FormFactor (NASDAQ:FORM) Shares Gap Up After Earnings Beat

FormFactor, Inc. (NASDAQ:FORM) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $83.45, but opened at $101.96. FormFactor shares last traded at $102.8490, with a volume of 337,566 shares traded.

The semiconductor company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.21. The business had revenue of $258.24 million during the quarter, compared to analyst estimates of $240.00 million. FormFactor had a net margin of 8.14% and a return on equity of 9.31%. The company’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS.

FormFactor News Roundup

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: FormFactor reported record second-quarter revenue of $258.2 million, up 31.9% year over year, and adjusted earnings of $0.82 per share—well above the $0.61 consensus estimate. Demand was strong across DRAM, Foundry & Logic, and Systems. FormFactor Reports 2026 Second Quarter Results
• Positive Sentiment: Third-quarter guidance exceeded expectations, with projected revenue of $260 million to $280 million versus the $246.2 million consensus and EPS of $0.77 to $0.95 versus $0.60 expected. FormFactor Stock Surges on Better-Than-Expected Q2 Earnings
• Positive Sentiment: The expanded multi-year partnership with Keystone Microtech is intended to increase probe-card manufacturing and testing capacity for AI, HBM, advanced packaging, and high-speed semiconductor applications, supporting FormFactor’s strategic growth prospects. FormFactor and Keystone Microtech Strategic Partnership
• Neutral Sentiment: Needham analyst Charles Shi maintained a Hold rating, saying strong near-term performance is offset by a back-end-loaded outlook for co-packaged optics (CPO) growth. The rating may limit enthusiasm following the earnings beat. FormFactor Rated Hold
• Negative Sentiment: The stock’s elevated valuation—approximately 96 times earnings—leaves little room for disappointment, while reports of continued insider selling could add pressure and encourage profit-taking after its recent rally.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FORM shares. Northland Securities set a $118.00 price objective on shares of FormFactor in a report on Thursday, April 30th. B. Riley Financial raised shares of FormFactor from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Thursday, June 11th. Weiss Ratings cut shares of FormFactor from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 15th. Stifel Nicolaus set a $135.00 price target on shares of FormFactor in a research report on Thursday, April 30th. Finally, Evercore upgraded FormFactor from an “in-line” rating to an “outperform” rating and set a $155.00 price objective for the company in a research report on Friday, June 5th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $132.45.

Insider Transactions at FormFactor

In related news, Director Sheri Rhodes sold 6,328 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $125.40, for a total transaction of $793,531.20. Following the sale, the director directly owned 5,375 shares of the company’s stock, valued at $674,025. This represents a 54.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian C. White sold 3,250 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $126.00, for a total transaction of $409,500.00. Following the sale, the director owned 8,653 shares in the company, valued at approximately $1,090,278. This trade represents a 27.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 38,534 shares of company stock valued at $4,864,118. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in FormFactor during the 4th quarter worth about $25,000. UMB Bank n.a. boosted its stake in shares of FormFactor by 128.9% in the 4th quarter. UMB Bank n.a. now owns 499 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 281 shares during the period. Torren Management LLC purchased a new position in shares of FormFactor in the 4th quarter valued at about $41,000. Kestra Advisory Services LLC acquired a new position in shares of FormFactor during the fourth quarter worth about $53,000. Finally, Clearstead Advisors LLC raised its holdings in FormFactor by 58.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,050 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 389 shares in the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

FormFactor Stock Up 25.0%

The business’s 50 day moving average is $124.97 and its 200-day moving average is $111.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.55 and a quick ratio of 3.69. The company has a market cap of $8.13 billion, a PE ratio of 119.90 and a beta of 1.22.

FormFactor Company Profile

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.