Oct. 10 at 9:28 AM
🚀 B.Riley UPGRADES
$FORM to Buy (from Neutral) & Raises Price Target to
$47.X (from
$34)
Why the bullish shift?
✅ Margin Confidence: New leadership is reinvigorating cost-cutting, boosting confidence in hitting the 47% gross margin target.
✅ Revenue Strength: Defensible lead in DRAM/HBM, plus new wins in Foundry/Logic with
$NVDA and
$AMD.
✅ Tech Tailwinds: Unprecedented 2nm adoption at
$TSMC means more intense probe card demand—a direct benefit for FORM.
Thesis: Improved execution + powerful secular tailwinds.