FormFactor (NASDAQ:FORM) Updates Q1 2026 Earnings Guidance

FormFactor (NASDAQ:FORM) updated its first quarter 2026 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.410-0.490 for the period, compared to the consensus earnings per share estimate of 0.270. The company issued revenue guidance of $220.0 million-$230.0 million, compared to the consensus revenue estimate of $202.8 million.

FormFactor Price Performance

Shares of FormFactor stock traded down $3.12 during mid-day trading on Wednesday, reaching $71.57. 1,936,548 shares of the stock were exchanged, compared to its average volume of 1,537,582. FormFactor has a fifty-two week low of $22.58 and a fifty-two week high of $85.49. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 137.64 and a beta of 1.11. The firm has a 50-day simple moving average of $63.76 and a 200 day simple moving average of $47.03. 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 (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, February 4th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. The firm had revenue of $215.16 million for the quarter, compared to analysts’ expectations of $210.29 million. FormFactor had a net margin of 5.38% and a return on equity of 5.10%. FormFactor has set its Q1 2026 guidance at 0.410-0.490 EPS. On average, sell-side analysts predict that FormFactor will post 0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FORM shares. B. Riley restated a “buy” rating on shares of FormFactor in a research note on Thursday, January 15th. Itau BBA Securities raised shares of FormFactor to an “outperform” rating in a research note on Tuesday, January 27th. Piper Sandler set a $100.00 price target on shares of FormFactor in a research note on Monday. Northland Securities set a $44.00 price target on shares of FormFactor in a report on Thursday, October 30th. Finally, Citigroup upped their price objective on FormFactor from $62.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Insider Activity

In other news, Director Kelley Steven-Waiss sold 2,700 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $55.97, for a total transaction of $151,119.00. Following the completion of the transaction, the director directly owned 32,779 shares in the company, valued at approximately $1,834,640.63. The trade was a 7.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis Thomas St sold 2,000 shares of the company’s 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 sale, the director directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,466 shares of company stock valued at $4,683,377 in the last 90 days. 0.96% of the stock is owned by company insiders.

Key FormFactor News

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Q4 results and FY25: FormFactor reported Q4 results that beat estimates and delivered record FY25 revenue of $785.0M, with management saying Q4 revenue, gross margin and EPS exceeded the high end of guidance and expecting continued strength in Q1’26. FormFactor, Inc. Reports 2025 Fourth Quarter Results
• Positive Sentiment: Earnings beat details and investor materials: GAAP EPS of $0.46 topped the $0.35 consensus and revenue of $215.16M beat the $210.29M estimate; management provided a slide deck and press release for more detail. Q4 Press Release / Slide Deck
• Positive Sentiment: Analyst sentiment improving: Several analyst notes and a Cantor Fitzgerald write-up flagged upside potential and rising confidence ahead of/after the print, supporting a constructive medium-term view. Cantor Fitzgerald Forecasts Strong Price Appreciation for FormFactor (NASDAQ:FORM) Stock
• Neutral Sentiment: Analyst and media previews: Multiple previews and analyst roundups discussed FormFactor as a semiconductor name exposed to AI/5G/HBM tailwinds — useful context but not immediate catalysts. A Glimpse of FormFactor’s Earnings Potential
• Neutral Sentiment: Short-interest note shows no actionable change (reported values are effectively zero), so short activity is not a clear driver today.
• Negative Sentiment: Market reaction / sector weakness: Despite the beat, FORM traded down alongside peer semiconductor names — likely profit-taking, rotation, and broader sector pressure outweighing the positive fundamentals in the near term. Photronics, Nova, FormFactor, Amkor, and Applied Materials stocks trade down, what you need to know

Hedge Funds Weigh In On FormFactor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its position in shares of FormFactor by 0.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 86,885 shares of the semiconductor company’s stock valued at $2,988,000 after buying an additional 507 shares in the last quarter. California State Teachers Retirement System raised its position in shares of FormFactor by 0.7% during the second quarter. California State Teachers Retirement System now owns 71,563 shares of the semiconductor company’s stock worth $2,462,000 after purchasing an additional 521 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of FormFactor by 208.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,843 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 1,246 shares in the last quarter. Sora Investors LLC grew its position in shares of FormFactor by 1.2% in the 3rd quarter. Sora Investors LLC now owns 113,538 shares of the semiconductor company’s stock valued at $4,135,000 after purchasing an additional 1,384 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in FormFactor by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,072 shares of the semiconductor company’s stock worth $1,303,000 after purchasing an additional 2,001 shares in the last quarter. 98.76% of the stock is owned by institutional investors.

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.