FormFactor (NASDAQ:FORM) Hits New 12-Month High After Strong Earnings

FormFactor, Inc. (NASDAQ:FORM) shares reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $86.75 and last traded at $82.1940, with a volume of 852876 shares changing hands. The stock had previously closed at $71.57.

The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. FormFactor had a return on equity of 6.64% and a net margin of 6.93%.The business had revenue of $215.16 million for the quarter, compared to analysts’ expectations of $210.29 million. During the same period in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. FormFactor has set its Q1 2026 guidance at 0.410-0.490 EPS.

FormFactor News Roundup

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Q4 beat and HBM-driven strength — FORM reported Q4 EPS of $0.46 vs. consensus $0.35 and revenue of $215.16M (up ~13.6% YoY); management highlighted record HBM demand as a growth driver. Read More.
• Positive Sentiment: Raised Q1/2026 outlook — Management set Q1 EPS guidance of $0.410–$0.490 and revenue guidance of $220–$230M, well above Street estimates, signaling stronger near‑term revenue and margin expansion. Read More.
• Positive Sentiment: Analyst support — Citi raised its price target to $98 with a Buy rating, reinforcing the bullish case after the quarter and expectations for continued HBM/data‑center strength. Read More.
• Neutral Sentiment: Investor briefings and transcripts available — The full earnings‑call transcript and slide presentation provide color on product demand, supply chain cadence and margin drivers for investors doing deeper due diligence. Read More.
• Negative Sentiment: Mixed analyst signals — Evercore raised its target to $80 but kept an “in‑line” rating; that target sits below the recent market price, which could temper upside for some investors. Read More.
• Negative Sentiment: Short‑term skepticism in some coverage — A few outlets noted that despite beats and guidance, shares briefly dipped in parts of the session, reflecting profit‑taking or cautious positioning by some investors. Read More.

Analyst Upgrades and Downgrades

Several research firms have commented on FORM. Freedom Capital upgraded shares of FormFactor to a “hold” rating in a report on Tuesday, January 27th. TD Cowen raised their price target on FormFactor from $50.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday. Loop Capital set a $64.00 target price on FormFactor in a research report on Tuesday, January 27th. DA Davidson set a $55.00 target price on FormFactor in a research note on Thursday, October 30th. Finally, Evercore upped their target price on shares of FormFactor from $50.00 to $80.00 and gave the company an “in-line” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.91.

Insider Transactions at FormFactor

In related news, Director Dennis Thomas St sold 2,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $49.85, for a total value of $99,700.00. Following the completion of the transaction, the director owned 38,957 shares of the company’s stock, valued at approximately $1,942,006.45. The trade was a 4.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelley Steven-Waiss sold 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $55.97, for a total transaction of $151,119.00. Following the transaction, the director directly owned 32,779 shares in the company, valued at $1,834,640.63. The trade was a 7.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 73,466 shares of company stock valued at $4,683,377 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On FormFactor

A number of large investors have recently bought and sold shares of FORM. Salomon & Ludwin LLC purchased a new stake in FormFactor during the 3rd quarter worth $25,000. Torren Management LLC acquired a new position in shares of FormFactor during the fourth quarter worth about $41,000. Jones Financial Companies Lllp boosted its position in shares of FormFactor by 84.4% in the third quarter. Jones Financial Companies Lllp now owns 990 shares of the semiconductor company’s stock worth $35,000 after buying an additional 453 shares during the period. Hantz Financial Services Inc. grew its stake in shares of FormFactor by 547.8% in the third quarter. Hantz Financial Services Inc. now owns 1,043 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 882 shares in the last quarter. Finally, State of Wyoming lifted its position in FormFactor by 18.4% during the 3rd quarter. State of Wyoming now owns 1,680 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

FormFactor Price Performance

The business’s 50 day moving average price is $65.42 and its 200-day moving average price is $47.84. The company has a quick ratio of 3.46, a current ratio of 4.50 and a debt-to-equity ratio of 0.01. The company has a market cap of $7.00 billion, a PE ratio of 130.86 and a beta of 1.11.

About FormFactor

FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.