DA Davidson analyst Hans Chung raised the firm’s price target on FormFactor to $36 from $32 and keeps a Buy rating on the shares. The company’s Q4 earnings and Q1 guidance outperformed expectations, driven mainly by the recovery of China-related revenue and moderately stronger demand in mobile and PC driven by new product ramps, the analyst tells investors in a research note. The firm adds that despite the current downturn, demand is stabilizing, and it remains bullish on FormFactor’s medium-to-long-term prospects.
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Read More on FORM:
- FormFactor price target raised to $36 from $28 at Needham
- FormFactor price target raised to $32 from $25 at Cowen
- FormFactor sees Q1 EPS 13c-14c, consensus 7c
- FormFactor, Inc. Reports 2022 Fourth Quarter Results
- FormFactor reports Q4 EPS 5c, consensus 3c
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