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.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FORM. Stifel Nicolaus cut their price objective on FormFactor from $34.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday, July 31st. Citigroup restated a "neutral" rating and set a $31.00 price target (down from $36.00) on shares of FormFactor in a research note on Thursday, August 21st. Finally, Wall Street Zen upgraded FormFactor from a "sell" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $38.29.

FormFactor Stock Performance

The stock has a market cap of $2.91 billion, a P/E ratio of 67.34 and a beta of 1.24. The stock has a fifty day simple moving average of $30.98 and a 200-day simple moving average of $30.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.34 and a current ratio of 4.24.

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

Insider Buying and Selling

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

Institutional Trading of FormFactor

Several institutional investors have recently modified their holdings of the business. Earnest Partners LLC grew its stake in shares of FormFactor by 0.3% in the first quarter. Earnest Partners LLC now owns 6,055,121 shares of the semiconductor company's stock worth $171,299,000 after purchasing an additional 18,039 shares during the last quarter. Bank of America Corp DE lifted its holdings in FormFactor by 4.0% in the second quarter. Bank of America Corp DE now owns 2,806,905 shares of the semiconductor company's stock valued at $96,586,000 after buying an additional 108,487 shares during the period. Bank of New York Mellon Corp lifted its holdings in FormFactor by 170.2% in the second quarter. Bank of New York Mellon Corp now owns 2,094,421 shares of the semiconductor company's stock valued at $72,069,000 after buying an additional 1,319,345 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in FormFactor by 82.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,963,727 shares of the semiconductor company's stock valued at $55,554,000 after buying an additional 885,617 shares during the period. Finally, Reinhart Partners LLC. lifted its holdings in FormFactor by 64.8% in the second quarter. Reinhart Partners LLC. now owns 1,904,698 shares of the semiconductor company's stock valued at $65,541,000 after buying an additional 749,088 shares during the period. Institutional investors own 98.76% of the company's stock.

FormFactor Company Profile

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.