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FORM

FormFactor

$19.62

0.19 (0.98%)

16:35
10/09/19
10/09
16:35
10/09/19
16:35

FormFactor acquires FRT for EUR19.7M in cash, sees accretion

FormFactor announced the acquisition of FRT, based in Germany. FRT is a metrology suppliers in the semiconductor industry, with revenues at more than 75% compounded annual growth rate since its inception in 2016 to 2018. This acquisition helps FormFactor's test and measurement by expanding its addressable market into 3D surface metrology and extending the optical applications scope of its existing engineering systems business. The acquisition expands FormFactor's addressable market by $150M, accelerates the company's growth in advanced packaging/MEMS applications and complements consumable wafer test probe products. In accordance with the terms of the transaction, FormFactor paid EUR19.7M in cash for the acquisition. Up to EUR10.3M of additional cash consideration may be payable subject to the performance of the acquired business in 2020. This acquisition is expected to be immediately accretive to earnings on a non-GAAP basis.

FORM FormFactor
$19.62

0.19 (0.98%)

06/11/19
NEED
06/11/19
INITIATION
Target $19
NEED
Buy
FormFactor initiated with a Buy at Needham
Needham analyst N.Quinn Bolton initiated FormFactor with a Buy rating and a price target of $19. The analyst cites the company's position as an "indisputable leader in the growing probe card market" as well as its expanding market share reaching the size that is double that of its closest peers. Bolton believes that FormFactor stands to benefit from the "growth of both foundry/logic and memory", saying it is the only company whose products balance between these two end markets. The analyst also sees FormFactor gaining from the broader trends of higher wafer test intensity demand coming from advanced packaging, 5G, and automotive semiconductors sectors.
06/11/19
06/11/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. FormFactor (FORM) initiated with a Buy at Needham. 2. Victory Capital (VCTR) initiated with a Perform at Oppenheimer. 3. Agilent (A) initiated with an Overweight at Piper Jaffray. 4. Danaher (DHR) initiated with a Neutral at Piper Jaffray. 5. Amag Pharmaceuticals (AMAG) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/18/19
STFL
06/18/19
NO CHANGE
STFL
Buy
Semiconductor test equipment estimates lowered at Stifel
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.
10/01/19
RILY
10/01/19
NO CHANGE
Target $25
RILY
Buy
FormFactor price target raised to $25 from $22 at B. Riley FBR
B. Riley FBR analyst Craig Ellis raised his price target for FormFactor (FORM) to $25 from $22 and reiterates a Buy rating on the shares. The company's foundry/logic share gain at TSMC (TSM) "seems poised for another leg higher" exiting 2019 as 7nm and 5nm volumes pick up into 2020's 5G smartphone cycle, Ellis tells investors in a research note. Further, the analyst believes rising 5G smartphone unit volumes in 2020 could "kick off another RF probe card growth cycle," similar to the early 4G years. Together, he believes these two items could provide moderate upside to FormFactor's consensus estimates.

TODAY'S FREE FLY STORIES

SPY

SPDR S&P 500 ETF Trust

$298.89

2.88 (0.97%)

, SPX

S&P 500

$0.00

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China may retaliate if U.S. Congress passes bill supporting Hong Kong protesters 

Report from Bloomberg.

SPY

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Bank of America

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0.59 (2.02%)

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Abbott

$82.06

2.25 (2.82%)

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Notable companies reporting before tomorrow's open »

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BAC

Bank of America

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0.59 (2.02%)

ABT

Abbott

$82.06

2.25 (2.82%)

USB

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PNC

PNC Financial

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BK

BNY Mellon

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ALLY

Ally Financial

$32.03

0.68 (2.17%)

CMA

Comerica

$67.01

1.765 (2.71%)

FHN

First Horizon

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RIO

Rio Tinto

$51.40

-0.43 (-0.83%)

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GNTX

Gentex

$26.98

0.65 (2.47%)

20:16
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VNE

Veoneer

$16.11

0.82 (5.36%)

20:16
10/15/19
10/15
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Initiation
Veoneer initiated  »

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VC

Visteon

$82.45

0.63 (0.77%)

20:15
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Initiation
Visteon initiated  »

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  • 24

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DLPH

Delphi Technologies

$14.37

0.45 (3.23%)

20:14
10/15/19
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Initiation
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BWA

BorgWarner

$37.74

0.68 (1.83%)

20:13
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10/15
20:13
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Initiation
BorgWarner initiated  »

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  • 31

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LEA

Lear

$121.75

3.94 (3.34%)

20:13
10/15/19
10/15
20:13
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Initiation
Lear initiated  »

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  • 25

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DFIN

Donnelley Financial Solutions

$10.54

0.035 (0.33%)

20:12
10/15/19
10/15
20:12
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20:12
Initiation
Donnelley Financial Solutions initiated  »

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JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

, TEVA

Teva

$6.96

0.22 (3.26%)

19:17
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10/15
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10/15/19
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Periodicals
As part of proposed settlement, Teva offers $15B of free drugs, Bloomberg says »

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JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

TEVA

Teva

$6.96

0.22 (3.26%)

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  • 15

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WAFD

Washington Federal

$36.81

0.15 (0.41%)

19:04
10/15/19
10/15
19:04
10/15/19
19:04
Earnings
Washington Federal reports Q4 EPS 66c, consensus 65c »

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  • 06

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INGR

Ingredion

$81.17

0.94 (1.17%)

19:01
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Ingredion discloses malware affecting certain data centers »

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  • 31

    Oct

SPX

S&P 500

$0.00

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, SPY

SPDR S&P 500 ETF Trust

$298.89

2.88 (0.97%)

19:01
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19:01
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Periodicals
Pelosi holds off on House vote over impeachment inquiry, Politico says »

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S&P 500

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SPDR S&P 500 ETF Trust

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PBR

Petrobras

$14.40

0.02 (0.14%)

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  • 25

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SNBR

Sleep Number

$46.69

0.48 (1.04%)

, UAL

United Airlines

$87.90

0.9 (1.03%)

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UAL

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$87.90

0.9 (1.03%)

MCK

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$138.17

4.01 (2.99%)

ABC

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$83.18

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CAH

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$47.93

1.16 (2.48%)

FULT

Fulton Financial

$15.90

0.19 (1.21%)

ETN

Eaton

$82.16

1.29 (1.60%)

SFIX

Stitch Fix

$20.83

-0.38 (-1.79%)

MGM

MGM Resorts

$27.87

-0.1 (-0.36%)

JBHT

J.B. Hunt

$111.65

1.985 (1.81%)

IBKR

Interactive Brokers

$47.43

0.26 (0.55%)

RYTM

Rhythm Pharmaceuticals

$20.90

0.52 (2.55%)

PRQR

ProQR Therapeutics

$6.21

-0.09 (-1.43%)

NTRA

Natera

$39.21

1.01 (2.64%)

PRNB

Principia Biopharma

$29.88

0.7 (2.40%)

X

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$11.43

0.27 (2.42%)

ARCE

Arco Platform

$48.15

0.75 (1.58%)

TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

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KKR

KKR

$26.79

0.67 (2.57%)

, DB

Deutsche Bank

$7.79

0.235 (3.11%)

18:21
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Periodicals
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KKR

KKR

$26.79

0.67 (2.57%)

DB

Deutsche Bank

$7.79

0.235 (3.11%)

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

18:20
10/15/19
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Hot Stocks
Breaking Hot Stocks news story on Tradeweb Markets »

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  • 07

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

18:17
10/15/19
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18:17
10/15/19
18:17
Syndicate
Tradeweb Markets files to sell 14.8M shares of Class A common stock »

Refinitiv will continue…

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

18:16
10/15/19
10/15
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Earnings
Tradeweb Markets sees Q3 adjusted EPS 27c, consensus 25c »

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  • 07

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EDIT

Editas Medicine

$20.30

0.48 (2.42%)

18:15
10/15/19
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Editas Medicine, AskBio enter research collaboration over in vivo delivery »

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WYNN

Wynn Resorts

$114.78

2.43 (2.16%)

18:03
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NV regulators want to ban Steve Wynn from NV casino industry, Reuters says »

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SFIX

Stitch Fix

$20.83

-0.38 (-1.79%)

18:00
10/15/19
10/15
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18:00
Hot Stocks
Stitch Fix director buys 150K shares of common stock »

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NTRA

Natera

$39.21

1.01 (2.64%)

17:48
10/15/19
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10/15/19
17:48
Syndicate
Natera files to sell $175M of common stock »

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AQST

Aquestive Therapeutics

$3.36

0.2 (6.33%)

17:45
10/15/19
10/15
17:45
10/15/19
17:45
Earnings
Aquestive backs FY19 revenue $38M-$45M, consensus $42.82M »

Aquestive Therapeutics…

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