Analysts have a consensus target price of $11.68 in the 12-month period. The price objective is 60.44% higher than the recent closing price of $7.28. The 52-week price range is $5.73-$9.66 and the company has a market capitalization of $428.94 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, Zero has assigned a hold rating, 1 says it’s a buy, and 3 have assigned a strong buy rating to the company.
FormFactor, Inc. (FORM) on March 29, 2016 announced that its first-quarter 2016 results will be below prior guidance. The company expects revenue of between $53 million to $54 million, non-GAAP gross margin of 22% to 24%, and non-GAAP loss per share of $0.10 to $0.12.
This revision is the result of two timing-related factors. First and primarily, to meet a doubling in demand for SoC probe cards by a key customer, the company increased capacity, although at a rate slower than originally planned. The company holds record backlog for this product line, and expects to continue to produce at record levels through the remainder of 2016. Second, the company experienced push-outs of DRAM probe card deliveries by certain customers from the first quarter to the early part of the second quarter. This SoC and DRAM demand is secured by firm customer purchase orders.
In addition, the company provided preliminary second quarter revenue guidance of $72 million to $80 million.
“With the strong demand acceleration for the company’s SoC probe cards, and the gradual increase in DRAM new-design activity, we remain confident that we will grow annual revenues for the fourth consecutive year,” commented Mike Slessor, FormFactor’s Chief Executive Officer.
FormFactor, Inc. designs, develops, manufactures, sells, and supports semiconductor probe card products worldwide. Its probe cards are used to perform wafer test, which is the testing of the semiconductor die or chips on the semiconductor wafer. The company’s probe cards are used to test DRAM chips, including LPDDR2, LPDDR3, LPDDR4, DDR, DDR2, DDR3, DDR4, SDRAM, PSRAM, and graphic DRAM; NOR, PCM, and NAND flash memory chips; and system-on-chip (SoC) devices, such as microprocessors, mobile application processors, microcontrollers, graphic processors, RF, analog and mixed-signal devices, and chipsets. It markets and sells its products through direct sales force and distributors to semiconductor chip manufacturers in the DRAM, flash, and SoC markets. FormFactor, Inc. was founded in 1993 and is headquartered in Livermore, California.
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