Needham analyst Charles Shi has maintained their neutral stance on FORM stock, giving a Hold rating today.
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Charles Shi has given his Hold rating due to a combination of factors related to Formfactor’s recent performance and future outlook. The company recently exceeded expectations in its quarterly results, which was a positive shift after a series of disappointing performances. This improvement was driven by strong performance in the HBM sector and a recovery in traditional DRAM, along with stable operations in the foundry and logic business sectors.
Despite these positive developments, Shi notes that the stock’s current valuation seems to have outpaced what the company is likely to achieve by the year 2026. While there is potential for further growth, particularly with future estimates for 2027, Shi maintains a cautious stance. The Hold rating reflects the need for more clarity on the company’s longer-term prospects before considering an upgrade in the rating.
In another report released today, TD Cowen also maintained a Hold rating on the stock with a $50.00 price target.