FormFactor (NASDAQ:FORM) Sets New 12-Month High Following Strong Earnings

Shares of FormFactor, Inc. (NASDAQ:FORM) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. 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 (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. FormFactor had a return on equity of 5.10% and a net margin of 5.38%.The business had revenue of $215.16 million for the quarter, compared to analyst estimates of $210.29 million. During the same period last year, the company earned $0.27 EPS. FormFactor’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.

Key FormFactor News

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Q4 results beat expectations — GAAP EPS $0.46 vs. ~$0.35 est. and revenue $215.2M vs. ~$210.3M; company also reported record FY25 revenue, with Q4 results exceeding the high end of its outlook. FormFactor, Inc. Reports 2025 Fourth Quarter Results
• Positive Sentiment: Stronger-than-expected Q1 guidance: EPS $0.410–0.490 (well above consensus) and revenue guidance ~ $220–230M (vs. ~$203M consensus); management flagged accelerating HBM and data‑center demand and gross‑margin expansion. FormFactor targets $225M Q1 revenue with continued gross margin expansion as HBM and data center demand accelerate
• Positive Sentiment: Market coverage and analyst enthusiasm: multiple headlines highlight the beat and bullish outlook; at least one shop (Cantor Fitzgerald) has a positive forecast for price appreciation. Cantor Fitzgerald Forecasts Strong Price Appreciation for FormFactor (NASDAQ:FORM) Stock
• Neutral Sentiment: Investors can review the earnings presentation, call transcript and slide deck for customer mix and margin details — useful for confirming whether HBM/data‑center traction will sustain. FormFactor, Inc. 2025 Q4 – Results – Earnings Call Presentation
• Neutral Sentiment: Additional reporter summaries and earnings recaps (Zacks, Investing.com, MSN) echo the beats and guidance; they document the move but add little new fundamental information. FormFactor shares soar as Q4 earnings, revenue top estimates
• Negative Sentiment: Valuation and margin context: shares now trade at a high trailing PE (~149) and the company’s ROE/net margin remain modest; sustained outperformance depends on continued HBM/data‑center demand and margin improvement — factors that can be cyclical.

Analyst Upgrades and Downgrades

FORM has been the topic of several research analyst reports. Stifel Nicolaus set a $75.00 target price on shares of FormFactor in a research note on Thursday. Evercore ISI upped their price target on FormFactor from $50.00 to $80.00 and gave the stock an “in-line” rating in a research report on Thursday. Zacks Research upgraded shares of FormFactor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Itau BBA Securities upgraded FormFactor to an “outperform” rating in a research note on Tuesday, January 27th. Finally, Cantor Fitzgerald lifted their target price on FormFactor from $75.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.20.

Insiders Place Their Bets

In other FormFactor news, Director Kelley Steven-Waiss sold 2,700 shares of the business’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 sale, the director owned 32,779 shares of the company’s stock, valued at approximately $1,834,640.63. The trade was a 7.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis Thomas St sold 2,000 shares of the 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 directly owned 38,957 shares in the company, valued at $1,942,006.45. This represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 73,466 shares of company stock valued at $4,683,377. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FormFactor

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in shares of FormFactor by 170.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,094,421 shares of the semiconductor company’s stock worth $72,069,000 after acquiring an additional 1,319,345 shares during the period. Westfield Capital Management Co. LP acquired a new stake in FormFactor during the third quarter worth about $37,391,000. Shannon River Fund Management LLC purchased a new position in FormFactor during the third quarter worth about $35,260,000. Reinhart Partners LLC. boosted its holdings in FormFactor by 26.3% in the 3rd quarter. Reinhart Partners LLC. now owns 2,404,854 shares of the semiconductor company’s stock valued at $87,585,000 after purchasing an additional 500,156 shares during the last quarter. Finally, Channing Capital Management LLC purchased a new stake in shares of FormFactor in the 3rd quarter valued at approximately $16,909,000. 98.76% of the stock is currently owned by institutional investors and hedge funds.

FormFactor Price Performance

The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 161.99 and a beta of 1.11. The stock’s fifty day moving average price is $64.12 and its 200-day moving average price is $47.20. The company has a current ratio of 4.30, a quick ratio of 3.46 and a debt-to-equity ratio of 0.01.

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.