Citigroup Maintains FormFactor to Neutral with Price Target $10.00

Brokerage firm Citigroup Maintains its rating on FormFactor(NASDAQ:FORM). In a research note issued to the investors, the brokerage major Raises the price-target to $10.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Aug 3, 2016.

In a different note, On Aug 2, 2016, Stifel Nicolaus said it Upgrades its rating on FormFactor. The shares have been rated ‘Buy’ by the firm.

FormFactor (FORM) made into the market gainers list on Fridays trading session with the shares advancing 2.10% or 0.21 points. Due to strong positive momentum, the stock ended at $10.2, which is also near the day’s high of $10.22. The stock began the session at $10.06 and the volume stood at 5,43,960 shares. The 52-week high of the shares is $10.98 and the 52 week low is $5.66. The company has a current market capitalization of $720 M and it has 7,05,65,320 shares in outstanding.

FormFactor(FORM) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $83.08M. Analysts had an estimated revenue of $78.23M. Earnings per share were $0.13. Analysts had estimated an EPS of $0.11.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Mike Slessor (CEO) sold 3,401 shares at $7.33 per share price.Also, On Jun 2, 2016, Michael M Ludwig (SR VP, CFO) sold 3,692 shares at $7.33 per share price.On Nov 25, 2015, Richard Delateur (director) sold 16,000 shares at $8.60 per share price, according to the Form-4 filing with the securities and exchange commission.

FormFactor Inc. designs develops manufactures sells and supports semiconductor probe card products. The Company is the supplier of probe cards to manufacturers of DRAM Flash and SoCs products across the world. Semiconductor manufacturers use its probe cards to perform wafer test (also known as wafer sort) which is the testing of the semiconductor die or chips. Its products are based on its technologies including its micro-electromechanical systems (MEMS) technologies its automation systems its various product architectures and its design tools. The applications of these products include customer collaboration consumer integrated circuits (ICs) mobile ICs automative ICs computing ICs and publications. The Company operates under the brands FormFactor the FormFactor logo Apollo ATRE DC-Boost Matrix MicroProbe the MicroProbe logo MicroSpring Mx-FinePitch OneTouch QiLin RapidSoak SmartMatrix SMART Matrix 100 TouchMatrix Takumi and TrueScale Lite among others.

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