FormFactor (NASDAQ:FORM) Issues Q3 2026 Earnings Guidance

FormFactor (NASDAQ:FORM) issued an update on its third quarter 2026 earnings guidance on Wednesday morning. The company provided earnings per share 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.

FormFactor Stock Up 2.4%

Shares of FORM stock traded up $2.54 on Friday, hitting $107.92. 465,917 shares of the stock were exchanged, compared to its average volume of 1,714,261. The firm has a market capitalization of $8.41 billion, a P/E ratio of 74.05 and a beta of 1.22. FormFactor has a fifty-two week low of $26.08 and a fifty-two week high of $160.27. The business has a 50-day moving average of $124.52 and a 200 day moving average of $111.45. The company has a current ratio of 4.55, a quick ratio of 3.69 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, July 29th. The semiconductor company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.21. FormFactor had a return on equity of 13.69% and a net margin of 12.80%.The business had revenue of $258.24 million for the quarter, compared to analyst estimates of $240.00 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. FormFactor’s revenue was up 31.9% on a year-over-year basis. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS. Equities analysts anticipate that FormFactor will post 2.03 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on FORM. Weiss Ratings downgraded FormFactor from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Evercore set a $150.00 price objective on shares of FormFactor in a research note on Thursday. Stifel Nicolaus set a $135.00 price objective on shares of FormFactor in a report on Thursday, April 30th. TD Cowen decreased their target price on shares of FormFactor from $150.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Zacks Research cut shares of FormFactor from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.45.

Insider Transactions at FormFactor

In related news, Director Sheri Rhodes sold 6,328 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $125.40, for a total transaction of $793,531.20. Following the sale, the director owned 5,375 shares in the company, valued at $674,025. The trade was a 54.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian C. White sold 3,250 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $126.00, for a total value of $409,500.00. Following the sale, the director owned 8,653 shares in the company, valued at approximately $1,090,278. This trade represents a 27.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 38,534 shares of company stock valued at $4,864,118. 0.79% of the stock is owned by company insiders.

Trending Headlines about FormFactor

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: FormFactor’s second-quarter revenue rose 31.9% year over year to $258.2 million, exceeding the $240 million consensus estimate. Adjusted EPS of $0.82 also surpassed expectations of $0.61, compared with $0.27 a year earlier. FormFactor Q2 earnings report
• Positive Sentiment: Management’s third-quarter outlook is above Wall Street expectations, calling for revenue of $260 million to $280 million and EPS of $0.77 to $0.95, versus consensus estimates of $246.2 million and $0.60, respectively. The Farmers Branch capacity ramp is expected to begin in the fourth quarter. FormFactor Q3 outlook
• Positive Sentiment: AI and high-performance computing demand is driving growth, particularly for high-bandwidth memory and advanced semiconductor applications. FormFactor also expanded its multiyear partnership with Keystone Microtech, increasing testing support in Taiwan for AI, HBM, advanced packaging and high-speed chips. FormFactor Keystone partnership
• Positive Sentiment: Profitability improved sharply, with GAAP gross margin reaching 50.7%, compared with 37.3% a year earlier, while operating cash flow was $61.8 million and free cash flow was $52.6 million. FormFactor second-quarter results
• Neutral Sentiment: Analyst opinion is mixed. Needham maintained a Hold rating, while TD Cowen lowered its price target from $150 to $100 and also rated the shares Hold, citing valuation and a slower, back-end-loaded outlook for co-packaged optics growth. FormFactor analyst ratings
• Negative Sentiment: A Zacks comparison concluded that Aehr Test Systems currently offers better long-term growth potential because of record bookings, an AI-driven backlog and an expanding burn-in product portfolio, potentially limiting investor enthusiasm for FORM relative to peers. FORM versus AEHR comparison

Hedge Funds Weigh In On FormFactor

A number of hedge funds have recently made changes to their positions in FORM. Los Angeles Capital Management LLC bought a new stake in FormFactor in the fourth quarter valued at $25,000. UMB Bank n.a. grew its stake in shares of FormFactor by 128.9% in the 4th quarter. UMB Bank n.a. now owns 499 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 281 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of FormFactor in the 4th quarter valued at about $53,000. EverSource Wealth Advisors LLC increased its position in FormFactor by 208.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,843 shares of the semiconductor company’s stock valued at $63,000 after buying an additional 1,246 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in FormFactor by 46.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,641 shares of the semiconductor company’s stock valued at $151,000 after buying an additional 841 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.

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.