Barclays Maintains an 'Equalweight' on FormFactor (FORM); DRAM Spending Takes Another Leg Down

December 15, 2011 1:54 PM EST
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Price: $11.90 +2.59%

Rating Summary:
    5 Buy, 1 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Barclays maintains an 'Equalweight' on FormFactor (NASDAQ: FORM) price target cut from $6 to $5.

Barclays analyst says, "While incremental DRAM price and capex weakness is unsurprising, given a stream of negative data points on slower PC demand as well as HDD supply disruption, management's commentary about the anticipated cash burn points to more meaningful cash erosion through 2012."

"Based on our expectations for sluggish DRAM demand to spill into 1H12, we lower our CY12 estimates to $158M/-$1.20 (old $164M/-$1.10, consensus $173M/-$1.00), though maintain our CY13 estimates of $198M/-$0.60 (consensus $203M/-$0.42)."

For an analyst ratings summary and ratings history on FormFactor click here. For more ratings news on FormFactor click here.

Shares of FormFactor closed at $5.02 yesterday.

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