FormFactor (NASDAQ:FORM) Shares Gap Up – Here’s Why

FormFactor, Inc. (NASDAQ:FORM) shares gapped up before the market opened on Thursday . The stock had previously closed at $71.99, but opened at $75.90. FormFactor shares last traded at $76.3750, with a volume of 154,585 shares trading hands.

Key Stories Impacting FormFactor

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Zacks Research raised multiple near-term EPS estimates and the firm’s FY outlook for FORM, and upgraded the stock to a “Strong-Buy” — Zacks bumped FY2026 EPS to $0.95 (from $0.88) and raised Q1/Q2/Q3 and FY2027 quarter estimates, signaling improving analyst confidence in the company’s near-term profitability. Zacks Research Note
• Positive Sentiment: Other recent analyst actions (upgrades/raised targets from firms including Citi, B. Riley and Stifel) and a skew of buy/hold ratings have supported momentum and likely contributed to buying interest. MarketBeat Analyst Coverage
• Neutral Sentiment: FormFactor confirmed its fiscal Q4 2025 earnings release and webcast for Feb. 4, 2026 — an event that will be a near-term catalyst (could drive further moves depending on results and guidance). Earnings Date Notice
• Neutral Sentiment: Media coverage highlighting why FORM is “soaring” today is amplifying attention; that can attract momentum traders but may not reflect fundamentals until results or guidance confirm the upgrade-driven expectations. MSN Coverage
• Negative Sentiment: CEO Mike Slessor sold 13,088 shares on Jan. 15 (part of a series of recent insider sales), which investors may view as a mild negative signal on insider conviction despite his remaining large holding. SEC filing: SEC Form 4

Analysts Set New Price Targets

A number of analysts recently commented on FORM shares. Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $31.00 to $62.00 in a research report on Thursday, October 30th. TD Cowen increased their price objective on shares of FormFactor from $35.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, October 30th. B. Riley restated a “buy” rating on shares of FormFactor in a research report on Thursday. Wall Street Zen upgraded shares of FormFactor from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, Cantor Fitzgerald assumed coverage on shares of FormFactor in a research report on Tuesday, November 18th. They set an “overweight” rating and a $75.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.88.

FormFactor Stock Performance

The business has a 50 day moving average price of $57.83 and a two-hundred day moving average price of $43.55. The stock has a market cap of $6.07 billion, a P/E ratio of 150.60 and a beta of 1.12. The company has a quick ratio of 3.46, a current ratio of 4.30 and a debt-to-equity ratio of 0.01.

Insider Activity

In other news, Director Kelley Steven-Waiss sold 2,700 shares of the business’s 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 transaction, the director owned 32,779 shares of the company’s stock, valued at approximately $1,834,640.63. The trade was a 7.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 13,088 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $76.81, for a total transaction of $1,005,289.28. Following the transaction, the chief executive officer owned 472,907 shares of the company’s stock, valued at approximately $36,323,986.67. This represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,466 shares of company stock worth $4,683,377 over the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Several large investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D raised its holdings in shares of FormFactor by 9.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 61,190 shares of the semiconductor company’s stock worth $2,106,000 after buying an additional 5,295 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in FormFactor in the 2nd quarter valued at $583,000. Bessemer Group Inc. increased its stake in FormFactor by 25.0% in the second quarter. Bessemer Group Inc. now owns 431,321 shares of the semiconductor company’s stock worth $14,841,000 after purchasing an additional 86,277 shares during the period. Edgestream Partners L.P. bought a new stake in shares of FormFactor during the second quarter worth $4,715,000. Finally, Atria Investments Inc purchased a new stake in shares of FormFactor during the second quarter valued at $218,000. 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.