FormFactor Q2 EPS Forecast Boosted by Northland Securities

Key Points

• Northland Securities sharply raised estimates, boosting Q2 2026 EPS to $0.51 (from $0.31) and lifting FY2026 to $2.08 and FY2027 to $1.98, materially raising expected earnings for FormFactor.
• FormFactor beat Q1 with $0.56 EPS versus $0.45 expected and revenue of $226.14M (+31.9% YoY), and management guided Q2 EPS to a range of $0.57–$0.65.
• Analyst views are mixed—Evercore raised its price target to $155 while the consensus target is $121.55—and the stock trades at a high PE (~154), making it sensitive to valuation-driven pullbacks.

FormFactor, Inc. (NASDAQ:FORM - Free Report) - Northland Securities boosted their Q2 2026 EPS estimates for shares of FormFactor in a research report issued on Thursday, April 30th. Northland Securities analyst G. Richard now forecasts that the semiconductor company will post earnings per share of $0.51 for the quarter, up from their previous estimate of $0.31. The consensus estimate for FormFactor's current full-year earnings is $1.52 per share. Northland Securities also issued estimates for FormFactor's Q3 2026 earnings at $0.55 EPS, Q4 2026 earnings at $0.54 EPS, FY2026 earnings at $2.08 EPS, Q3 2027 earnings at $0.53 EPS, Q4 2027 earnings at $0.52 EPS and FY2027 earnings at $1.98 EPS.

Other research analysts also recently issued research reports about the stock. Craig Hallum downgraded shares of FormFactor from a "buy" rating to a "hold" rating in a research note on Thursday. Wall Street Zen raised shares of FormFactor from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Piper Sandler set a $100.00 price target on shares of FormFactor in a research note on Monday, February 2nd. Zacks Research downgraded shares of FormFactor from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of FormFactor in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $121.55.

FormFactor Price Performance

FormFactor stock opened at $134.37 on Tuesday. The firm has a market capitalization of $10.47 billion, a PE ratio of 154.45 and a beta of 1.32. FormFactor has a 12-month low of $26.08 and a 12-month high of $159.09. The firm has a 50-day moving average price of $109.65 and a 200-day moving average price of $79.15. The company has a current ratio of 4.55, a quick ratio of 3.69 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM - Get Free Report) last released its earnings results on Wednesday, April 29th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The firm had revenue of $226.14 million during the quarter, compared to analyst estimates of $225.54 million. FormFactor had a net margin of 8.14% and a return on equity of 9.31%. The business's revenue was up 31.9% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. FormFactor has set its Q2 2026 guidance at 0.570-0.650 EPS.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new position in FormFactor during the 4th quarter valued at about $25,000. UMB Bank n.a. increased its position in FormFactor by 128.9% during the 4th quarter. UMB Bank n.a. now owns 499 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 281 shares during the period. Salomon & Ludwin LLC purchased a new position in FormFactor during the 3rd quarter valued at about $25,000. Torren Management LLC purchased a new position in FormFactor during the 4th quarter valued at about $41,000. Finally, Kestra Advisory Services LLC purchased a new position in FormFactor during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 98.76% of the company's stock.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 11,294 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $57,418,441.80. This trade represents a 2.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dennis Thomas St sold 7,431 shares of the firm's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $93.84, for a total transaction of $697,325.04. Following the transaction, the director directly owned 31,526 shares in the company, valued at $2,958,399.84. This trade represents a 19.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,482 shares of company stock worth $6,438,951 over the last ninety days. 0.79% of the stock is owned by insiders.

Key Headlines Impacting FormFactor

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Northland Securities sharply raised multi-quarter and full‑year EPS forecasts for FORM (Q2–Q4 2026 and FY2026, plus FY2027), effectively boosting FY2026 to $2.08 and FY2027 to $1.98 — a material lift to expected earnings that supports higher valuation and analyst confidence. (Northland revisions consolidated from reports issued April 30)
• Positive Sentiment: Evercore ISI raised its price target to $155 (from $133), signaling greater upside from current levels and reinforcing the analyst-driven buying theme. FORM Raised To $155 As Semiconductor Tailwinds Build
• Positive Sentiment: Zacks highlighted surging earnings-estimate revisions and added FORM to momentum lists (Zacks Rank #1), which can attract short‑term buyers and funds that follow momentum/quant strategies. Surging Earnings Estimates Signal Upside for FormFactor (FORM) Stock Best Momentum Stock to Buy for May 4th
• Neutral Sentiment: Investors can review the Q1 2026 earnings call transcript for management color on demand trends, margin drivers and the guidance range (company reported a Q1 beat and set Q2 guidance), which will determine whether raised estimates are supported by end-market dynamics. FormFactor Q1 2026 Earnings Call Transcript
• Negative Sentiment: Some outlets flagged a sharp intra‑week pullback driven by valuation concerns despite strong YTD and 1‑year performance; that selling shows the stock remains sensitive to sentiment and multiple compression risk after big gains. Why FormFactor Stock Plummeted This Week (The Motley Fool) Why FormFactor Stock Plummeted This Week (Yahoo)

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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