Needham analyst Y. Edwin Mok downgraded FormFactor (FORM) to Buy from Strong Buy and lowered his price target to $17 from $20. The analyst is citing recent reports "suggesting slower growth ahead", adding that a more cautious stance may be warranted after Intel (INTC) confirmed that it pushed out the 10nm ramp from the second half of 2018 to 2019. Mok notes that he is now less confident in the company's "sizable" second-half rebound needed to meet consensus expectations, with the recent weakness in the smartphone market also limiting FormFactor's near-term potential.