FormFactor (NASDAQ:FORM) Price Target Cut to $100.00 by Analysts at TD Cowen

FormFactor (NASDAQ:FORM) had its target price cut by TD Cowen from $150.00 to $100.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a hold rating on the semiconductor company’s stock.

Several other analysts have also recently weighed in on the company. Citigroup boosted their price target on FormFactor to $165.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings lowered shares of FormFactor from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, July 15th. Craig Hallum upgraded shares of FormFactor from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Tuesday, May 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of FormFactor in a report on Monday. Finally, Evercore set a $150.00 price target on shares of FormFactor in a research report on Thursday. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.45.

FormFactor Trading Up 26.3%

NASDAQ FORM opened at $105.38 on Thursday. 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 has a twelve month low of $26.08 and a twelve month high of $160.27. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 72.18 and a beta of 1.22. The business’s fifty day moving average is $124.52 and its 200 day moving average is $111.45.

FormFactor (NASDAQ:FORM) last issued its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.21. FormFactor had a return on equity of 13.69% and a net margin of 12.80%.The business had revenue of $258.24 million for the quarter, compared to analyst estimates of $240.00 million. During the same quarter in the previous year, the company posted $0.27 EPS. FormFactor’s quarterly revenue was up 31.9% compared to the same quarter last year. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS. As a group, sell-side analysts expect that FormFactor will post 2.03 EPS for the current fiscal year.

Insider Activity at FormFactor

In related news, Director Dennis Thomas St sold 2,800 shares of FormFactor stock in a transaction on Monday, June 15th. The shares were sold at an average price of $151.49, for a total transaction of $424,172.00. Following the completion of the transaction, the director owned 29,073 shares of the company’s stock, valued at $4,404,268.77. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mike Slessor sold 11,890 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $121.35, for a total transaction of $1,442,851.50. Following the completion of the transaction, the chief executive officer owned 435,147 shares in the company, valued at approximately $52,805,088.45. The trade was a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 38,534 shares of company stock valued at $4,864,118 over the last 90 days. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FORM. Los Angeles Capital Management LLC bought a new stake in shares of FormFactor during the 4th quarter valued at about $25,000. UMB Bank n.a. increased its holdings in 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 purchasing an additional 281 shares in the last quarter. Torren Management LLC bought a new stake in FormFactor in the fourth quarter worth approximately $41,000. Kestra Advisory Services LLC acquired a new position in FormFactor in the fourth quarter valued at approximately $53,000. Finally, Clearstead Advisors LLC lifted its stake in FormFactor by 58.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,050 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 389 shares during the period. 98.76% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting FormFactor

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: FormFactor reported record second-quarter revenue of $258.2 million, up 31.9% year over year, while adjusted EPS of $0.82 exceeded the $0.61 analyst consensus. Strength in DRAM, HBM, Foundry & Logic, and Systems drove the results. FormFactor Q2 earnings article
• Positive Sentiment: Management issued above-consensus third-quarter guidance, calling for revenue of approximately $260 million to $280 million and EPS of $0.77 to $0.95, versus consensus estimates of $246.2 million and $0.60, respectively. The company also expects its Farmers Branch capacity expansion to begin ramping in the fourth quarter. FormFactor Q3 guidance article
• Positive Sentiment: The earnings call highlighted accelerating AI-related demand, record profitability, capacity expansion, and an expanded multiyear partnership with Keystone Microtech to support testing for AI, HBM, advanced packaging, and high-speed chips. FormFactor earnings call highlights
• Neutral Sentiment: Despite the upbeat operating outlook, valuation remains demanding, with the stock trading at a high earnings multiple. A Zacks comparison also argued that Aehr Test Systems may offer stronger long-term growth because of its record bookings and AI-driven backlog, potentially limiting investor enthusiasm for FORM relative to peers. FORM versus AEHR comparison
• Negative Sentiment: TD Cowen lowered its price target from $150 to $100 and maintained a Hold rating, while Needham also kept a Hold stance, citing strong near-term performance but a more back-end-loaded outlook for certain growth opportunities. FormFactor analyst rating coverage

FormFactor Company Profile

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.