Freedom Capital Markets Upgrades Formfactor to Buy, Keeps $140 Target
The $140 target matches the median target among the nine firms that covered the stock in the past year.
Key points
- Freedom Capital Markets upgraded Formfactor to buy from hold and kept its $140 price target
- Formfactor closed at $87.53 on Oct. 30, after a 41.3% fall over the prior 20 sessions
- Before Monday, six of nine covering firms rated the stock positive; median target was $140
- Latest quarter revenue was $258.2 million, up 32% from a year earlier
Freedom Capital Markets upgraded Formfactor Inc (Nasdaq: FORM) to buy from hold before the open on Monday, Nov. 2, and kept its price target at $140.
The firm acted five days after Formfactor filed an 8-K with the SEC on Wednesday, Oct. 28.
Formfactor closed at $87.53 on Friday, Oct. 30. The stock had fallen 41.3% over the 20 sessions to that close.
Before Monday, six of the nine firms that rated the stock in the past year rated it positive and three rated it neutral. None rated it negative. Their price targets ranged from $75 to $200, with a median of $140.
Formfactor reported revenue of $785.0 million for its last fiscal year, up 3% from a year earlier. In the quarter ended June 27, revenue was $258.2 million, up 32%. Cash and investments totaled $345.6 million as of that date.
The market value before the filing was about $6.84 billion, based on the Oct. 30 close and 78.1 million shares.
Sources
Written with AI from analyst rating changes, SEC filings and market data, and checked against those sources before publishing. Our editorial standards.
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More on Formfactor
FORM page →Filings, figures and price history are on the Formfactor page.