On June 15, FormFactor rose 5.75% overnight, trading at $145.15/share, with turnover of $233,100, continuing its recent oversold rebound trend.
On the news front, multiple investment banks have intensively upgraded their ratings on FormFactor. B.Riley recently upgraded FormFactor from Neutral to Buy, maintaining a $165 target price. Previously, Evercore ISI had already upgraded the stock from In Line to Outperform, setting a target price of $155. According to FactSet, FormFactor carries an average Overweight rating with a mean price target of $154.75. The upgrades follow strong Q1 results, with revenue reaching $230 million, gross margin improving 5.1 percentage points sequentially to 49.0%, and management raising Q2 guidance. Additionally, the broader Semiconductor Equipment sector rallied collectively, with Applied Materials up 3.77%, Teradyne up 4.68%, Lam Research up 3.64%, KLA-Tencor up 3.32%, and ASML up 3.28%, providing a supportive backdrop for FormFactor's advance.
(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.)