FormFactor (NASDAQ:FORM) Shares Down 6.4% - Time to Sell?

Key Points

• Shares fell 6.4% to about $145.11 on Monday with volume down ~70% vs. average; the stock trades well above the consensus target of $92.45 and carries a high trailing P/E of 207.68, suggesting rich valuation versus analyst expectations.
• Analyst sentiment is mixed but skewed positive — one Strong Buy, five Buy and seven Hold lead to a consensus rating of “Moderate Buy” and widely varying price targets (recent firm targets range roughly from $50 to $130).
• FormFactor beat quarterly estimates (EPS $0.46 vs. $0.35; revenue $215.2M vs. $210.3M) and gave Q1 2026 EPS guidance of $0.41–$0.49, while insiders have sold about 64,482 shares (~$6.44M) in the past 90 days, including a CEO sale under a 10b5‑1 plan.

FormFactor, Inc. (NASDAQ:FORM - Get Free Report)'s stock price fell 6.4% during trading on Monday . The stock traded as low as $142.58 and last traded at $145.1050. 451,561 shares changed hands during trading, a decline of 70% from the average session volume of 1,513,305 shares. The stock had previously closed at $155.08.

Analyst Ratings Changes

Several research firms recently commented on FORM. Weiss Ratings reiterated a "hold (c)" rating on shares of FormFactor in a research report on Tuesday, April 21st. Freedom Capital upgraded shares of FormFactor to a "hold" rating in a research report on Tuesday, January 27th. TD Cowen lifted their target price on shares of FormFactor from $50.00 to $80.00 and gave the stock a "hold" rating in a research report on Thursday, February 5th. Loop Capital set a $64.00 target price on shares of FormFactor in a research report on Tuesday, January 27th. Finally, B. Riley Financial downgraded shares of FormFactor from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $100.00 to $130.00 in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, FormFactor presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.45.

FormFactor Stock Down 7.6%

The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 207.68 and a beta of 1.04. The company has a current ratio of 4.50, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average price is $106.24 and its 200-day moving average price is $76.38.

FormFactor (NASDAQ:FORM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.11. The firm had revenue of $215.16 million for the quarter, compared to the consensus estimate of $210.29 million. FormFactor had a net margin of 6.93% and a return on equity of 6.64%. The company's revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 EPS. FormFactor has set its Q1 2026 guidance at 0.410-0.490 EPS. On average, sell-side analysts expect that FormFactor, Inc. will post 1.41 earnings per share for the current year.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 11,294 shares of the business'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 transaction, the chief executive officer owned 449,565 shares in the company, valued at approximately $57,418,441.80. The trade was a 2.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian C. White sold 5,500 shares of FormFactor stock in a transaction 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 sale, the director owned 12,856 shares of the company's stock, valued at $1,169,253.20. This represents a 29.96% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 64,482 shares of company stock worth $6,438,951. Company insiders own 0.79% of the company's stock.

Institutional Trading of FormFactor

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of FormFactor in the 3rd quarter valued at $508,000. State of New Jersey Common Pension Fund D increased its stake in shares of FormFactor by 24.8% in the 3rd 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 acquiring an additional 15,186 shares in the last quarter. Reinhart Partners LLC. increased its stake in shares of FormFactor by 26.3% in the 3rd quarter. Reinhart Partners LLC. now owns 2,404,854 shares of the semiconductor company's stock valued at $87,585,000 after acquiring an additional 500,156 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of FormFactor by 68.8% in the 3rd quarter. ProShare Advisors LLC now owns 29,336 shares of the semiconductor company's stock valued at $1,068,000 after acquiring an additional 11,956 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of FormFactor by 20.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 71,583 shares of the semiconductor company's stock valued at $2,607,000 after acquiring an additional 12,161 shares in the last quarter. Institutional investors own 98.76% of the company's stock.

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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