Comerica Bank Sells 39,276 Shares of FormFactor, Inc. $FORM

Key Points

• Comerica Bank trimmed its stake in FormFactor by 47.4%, selling 39,276 shares and leaving 43,653 shares valued at about $2.44 million, while institutional ownership stands at roughly 98.76%.
• FormFactor beat Q1 expectations (EPS $0.56 vs. $0.45) and issued Q2 guidance of $0.57–$0.65, prompting analyst upgrades and a recent stock rally (stock up ~7.9% on the report).
• Corporate insiders have been net sellers — CEO Mike Slessor sold 11,294 shares (~$1.44M) and insiders sold 64,482 shares in the past three months — and the stock trades at a rich ~166x P/E, increasing sensitivity to any earnings or guidance misses.

Comerica Bank trimmed its holdings in shares of FormFactor, Inc. (NASDAQ:FORM - Free Report) by 47.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,653 shares of the semiconductor company's stock after selling 39,276 shares during the period. Comerica Bank owned 0.06% of FormFactor worth $2,435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FORM. SG Americas Securities LLC acquired a new position in FormFactor during the third quarter valued at approximately $508,000. State of New Jersey Common Pension Fund D grew its holdings in FormFactor by 24.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 76,376 shares of the semiconductor company's stock valued at $2,782,000 after purchasing an additional 15,186 shares during the period. Reinhart Partners LLC. grew its holdings in FormFactor by 26.3% during the third quarter. Reinhart Partners LLC. now owns 2,404,854 shares of the semiconductor company's stock valued at $87,585,000 after purchasing an additional 500,156 shares during the period. ProShare Advisors LLC grew its holdings in FormFactor by 68.8% during the third quarter. ProShare Advisors LLC now owns 29,336 shares of the semiconductor company's stock valued at $1,068,000 after purchasing an additional 11,956 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in FormFactor by 20.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 71,583 shares of the semiconductor company's stock valued at $2,607,000 after purchasing an additional 12,161 shares during the period. 98.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Mike Slessor sold 11,294 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $127.72, for a total value of $1,442,469.68. Following the completion of the transaction, the chief executive officer owned 449,565 shares in the company, valued at $57,418,441.80. This represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian C. White sold 5,500 shares of the company's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $90.95, for a total transaction of $500,225.00. Following the completion of the transaction, the director owned 12,856 shares of the company's stock, valued at $1,169,253.20. This trade represents a 29.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 64,482 shares of company stock valued at $6,438,951. 0.79% of the stock is owned by corporate insiders.

FormFactor News Summary

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Northland Securities sharply raised its EPS forecasts across multiple quarters and years — boosting Q2–Q4 2026 quarter estimates to roughly $0.51–$0.55, lifting FY2026 to $2.08 (from $1.39), and raising FY2027 to $1.98. The firm’s upward revisions signal stronger near-term profit expectations. (Northland research summarized in filings/newswire)
• Positive Sentiment: FormFactor reported a Q1 beat (Q1 EPS and revenue topped consensus) and provided Q2 2026 guidance of $0.570–$0.650 EPS — supporting the case for continued margin and revenue momentum. (Company Q1 results / guidance)
• Positive Sentiment: Market commentators flagged the estimate revisions as a catalyst. Zacks highlighted “surging earnings estimates” as a reason for upside potential. Article Title
• Positive Sentiment: Zacks also included FORM on a short list of high-momentum (Zacks Rank #1) stocks, which can attract momentum traders and funds. Article Title
• Neutral Sentiment: Investors seeking more detail can read the Q1 2026 earnings call transcript (provides color on demand trends, customer comments and margin outlook). Article Title
• Negative Sentiment: Valuation is rich — FORM trades at a high P/E (~166x) versus historical norms, increasing sensitivity to any earnings or guide-down surprises and raising downside risk if growth slows.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of FormFactor in a report on Tuesday, April 21st. Piper Sandler set a $100.00 price objective on shares of FormFactor in a report on Monday, February 2nd. B. Riley Financial restated a "neutral" rating on shares of FormFactor in a report on Thursday, April 30th. Zacks Research cut shares of FormFactor from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Finally, Stifel Nicolaus set a $135.00 price objective on shares of FormFactor in a report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $121.55.

FormFactor Stock Up 7.9%

FormFactor stock opened at $145.00 on Wednesday. The stock has a market capitalization of $11.30 billion, a PE ratio of 166.67 and a beta of 1.32. FormFactor, Inc. has a twelve month low of $26.08 and a twelve month high of $159.09. The company has a quick ratio of 3.69, a current ratio of 4.55 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $110.66 and a 200-day moving average of $79.87.

FormFactor (NASDAQ:FORM - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. The company had revenue of $226.14 million during the quarter, compared to analysts' expectations of $225.54 million. FormFactor had a net margin of 8.14% and a return on equity of 9.31%. The business's quarterly revenue was up 31.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share. FormFactor has set its Q2 2026 guidance at 0.570-0.650 EPS. On average, equities research analysts anticipate that FormFactor, Inc. will post 2.03 EPS for the current fiscal year.

FormFactor 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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