FormFactor (NASDAQ:FORM) Stock Price Target Raised at TD Cowen

FormFactor (NASDAQ:FORM) had its target price upped by research analysts at TD Cowen from $100.00 to $110.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. TD Cowen‘s price target suggests a potential upside of 9.41% from the company’s previous close.

FORM has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of FormFactor in a report on Tuesday, September 22nd. B. Riley Financial reiterated a “buy” rating on shares of FormFactor in a research report on Monday, October 19th. Evercore set a $150.00 target price on shares of FormFactor in a research note on Thursday, July 30th. Zacks Research downgraded shares of FormFactor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on FormFactor in a research note on Wednesday, September 30th. They issued a “buy” rating and a $200.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.67.

FormFactor Stock Performance

FORM traded down $9.78 during trading on Thursday, hitting $100.53. The stock had a trading volume of 1,703,710 shares, compared to its average volume of 1,642,645. The company has a 50 day moving average price of $117.16 and a 200-day moving average price of $113.21. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 68.84 and a beta of 1.18. FormFactor has a one year low of $47.33 and a one year high of $160.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.08 and a quick ratio of 3.34.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.18. FormFactor had a net margin of 12.80% and a return on equity of 13.44%. The business had revenue of $280.55 million during the quarter, compared to analysts’ expectations of $270.52 million. During the same quarter in the previous year, the company earned $0.33 EPS. The business’s revenue was up 38.4% on a year-over-year basis. As a group, research analysts predict that FormFactor will post 2.70 EPS for the current year.

Insider Buying and Selling at FormFactor

In other news, Director Kelley Steven-Waiss sold 2,100 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $96.10, for a total value of $201,810.00. Following the completion of the sale, the director owned 24,426 shares of the company’s stock, valued at approximately $2,347,338.60. This represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mike Slessor sold 17,510 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $104.73, for a total value of $1,833,822.30. Following the transaction, the chief executive officer owned 466,694 shares of the company’s stock, valued at $48,876,862.62. This trade represents a 3.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 46,710 shares of company stock valued at $5,520,564 in the last ninety days. Insiders own 0.79% of the company’s stock.

Institutional Trading of FormFactor

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of FormFactor during the 2nd quarter worth approximately $1,676,772,000. Andar Capital Management HK Ltd acquired a new position in FormFactor during the 2nd quarter valued at about $27,000,000. Bank of America Corp DE purchased a new stake in FormFactor in the 2nd quarter valued at $285,257,000. Primecap Management Co. CA purchased a new position in shares of FormFactor in the 2nd quarter worth approximately $270,300,000. Finally, Bank of New York Mellon Corp purchased a new stake in FormFactor during the second quarter worth about $103,844,000. 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: FormFactor reported record third-quarter revenue of $280.5 million, up 38.4% year over year and 8.6% sequentially. Adjusted EPS was $1.04, exceeding the $0.86 consensus estimate, while revenue also topped expectations. FormFactor Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: GAAP results also improved sharply: diluted EPS rose to $0.93 from $0.20 a year earlier, gross margin expanded to 54.7% from 39.8%, and operating cash flow increased to $104.3 million from $27.0 million. Growth was supported by Foundry & Logic, Systems, and co-packaged optics demand. FormFactor Reports 2026 Third Quarter Results
• Positive Sentiment: Management said broad-based demand remains strong and outlined a potential $400 million annual probe-card capacity exit rate by 2027 as its Farmers Branch facility ramps, supporting the longer-term semiconductor and AI-related growth outlook. FormFactor Outlines Probe Card Capacity Expansion
• Neutral Sentiment: FormFactor forecast fourth-quarter revenue of approximately $285 million, plus or minus $10 million. While this implies continued growth, investors may have expected a larger outlook increase after the third-quarter beat.
• Negative Sentiment: Fourth-quarter GAAP diluted EPS guidance of $0.84, plus or minus $0.09, is below the third quarter’s $0.93, potentially raising concerns about sequential earnings pressure despite solid revenue expectations.
• Negative Sentiment: The stock’s elevated valuation—about 69 times earnings—left little room for disappointment, and the shares fell after hours despite the strong results. Reports also noted substantial insider selling, including sales by CEO Mike Slessor, which may have added to investor caution.

FormFactor Company Profile

FormFactor, Inc is a semiconductor test and measurement company that designs and manufactures equipment and components used to evaluate integrated circuits during the wafer fabrication and production process. Its products help semiconductor manufacturers and suppliers measure electrical performance, identify defects and improve the development and manufacturing of advanced chips.

The company’s portfolio includes probe cards used for wafer-level testing, as well as probe stations, analytical systems and related accessories for semiconductor engineering and production applications.