Analyst Insight: Citigroup Inc. Drops FormFactor, Inc's Price Target by $5 (C,FORM)

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Citigroup Inc. (NYSE:C) has cut FormFactor, Inc's (NASDAQ:FORM) target price from $23 to $18 with a new 2012 EPS of about $1 and about $8 net cash. Citigroup maintains a Buy rating on shares of the semiconductor wafer probe cards manufacturer. SmarTrend alerted subscribers to take profits in FormFactor on April 27, 2010 at $17.33; since then the stock fell 43.4%. We are now watching for any positive developments that could result in a new uptrend signal. FormFactor is currently below its 50-day moving average (MA) of $11.49 and below its 200-day MA of $16.39. In the last five trading sessions, the 50-day MA has fallen 2.59% while the 200-day MA has slid 1.6%. Shares of the company are trading down 12.62% Wednesday afternoon at $9.76.