Fly News Breaks for June 18, 2019
FORM, COHU, TER
Jun 18, 2019 | 06:53 EDT
Stifel analyst Brian Chin said commentary directly from Huawei and its supply chain has further quantified the impact of recent trade restrictions and tariffs and with the "malaise in May now too acute to ignore" he has lowered his 2019 and 2020 revenue forecasts for semiconductor test equipment suppliers Teradyne (TER), Cohu (COHU) and FormFactor (FORM). However, he keeps Buy ratings on all three stocks as Chin thinks some of the near-term risk to estimates is already discounted and that a cyclical semi recovery "remains very much in play" for next year.
News For TER;COHU;FORM From the Last 2 Days
FORM
Apr 15, 2024 | 16:30 EDT
Evercore ISI analyst Vedvati Shrotre initiated coverage of FormFactor with an In Line rating and $50 price target. The company should benefit over the near term from a cyclical recovery in PC markets, with 2024 and 2025 revenue growing 7% and 13% from last year respectively, but the recovery is likely priced in as the stock trades at an 86% P/E premium to SPX and at 27-times the firm's expected 2025 EPS, the analyst tells investors in a research note.