FormFactor (NASDAQ:FORM) Updates Q3 2026 Earnings Guidance

FormFactor (NASDAQ:FORM) issued an update on its third quarter 2026 earnings guidance on Wednesday. The company provided EPS guidance of 0.770-0.950 for the period, compared to the consensus EPS estimate of 0.600. The company issued revenue guidance of $260.0 million-$280.0 million, compared to the consensus revenue estimate of $246.2 million.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. B. Riley Financial raised FormFactor from a “neutral” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Thursday, June 11th. Zacks Research cut FormFactor from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Stifel Nicolaus set a $135.00 price objective on FormFactor in a report on Thursday, April 30th. Evercore set a $150.00 target price on FormFactor in a report on Thursday. Finally, Citigroup upped their price target on shares of FormFactor to $165.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.45.

FormFactor Price Performance

NASDAQ:FORM traded up $21.17 during trading hours on Thursday, reaching $104.62. 1,692,298 shares of the company were exchanged, compared to its average volume of 1,718,056. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.55 and a quick ratio of 3.69. FormFactor has a 1-year low of $26.08 and a 1-year high of $160.27. The company has a market capitalization of $8.16 billion, a P/E ratio of 119.76 and a beta of 1.22. The business has a 50 day moving average of $124.97 and a 200 day moving average of $111.19.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.21. The business had revenue of $258.24 million during the quarter, compared to the consensus estimate of $240.00 million. FormFactor had a return on equity of 9.31% and a net margin of 8.14%.FormFactor’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS. Research analysts forecast that FormFactor will post 2.03 EPS for the current year.

Insider Activity

In other news, Director Dennis Thomas St sold 2,800 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $151.49, for a total value of $424,172.00. Following the completion of the transaction, the director owned 29,073 shares of the company’s stock, valued at approximately $4,404,268.77. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheri Rhodes sold 6,328 shares of the firm’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 completion of the sale, the director owned 5,375 shares in the company, valued at $674,025. This represents a 54.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 38,534 shares of company stock valued at $4,864,118. Corporate insiders own 0.79% of the company’s stock.

More FormFactor News

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, while EPS of $0.82 exceeded the $0.61 analyst consensus. Revenue, gross profit and earnings reached records, supported by strong DRAM, Foundry & Logic and Systems demand. FormFactor Reports 2026 Second Quarter Results
• Positive Sentiment: Third-quarter guidance was above expectations, with revenue projected at approximately $270 million, plus or minus $10 million, and EPS guidance of $0.77 to $0.95 versus consensus of about $0.60. The outlook reinforced expectations for continued near-term momentum. FormFactor Q3 Forecast
• Positive Sentiment: An expanded multiyear partnership with Keystone Microtech is expected to increase probe-card manufacturing and testing capacity in Taiwan for AI, high-bandwidth memory, advanced packaging and high-speed chip applications. FormFactor also said its Farmers Branch facility ramp is expected to begin in the fourth quarter. FormFactor and Keystone Microtech Partnership
• Neutral Sentiment: Despite the earnings beat and favorable near-term outlook, Needham maintained a Hold rating, citing strong current performance but a back-end-loaded outlook for growth in co-packaged optics. FormFactor Hold Rating
• Negative Sentiment: TD Cowen lowered its price target from $150 to $100 and moved to a Hold rating, implying limited upside based on the cited reference price. The valuation remains demanding, with the stock’s reported price-to-earnings ratio above 120. TD Cowen Price Target Update

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in shares of FormFactor during the 4th quarter valued at about $25,000. UMB Bank n.a. increased its holdings in FormFactor by 128.9% during the 4th quarter. UMB Bank n.a. now owns 499 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 281 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in FormFactor in the 4th quarter valued at $53,000. EverSource Wealth Advisors LLC raised its holdings in shares of FormFactor by 208.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,843 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Wexford Capital LP purchased a new stake in FormFactor in the 3rd quarter valued at about $100,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

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.