Craig Hallum Upgrades FormFactor (NASDAQ:FORM) to "Buy"

Key Points

• Craig Hallum upgraded FormFactor from “hold” to “buy” and set a $175 price target, implying about 15.6% upside from the prior close.
• FormFactor’s latest quarterly results were strong, with EPS of $0.56 beating estimates and revenue of $226.14 million rising 31.9% year over year. The company also guided Q2 2026 EPS to 0.570–0.650.
• Despite the upgrade, Wall Street is still cautious overall: the stock currently has a consensus rating of “Hold” with an average price target of $129.27.

FormFactor (NASDAQ:FORM - Get Free Report) was upgraded by stock analysts at Craig Hallum from a "hold" rating to a "buy" rating in a research report issued on Tuesday, Marketbeat reports. The firm currently has a $175.00 target price on the semiconductor company's stock. Craig Hallum's target price suggests a potential upside of 15.59% from the company's previous close.

Several other equities research analysts have also commented on FORM. Piper Sandler set a $100.00 price target on shares of FormFactor in a research report on Monday, February 2nd. TD Cowen upped their price target on shares of FormFactor from $80.00 to $150.00 and gave the company a "hold" rating in a research report on Thursday, April 30th. Citigroup upped their price target on shares of FormFactor to $165.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of FormFactor from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Finally, Freedom Capital upgraded shares of FormFactor to a "hold" rating in a research note on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $129.27.

FormFactor Price Performance

NASDAQ FORM opened at $151.40 on Tuesday. FormFactor has a one year low of $26.08 and a one year high of $159.09. The stock has a 50-day moving average of $114.51 and a 200 day moving average of $82.83. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 174.02 and a beta of 1.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.69 and a current ratio of 4.55.

FormFactor (NASDAQ:FORM - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. FormFactor had a return on equity of 9.31% and a net margin of 8.14%.The company had revenue of $226.14 million during the quarter, compared to the consensus estimate of $225.54 million. During the same period last year, the company earned $0.23 EPS. FormFactor's revenue for the quarter was up 31.9% on a year-over-year basis. FormFactor has set its Q2 2026 guidance at 0.570-0.650 EPS. On average, sell-side analysts forecast that FormFactor will post 2.03 EPS for the current year.

Insider Activity

In related news, Director Kevin J. Brewer sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $96.20, for a total value of $288,600.00. Following the completion of the sale, the director directly owned 8,105 shares of the company's stock, valued at approximately $779,701. This represents a 27.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian C. White sold 2,300 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $100.01, for a total transaction of $230,023.00. Following the completion of the sale, the director directly owned 10,556 shares of the company's stock, valued at $1,055,705.56. This represents a 17.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 38,947 shares of company stock valued at $4,062,855. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On FormFactor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FORM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in FormFactor by 4.5% in 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 acquiring an additional 2,001 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in FormFactor by 870.3% in the 1st quarter. Jones Financial Companies Lllp now owns 5,288 shares of the semiconductor company's stock worth $150,000 after acquiring an additional 4,743 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in FormFactor by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 490,394 shares of the semiconductor company's stock worth $13,873,000 after acquiring an additional 53,310 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in FormFactor by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,979 shares of the semiconductor company's stock worth $4,922,000 after purchasing an additional 9,394 shares during the period. Finally, Intech Investment Management LLC grew its holdings in FormFactor by 18.1% during the 1st quarter. Intech Investment Management LLC now owns 53,531 shares of the semiconductor company's stock valued at $1,514,000 after buying an additional 8,194 shares in the last quarter. 98.76% of the stock is owned by hedge funds and other 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.

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