FormFactor (FORM) PT Raised to $50 at Craig-Hallum as Device Complexity Creates Long Term Tailwinds
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Movida Participacoes SA (MOVI3:BZ) PT Lowered to R$20 at Morgan Stanley
- Shinhan Financial Group (055550:KS) (SHG) PT Raised to KRW48,000 at Morgan Stanley
- KB Financial Group (105560:KS) (KB) PT Raised to KRW67,500 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!