FormFactor (NASDAQ:FORM) Updates Q3 2026 Earnings Guidance

Key Points

• FormFactor raised its Q3 2026 guidance to EPS of $0.77–$0.95 and revenue of $260 million–$280 million, both above analysts’ estimates of $0.60 EPS and $246.2 million in revenue.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $132.45, although shares fell 5.7% to $83.19 in Wednesday trading.
• Company insiders have sold 38,534 shares worth approximately $4.86 million over the past 90 days, while institutional investors continue to hold a substantial 98.76% stake in FormFactor.

FormFactor (NASDAQ:FORM - Get Free Report) issued an update on its third quarter 2026 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.770-0.950 for the period, compared to the consensus estimate of 0.600. The company issued revenue guidance of $260.0 million-$280.0 million, compared to the consensus revenue estimate of $246.2 million.

Wall Street Analyst Weigh In

FORM has been the topic of several recent analyst reports. TD Cowen upped their price objective on shares of FormFactor from $80.00 to $150.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. B. Riley Financial raised shares of FormFactor from a "neutral" rating to a "buy" rating and set a $165.00 target price for the company in a research note on Thursday, June 11th. Craig Hallum upgraded FormFactor from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a report on Tuesday, May 12th. Evercore upgraded FormFactor from an "in-line" rating to an "outperform" rating and set a $155.00 price objective on the stock in a report on Friday, June 5th. Finally, Weiss Ratings downgraded FormFactor from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.45.

FormFactor Trading Down 5.7%

Shares of FORM traded down $5.04 during mid-day trading on Wednesday, hitting $83.19. The company had a trading volume of 2,439,930 shares, compared to its average volume of 1,718,059. FormFactor has a 1-year low of $26.08 and a 1-year high of $160.27. The business's 50-day simple moving average is $125.81 and its 200-day simple moving average is $111.06. The stock has a market cap of $6.49 billion, a PE ratio of 95.62 and a beta of 1.22. The company has a quick ratio of 3.69, a current ratio of 4.55 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.11. FormFactor had a net margin of 8.14% and a return on equity of 9.31%. The company had revenue of $226.14 million for the quarter, compared to analyst estimates of $225.54 million. During the same quarter last year, the business earned $0.23 EPS. FormFactor's revenue for the quarter was up 31.9% on a year-over-year basis. Sell-side analysts forecast that FormFactor will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Sheri Rhodes sold 6,328 shares of FormFactor stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $125.40, for a total value of $793,531.20. Following the transaction, the director owned 5,375 shares in the company, valued at approximately $674,025. This trade represents a 54.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian C. White sold 3,250 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $126.00, for a total value of $409,500.00. Following the sale, the director directly owned 8,653 shares of the company's stock, valued at approximately $1,090,278. This trade represents a 27.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 38,534 shares of company stock worth $4,864,118. Corporate insiders own 0.79% of the company's stock.

Institutional Trading of FormFactor

A number of institutional investors and hedge funds have recently bought and sold shares of FORM. Holocene Advisors LP purchased a new stake in FormFactor during the second quarter worth approximately $261,000. Cim Investment Management Inc. purchased a new position in shares of FormFactor in the 4th quarter valued at $255,000. Zacks Investment Management acquired a new position in shares of FormFactor during the 4th quarter valued at $241,000. Numerai GP LLC acquired a new position in shares of FormFactor during the 3rd quarter valued at $239,000. Finally, Fieldview Capital Management LLC purchased a new stake in FormFactor during the 4th quarter worth $208,000. Institutional investors and hedge funds own 98.76% of the company's stock.

About FormFactor

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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