FormFactor (NASDAQ:FORM) Shares Gap Up - Here's What Happened

Key Points

• FormFactor shares gapped up before the market opened, rising from a previous close of $31.77 to $34.36, and last traded at $35.08 with a trading volume of 232,752 shares.
• Recent ratings from analysts show a downgrade of FormFactor's stock, with Wall Street Zen cutting its rating from "hold" to "sell" and Citigroup lowering its price objective from $36.00 to $31.00.
• FormFactor reported earnings per share (EPS) of $0.27, missing consensus estimates, and expects a Q3 2025 EPS guidance of $0.210-0.290.

FormFactor, Inc. (NASDAQ:FORM - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $31.77, but opened at $34.36. FormFactor shares last traded at $35.08, with a volume of 232,752 shares changing hands.

Analyst Upgrades and Downgrades

FORM has been the subject of a number of research reports. Citigroup restated a "neutral" rating and issued a $31.00 target price (down from $36.00) on shares of FormFactor in a research note on Thursday, August 21st. Stifel Nicolaus lowered their target price on FormFactor from $34.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded FormFactor from a "sell" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, FormFactor presently has an average rating of "Hold" and a consensus target price of $38.29.

FormFactor Trading Down 2.2%

The company has a current ratio of 4.24, a quick ratio of 3.34 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.72 billion, a P/E ratio of 62.91 and a beta of 1.24. The business has a 50 day moving average price of $30.98 and a 200 day moving average price of $30.97.

FormFactor (NASDAQ:FORM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). The company had revenue of $195.80 million during the quarter, compared to the consensus estimate of $190.17 million. FormFactor had a net margin of 5.75% and a return on equity of 5.57%. The business's revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. FormFactor has set its Q3 2025 guidance at 0.210-0.290 EPS. Analysts anticipate that FormFactor, Inc. will post 0.9 EPS for the current year.

Insider Activity at FormFactor

In related news, Director Kelley Steven-Waiss sold 3,600 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $30.43, for a total value of $109,548.00. Following the completion of the transaction, the director directly owned 35,479 shares in the company, valued at approximately $1,079,625.97. The trade was a 9.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rebeca Obregon-Jimenez sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $29.55, for a total value of $118,200.00. Following the completion of the transaction, the director owned 13,126 shares of the company's stock, valued at $387,873.30. This represents a 23.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FormFactor

Institutional investors and hedge funds have recently modified their holdings of the business. Reinhart Partners LLC. grew its position in shares of FormFactor by 64.8% in the 2nd quarter. Reinhart Partners LLC. now owns 1,904,698 shares of the semiconductor company's stock valued at $65,541,000 after purchasing an additional 749,088 shares during the period. GAMMA Investing LLC boosted its position in FormFactor by 52.3% during the 1st quarter. GAMMA Investing LLC now owns 5,279 shares of the semiconductor company's stock worth $149,000 after acquiring an additional 1,813 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in FormFactor by 54.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 162,464 shares of the semiconductor company's stock worth $5,590,000 after acquiring an additional 57,470 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in FormFactor by 104.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,245 shares of the semiconductor company's stock worth $431,000 after acquiring an additional 7,787 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in FormFactor by 2.8% during the 1st quarter. Victory Capital Management Inc. now owns 21,643 shares of the semiconductor company's stock worth $612,000 after acquiring an additional 599 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.