FormFactor (NASDAQ:FORM) Releases Q3 2026 Earnings Guidance

FormFactor (NASDAQ:FORM) updated its third quarter 2026 earnings guidance on Wednesday morning. The company provided EPS 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.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FORM shares. Craig Hallum raised FormFactor from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Tuesday, May 12th. Cantor Fitzgerald restated an “overweight” rating on shares of FormFactor in a research note on Monday. Zacks Research downgraded shares of FormFactor from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings lowered shares of FormFactor from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Finally, Northland Securities set a $118.00 target price on shares of FormFactor in a research note on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.45.

FormFactor Trading Down 5.4%

Shares of FORM traded down $4.78 during midday trading on Wednesday, hitting $83.45. The stock had a trading volume of 2,446,218 shares, compared to its average volume of 1,718,285. 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 simple moving average of $125.81 and a two-hundred day simple moving average of $111.06. The firm has a market cap of $6.51 billion, a P/E ratio of 95.92 and a beta of 1.22. 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 issued its earnings results on Wednesday, July 29th. The semiconductor company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.61 by $0.21. FormFactor had a return on equity of 9.31% and a net margin of 8.14%.The business had revenue of $258.24 million during the quarter, compared to analysts’ expectations of $240.00 million. During the same quarter last year, the firm posted $0.27 earnings per share. FormFactor’s revenue was up 31.9% compared to the same quarter last year. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS. As a group, equities analysts forecast that FormFactor will post 2.03 EPS for the current year.

Insider Transactions at FormFactor

In other news, Director Dennis Thomas St sold 2,800 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $151.49, for a total transaction of $424,172.00. Following the transaction, the director owned 29,073 shares in the company, valued at $4,404,268.77. This represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rebeca Obregon-Jimenez sold 3,828 shares of FormFactor stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $126.47, for a total transaction of $484,127.16. Following the completion of the transaction, the director owned 7,875 shares in the company, valued at $995,951.25. This trade represents a 32.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,534 shares of company stock valued at $4,864,118 in the last ninety days. 0.79% of the stock is currently owned by insiders.

Key Headlines Impacting FormFactor

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: FormFactor reported second-quarter revenue of $258.2 million, up 31.9% year over year and above analysts’ $240 million estimate. Adjusted EPS was reported at $0.82, exceeding the $0.61 consensus estimate. Revenue, gross profit and EPS all reached records. FormFactor Stock Surges on Better-Than-Expected Q2 Earnings
• Positive Sentiment: Management issued third-quarter revenue guidance of $260 million to $280 million, with a midpoint of $270 million versus the $246.2 million analyst consensus. EPS guidance of $0.77 to $0.95 also substantially exceeds the $0.60 consensus estimate, providing the main catalyst for the stock’s upward move. FormFactor Reports 2026 Second Quarter Results
• Positive Sentiment: Demand was strong across DRAM, foundry and logic, and systems markets. GAAP gross margin improved to 50.7% from 37.3% a year earlier, while operating cash flow reached $61.8 million and free cash flow was $52.6 million.
• Positive Sentiment: FormFactor expanded its multi-year partnership with Keystone Microtech, increasing probe-card manufacturing and testing capacity in Taiwan for AI, high-bandwidth memory, advanced packaging and high-speed semiconductor applications. FormFactor and Keystone Microtech Strategic Partnership
• Negative Sentiment: Company insiders have reported selling shares rather than buying during the past six months, including substantial sales by the CEO. This may create a modest sentiment overhang, although the insider activity predates the latest earnings report.

Institutional Trading of FormFactor

A number of institutional investors and hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of FormFactor during the fourth quarter valued at $25,000. UMB Bank n.a. increased its position in FormFactor by 128.9% in the fourth quarter. UMB Bank n.a. now owns 499 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 281 shares during the period. Kestra Advisory Services LLC bought a new stake in FormFactor during the 4th quarter worth about $53,000. EverSource Wealth Advisors LLC raised its holdings in FormFactor by 208.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,843 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Wexford Capital LP acquired a new position in FormFactor during the 3rd quarter valued at about $100,000. 98.76% of the stock is currently 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.