (SR VP, CFO) sold 3,692 shares at $7.33 per share price. On Nov 25, 2015, Richard Delateur (director) sold 16,000 shares at $8.60 per share price, according to the Form-4 filing with the securities and exchange commission.

FormFactor Inc. designs develops manufactures sells and supports semiconductor probe card products. The Company is the supplier of probe cards to manufacturers of DRAM Flash and SoCs products across the world. Semiconductor manufacturers use its probe cards to perform wafer test (also known as wafer sort) which is the testing of the semiconductor die or chips. Its products are based on its technologies including its micro-electromechanical systems (MEMS) technologies its automation systems its various product architectures and its design tools. The applications of these products include customer collaboration consumer integrated circuits (ICs) mobile ICs automative ICs computing ICs and publications. The Company operates under the brands FormFactor the FormFactor logo Apollo ATRE DC-Boost Matrix MicroProbe the MicroProbe logo MicroSpring Mx-FinePitch OneTouch QiLin RapidSoak SmartMatrix SMART Matrix 100 TouchMatrix Takumi and TrueScale Lite among others.


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