Northland Securities Lifts Earnings Estimates for FormFactor

Key Points

• Northland Securities raised its Q1 2027 EPS estimate for FormFactor to $0.45 (from $0.39) and set Q2 2027 at $0.49 after the company reported a Q1 beat of $0.56 EPS and ~32% year‑over‑year revenue growth.
• Analyst sentiment is mixed: Citigroup lifted its price target to $165 with a "buy" rating, but the MarketBeat consensus remains a Hold with a $121.55 target, and the stock's elevated forward P/E (~158) raises valuation risk.
• Insiders have been net sellers (64,482 shares worth about $6.44M in the last 90 days) while institutional ownership is very high (~98.8%), which may temper insider-signal interpretation.

FormFactor, Inc. (NASDAQ:FORM - Free Report) - Analysts at Northland Securities lifted their Q1 2027 earnings per share (EPS) estimates for FormFactor in a research note issued to investors on Thursday, April 30th. Northland Securities analyst G. Richard now expects that the semiconductor company will earn $0.45 per share for the quarter, up from their prior forecast of $0.39. The consensus estimate for FormFactor's current full-year earnings is $1.52 per share. Northland Securities also issued estimates for FormFactor's Q2 2027 earnings at $0.49 EPS.

A number of other analysts have also recently commented on FORM. Citigroup upped their price target on FormFactor to $165.00 and gave the stock a "buy" rating in a research report on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of FormFactor in a research report on Tuesday, April 21st. Wall Street Zen upgraded FormFactor from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Piper Sandler set a $100.00 target price on FormFactor in a research report on Monday, February 2nd. Finally, Stifel Nicolaus set a $135.00 target price on FormFactor in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $121.55.

FormFactor Stock Performance

Shares of FORM opened at $137.43 on Monday. The company has a quick ratio of 3.69, a current ratio of 4.55 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $109.65 and a two-hundred day simple moving average of $79.15. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 157.97 and a beta of 1.32. FormFactor has a 52 week low of $26.08 and a 52 week high of $159.09.

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

Insider Activity at FormFactor

In related news, Director Dennis Thomas St sold 7,431 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $93.84, for a total transaction of $697,325.04. Following the completion of the transaction, the director directly owned 31,526 shares of the company's stock, valued at approximately $2,958,399.84. This represents a 19.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aric Brendan Mckinnis sold 3,462 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $90.42, for a total value of $313,034.04. Following the transaction, the chief financial officer directly owned 11,140 shares of the company's stock, valued at approximately $1,007,278.80. The trade was a 23.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 64,482 shares of company stock valued at $6,438,951 in the last 90 days. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FormFactor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FORM. Salomon & Ludwin LLC bought a new position in FormFactor during the third quarter valued at approximately $25,000. Los Angeles Capital Management LLC bought a new position in FormFactor during the fourth quarter valued at approximately $25,000. UMB Bank n.a. boosted its stake in FormFactor by 128.9% during the fourth quarter. UMB Bank n.a. now owns 499 shares of the semiconductor company's stock valued at $28,000 after buying an additional 281 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in FormFactor by 84.4% during the third quarter. Jones Financial Companies Lllp now owns 990 shares of the semiconductor company's stock valued at $35,000 after buying an additional 453 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in FormFactor by 547.8% during the third quarter. Hantz Financial Services Inc. now owns 1,043 shares of the semiconductor company's stock valued at $38,000 after buying an additional 882 shares during the last quarter. 98.76% of the stock is owned by institutional investors.

Key Headlines Impacting FormFactor

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Q1 beat and growth: FormFactor reported stronger-than-expected Q1 results with EPS of $0.56 (vs. ~$0.45 consensus), revenue up ~32% year-over-year and margin expansion driven by probe-card strength and DRAM demand — the beat and fundamentals spurred a sizable stock rally. FormFactor NASDAQ: FORM Reports Q1
• Positive Sentiment: Strong forward guide: Management set Q2 EPS guidance of $0.57–$0.65 and revenue guidance of $235M–$245M, both well above Street expectations — this guidance underpins a re‑rating tied to AI and memory node demand. Zacks: FORM Q1 Earnings Beat
• Positive Sentiment: Earnings-call tone: Management flagged margin-driven upside and durable end-market pull from AI and DRAM, suggesting operating leverage that could support higher profitability going forward. TipRanks: Earnings Call Signals Margin-Driven Upswing
• Neutral Sentiment: Analyst stance mixed: Some firms applaud the results but are cautious on valuation — Needham kept a Hold rating, arguing that long-term growth is intact but the current price already reflects much of the outlook. TipRanks: Hold Rating
• Neutral Sentiment: Momentum signals: Market/composite ratings have improved (composite rating rising into the high 90s), reflecting short‑term technical and fundamental momentum. MSN: Composite Rating Rises
• Negative Sentiment: Valuation risk: Multiple commentaries note a resetting narrative — strong AI-driven growth is priced in and FormFactor’s forward P/E is elevated, creating downside risk if growth or margins disappoint. Yahoo: Assessing Valuation After Record Q1

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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