FormFactor (NASDAQ:FORM) Hits New 12-Month High After Better-Than-Expected Earnings

FormFactor, Inc. (NASDAQ:FORM) hit a new 52-week high during trading 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. The stock had previously closed at $71.57.

The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. FormFactor had a return on equity of 6.72% and a net margin of 6.93%.The firm had revenue of $215.16 million for the quarter, compared to the consensus estimate of $210.29 million. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. FormFactor has set its Q1 2026 guidance at 0.410-0.490 EPS.

Key Stories Impacting FormFactor

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Q4 beat and strong guidance — FORM reported Q4 EPS of $0.46 vs. $0.35 expected, revenue of $215.2M (up ~13.6% YoY) and announced Q1 EPS guidance of $0.41–$0.49 and revenue guidance of $220–$230M, well above consensus. The company also flagged record FY25 revenue and continued margin expansion, which is the primary driver of the rally. FormFactor Inc Reports 2025 Fourth Quarter Results
• Positive Sentiment: Analyst support — Citi raised its price target (now $98, buy), signaling institutional confidence and adding upward momentum to the stock. Benzinga
• Positive Sentiment: End-market tailwinds and margin trajectory — management highlighted accelerating demand for HBM and data‑center testing and projected continued gross‑margin expansion, supporting higher near‑term revenue and profit outlook. MSN: FormFactor posts better-than-expected sales
• Neutral Sentiment: Named in stock picks — FormFactor was included in a Forbes piece highlighting stocks positioned for short‑term gains, which may attract additional retail/institutional interest but is not a direct operational catalyst. Forbes: 3 Stocks Positioned For Gains
• Negative Sentiment: Mixed/short‑term market reaction — some reports noted shares briefly fell in early trading despite the beat, suggesting profit‑taking or that parts of the beat/guidance were already anticipated. Zacks: Q4 earnings surpass estimates, shares fall
• Negative Sentiment: Some analyst nuance — Evercore raised its target to $80 but kept an “in‑line” rating (target below the current price), a reminder that not all analysts are projecting large upside from here. The Fly: Evercore raises price target
• Negative Sentiment: Valuation and execution risk — FORM trades at a high P/E, so the stock may be sensitive to any guidance misses, margin pressures, or broader semiconductor cyclicality; investors should weigh growth vs. valuation. MarketBeat: Q4 report & materials

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of FormFactor from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus upped their target price on shares of FormFactor from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday. Zacks Research raised shares of FormFactor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Loop Capital set a $64.00 price target on shares of FormFactor in a research note on Tuesday, January 27th. Finally, Evercore ISI increased their price objective on FormFactor from $50.00 to $80.00 and gave the stock an “in-line” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, FormFactor currently has a consensus rating of “Moderate Buy” and an average price target of $80.91.

Insider Activity

In other FormFactor news, Director Dennis Thomas St sold 2,000 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $49.85, for a total transaction of $99,700.00. Following the sale, the director owned 38,957 shares of the company’s stock, valued at approximately $1,942,006.45. This trade represents a 4.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelley Steven-Waiss sold 2,700 shares of FormFactor stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $55.97, for a total value of $151,119.00. Following the completion of the transaction, the director owned 32,779 shares in the company, valued at $1,834,640.63. This represents a 7.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 73,466 shares of company stock worth $4,683,377. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming grew its stake in FormFactor by 18.4% in the third quarter. State of Wyoming now owns 1,680 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 261 shares during the last quarter. Arizona State Retirement System grew its position in shares of FormFactor by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 22,796 shares of the semiconductor company’s stock worth $830,000 after buying an additional 335 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of FormFactor by 2.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,073 shares of the semiconductor company’s stock worth $897,000 after buying an additional 370 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of FormFactor by 2.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 17,767 shares of the semiconductor company’s stock worth $991,000 after acquiring an additional 408 shares in the last quarter. Finally, Amalgamated Bank lifted its position in FormFactor by 1.9% during the third quarter. Amalgamated Bank now owns 22,420 shares of the semiconductor company’s stock valued at $817,000 after acquiring an additional 411 shares during the last quarter. Institutional investors own 98.76% of the company’s stock.

FormFactor Price Performance

The company has a market cap of $6.50 billion, a PE ratio of 121.55 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.30 and a quick ratio of 3.46. The stock’s 50-day moving average is $64.72 and its 200 day moving average is $47.46.

About FormFactor

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.