Connor Clark & Lunn Investment Management Ltd. Takes $60.47 Million Position in FormFactor, Inc. $FORM

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of FormFactor, Inc. (NASDAQ:FORM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 378,075 shares of the semiconductor company’s stock, valued at approximately $60,466,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.48% of FormFactor as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of FORM. Keating Financial Advisory Services Inc. bought a new position in shares of FormFactor in the second quarter worth approximately $25,000. Los Angeles Capital Management LLC bought a new stake in shares of FormFactor during the fourth quarter valued at approximately $25,000. UMB Bank n.a. increased its position in shares of FormFactor by 128.9% during the fourth quarter. UMB Bank n.a. now owns 499 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 281 shares in the last quarter. Torren Management LLC purchased a new position in FormFactor in the 4th quarter worth approximately $41,000. Finally, Persistent Asset Partners Ltd purchased a new position in FormFactor in the 2nd quarter worth approximately $43,000. 98.76% of the stock is currently owned by institutional investors.

FormFactor News Roundup

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Zacks increased its Q3 2026 EPS estimate to $0.78 from $0.48 and its FY2026 forecast to $2.68 from $1.99. Estimates for FY2027 rose to $3.11 from $2.19, while FY2028 increased to $3.39 from $2.47. These revisions signal stronger expected demand and profitability for FormFactor’s semiconductor testing business.
• Positive Sentiment: Quarterly estimates were also raised materially: Q4 2026 EPS increased to $0.70 from $0.53, Q1 2027 to $0.70 from $0.47, Q2 2027 to $0.75 from $0.58, and Q3 2027 to $0.85 from $0.56. Q1 and Q2 2028 estimates were lifted to $0.80 and $0.82, respectively.
• Neutral Sentiment: The upgrades are especially significant because the current full-year consensus estimate is $2.70 per share, close to Zacks’ revised FY2026 forecast. Investors may therefore view the revisions as supportive of longer-term growth but may wait for the company’s results and guidance to confirm the outlook.
• Negative Sentiment: FormFactor shares have decreased despite the favorable analyst revisions. The stock’s elevated valuation—approximately 78 times earnings—may be limiting enthusiasm, as investors could be taking profits or demanding stronger near-term results before assigning additional upside.

FormFactor Stock Performance

Shares of FORM stock opened at $114.16 on Monday. FormFactor, Inc. has a 12-month low of $27.81 and a 12-month high of $160.27. The company has a current ratio of 4.08, a quick ratio of 3.34 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $122.39 and its 200 day moving average is $116.48. The stock has a market capitalization of $8.90 billion, a P/E ratio of 78.19 and a beta of 1.25.

FormFactor (NASDAQ:FORM) last announced its earnings results on Wednesday, July 29th. The semiconductor company reported $0.82 earnings per share 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 analyst estimates of $240.00 million. FormFactor had a net margin of 12.80% and a return on equity of 13.44%. The company’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS. Research analysts expect that FormFactor, Inc. will post 2.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FORM has been the topic of several recent analyst reports. Evercore set a $150.00 target price on FormFactor in a research note on Thursday, July 30th. B. Riley Financial upgraded 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. Weiss Ratings raised FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Craig Hallum raised FormFactor from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Tuesday, May 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of FormFactor in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, FormFactor presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.45.

Insider Activity at FormFactor

In other FormFactor news, Director Dennis Thomas St sold 2,800 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $151.49, for a total value of $424,172.00. Following 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, CEO Mike Slessor sold 16,002 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $130.95, for a total value of $2,095,461.90. Following the completion of the transaction, the chief executive officer directly owned 484,204 shares in the company, valued at $63,406,513.80. The trade was a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 37,020 shares of company stock worth $4,756,017. 0.79% of the stock is owned by insiders.

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.