FormFactor Sees Unusually High Options Volume (NASDAQ:FORM)

Key Points

• FormFactor saw unusually large options activity as investors bought 5,997 call options on Friday, about a 1,187% increase versus the average of 466 calls.
• The company beat quarterly estimates with $0.46 EPS (vs. $0.35 expected) and $215.2M in revenue (up 13.6% YoY), and issued Q1 2026 EPS guidance of 0.410–0.490.
• Despite the strong results and a stock price near $122.49, insiders sold roughly 66,276 shares (~$6.0M) in the past 90 days, while analysts' consensus is a "Moderate Buy" with an average target of $83.18, well below the current price.

FormFactor, Inc. (NASDAQ:FORM - Get Free Report) saw unusually large options trading on Friday. Stock investors bought 5,997 call options on the company. This represents an increase of approximately 1,187% compared to the average volume of 466 call options.

FormFactor Trading Up 1.2%

Shares of FORM stock traded up $1.42 during mid-day trading on Friday, reaching $122.49. 567,603 shares of the stock traded hands, compared to its average volume of 1,451,710. The stock's fifty day simple moving average is $94.77 and its two-hundred day simple moving average is $68.25. FormFactor has a 1-year low of $23.78 and a 1-year high of $126.30. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 177.53 and a beta of 1.04. The company has a quick ratio of 3.60, a current ratio of 4.50 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.11. FormFactor had a return on equity of 6.64% and a net margin of 6.93%.The firm had revenue of $215.16 million for the quarter, compared to analyst estimates of $210.29 million. During the same period last year, the firm posted $0.27 earnings per share. The business's revenue for the quarter was up 13.6% on a year-over-year basis. FormFactor has set its Q1 2026 guidance at 0.410-0.490 EPS. On average, research analysts anticipate that FormFactor will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Aric Brendan Mckinnis sold 3,462 shares of the firm's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $90.42, for a total value of $313,034.04. Following the transaction, the chief financial officer owned 11,140 shares in the company, valued at approximately $1,007,278.80. This trade represents a 23.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian C. White sold 5,500 shares of FormFactor stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $90.95, for a total value of $500,225.00. Following the completion of the transaction, the director owned 12,856 shares in the company, valued at approximately $1,169,253.20. This represents a 29.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 66,276 shares of company stock valued at $6,001,771 in the last ninety days. Insiders own 0.90% of the company's stock.

Institutional Trading of FormFactor

Hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in shares of FormFactor during the fourth quarter valued at about $25,000. UMB Bank n.a. lifted its stake in shares of FormFactor by 128.9% in the fourth quarter. UMB Bank n.a. now owns 499 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 281 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of FormFactor in the third quarter worth approximately $25,000. Torren Management LLC acquired a new position in shares of FormFactor in the fourth quarter worth approximately $41,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of FormFactor in the fourth quarter worth approximately $53,000. 98.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on FORM. Zacks Research upgraded FormFactor from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 13th. B. Riley Financial reiterated a "buy" rating on shares of FormFactor in a research report on Thursday, February 5th. Itau BBA Securities upgraded FormFactor to an "outperform" rating in a research report on Tuesday, January 27th. Wall Street Zen upgraded FormFactor from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Finally, TD Cowen lifted their target price on FormFactor from $50.00 to $80.00 and gave the company a "hold" rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.18.

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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