FormFactor (FORM) PT Raised to $50 at Craig-Hallum as Device Complexity Creates Long Term Tailwinds

February 4, 2021 8:57 AM EST
Get Alerts FORM Hot Sheet
Price: $50.05 -1.57%

Rating Summary:
    5 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 18 | New: 47
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Craig-Hallum analyst Christian Schwab raised the price target on FormFactor (NASDAQ: FORM) to $50.00 (from $35.00) after reporting better than expected results and guidance. The company is benefiting from increasing device complexity, which requires highly complex testing parameters and increased test times, and therefore an increased demand for probe cards.

The analyst reiterated the Buy rating, stating "as the industry moves to more post-fab integration to offset the slowing of Moore’s Law, wafer test and probe cards are taking a more important role in enabling advanced packaging solutions. Secular trends and demand for leading edge devices including 5G, high end compute and apps processors, and within these advanced packaging solutions are set to be a continued strong driver of long-term growth for FormFactor. The company is taking steps to add capacity to meet the robust demand, ramping a new 90,000 square foot facility which management expects to begin making revenue shipments from starting in the 2H of 2021."

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