FormFactor (NASDAQ:FORM) Issues Q4 2026 Earnings Guidance

FormFactor (NASDAQ:FORM) updated its fourth quarter 2026 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.860-1.040 for the period, compared to the consensus earnings per share estimate of 0.790. The company issued revenue guidance of $275.0 million-$295.0 million, compared to the consensus revenue estimate of $278.4 million.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings raised FormFactor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Stifel Nicolaus set a $115.00 price objective on FormFactor in a research report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft began coverage on FormFactor in a research note on Wednesday, September 30th. They set a “buy” rating and a $200.00 target price for the company. TD Cowen raised their target price on FormFactor from $100.00 to $110.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Wall Street Zen lowered shares of FormFactor from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 9th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $139.73.

FormFactor Stock Performance

Shares of NASDAQ FORM traded down $6.98 during trading hours on Friday, reaching $90.48. The stock had a trading volume of 318,635 shares, compared to its average volume of 1,643,100. 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 has a market cap of $7.05 billion, a price-to-earnings ratio of 41.52 and a beta of 1.18. The firm has a 50-day moving average of $116.81 and a 200-day moving average of $113.36. FormFactor has a fifty-two week low of $47.33 and a fifty-two week high of $160.27.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. FormFactor had a net margin of 17.72% and a return on equity of 18.88%. The firm had revenue of $280.55 million during the quarter, compared to the consensus estimate of $270.52 million. During the same quarter in the prior year, the firm earned $0.33 EPS. FormFactor’s revenue for the quarter was up 38.4% on a year-over-year basis. Equities research analysts predict that FormFactor will post 2.70 earnings per share for the current year.

Insider Buying and Selling at FormFactor

In other FormFactor news, CEO Mike Slessor sold 11,098 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $125.20, for a total transaction of $1,389,469.60. Following the completion of the transaction, the chief executive officer owned 455,596 shares in the company, valued at approximately $57,040,619.20. This represents a 2.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kelley Steven-Waiss sold 2,100 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $96.10, for a total transaction of $201,810.00. Following the completion of the sale, the director owned 24,426 shares of the company’s stock, valued at $2,347,338.60. This trade represents a 7.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 46,710 shares of company stock valued at $5,520,564. Corporate insiders own 0.79% of the company’s stock.

FormFactor News Roundup

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Record Q3 results: Revenue rose 38.4% year over year to $280.5 million, while non-GAAP EPS of $1.04 exceeded the $0.86 consensus estimate. Revenue, gross margin and earnings all surpassed the high end of management’s prior outlook, supported by demand for probe cards, DRAM, photonics systems and co-packaged optics. FormFactor’s Q3 Earnings Beat Estimates, Revenues Increase Y/Y
• Positive Sentiment: Constructive longer-term expansion: FormFactor expects its Farmers Branch, Texas facility to help drive approximately $400 million in annual probe-card capacity by 2027, potentially easing current production limitations as the site ramps. FormFactor outlines $400M annual probe card capacity exit-rate by 2027
• Positive Sentiment: Favorable analyst ranking: FORM was added to the Zacks Rank #1, or “Strong Buy,” list, providing some support for the company’s growth and earnings outlook. New Strong Buy Stocks for October 30th
• Neutral Sentiment: Q4 guidance exceeded earnings expectations: The company forecasts EPS of $0.86–$1.04 versus the $0.79 consensus and revenue of $275 million–$295 million versus the $278.4 million consensus. However, the midpoint implies only modest sequential revenue growth.
• Negative Sentiment: Capacity and margin concerns: Management said productivity gains are moderating as its existing manufacturing footprint nears capacity limits. Q4 gross margin is expected to fall to about 54.0% at the midpoint from 54.7% in Q3, while ramp-related inefficiencies at the Texas facility may restrict near-term profitability. FormFactor Slides as Strong Q3 Results Are Overshadowed by Tepid Near-Term Outlook
• Negative Sentiment: Valuation and trading signals: TD Cowen raised its price target to $110 but maintained a “hold” rating. Separately, reported insider activity showed 45 sales and no purchases over the past six months, which may add to investor caution.

About FormFactor

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.