Piper Jaffray Downgrades FormFactor (FORM) to Neutral; Slashes PT to $18
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Piper Jaffray downgrades FormFactor (Nasdaq: FORM) from Buy to Neutral and slashes its price target from $47 to $18.
The firm said it is obvious that FormFactor's Harmony ramp delay in the second half of '07 caused market share losses in the Company's DRAM branch. Piper said it would remain on the sidelines until a substantial change in the DRAM industry takes place. Such a change could be promoted by a restart in capacity expansion or a design transition.
FormFactor, Inc. engages in the design, development, manufacture, sale, and support of semiconductor wafer probe cards worldwide.
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