FormFactor (NASDAQ:FORM) Price Target Lowered to $100.00 at TD Cowen

FormFactor (NASDAQ:FORM) had its price target lowered by analysts at TD Cowen from $150.00 to $100.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price objective suggests a potential downside of 6.26% from the stock’s current price.

FORM has been the topic of a number of other reports. B. Riley Financial upgraded FormFactor from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Thursday, June 11th. Weiss Ratings downgraded shares of FormFactor from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Northland Securities set a $118.00 price target on shares of FormFactor in a report on Thursday, April 30th. Stifel Nicolaus set a $135.00 price objective on shares of FormFactor in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of FormFactor in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, FormFactor currently has an average rating of “Moderate Buy” and a consensus price target of $127.45.

FormFactor Trading Up 27.8%

Shares of FORM stock traded up $23.23 during mid-day trading on Thursday, hitting $106.68. 1,074,982 shares of the company’s stock were exchanged, compared to its average volume of 1,712,930. FormFactor has a fifty-two week low of $26.08 and a fifty-two week high of $160.27. The stock has a 50-day simple moving average of $124.97 and a two-hundred day simple moving average of $111.19. 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 stock has a market cap of $8.32 billion, a price-to-earnings ratio of 122.76 and a beta of 1.22.

FormFactor (NASDAQ:FORM) last released its earnings results on Wednesday, July 29th. The semiconductor company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.21. The firm had revenue of $258.24 million during the quarter, compared to the consensus estimate of $240.00 million. FormFactor had a net margin of 8.14% and a return on equity of 9.31%. FormFactor’s revenue was up 31.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS. Equities analysts expect that FormFactor will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 11,890 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $121.35, for a total transaction of $1,442,851.50. Following the sale, the chief executive officer directly owned 435,147 shares in the company, valued at approximately $52,805,088.45. This represents a 2.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rebeca Obregon-Jimenez sold 3,828 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $126.47, for a total transaction of $484,127.16. Following the transaction, the director directly owned 7,875 shares of the company’s stock, valued at approximately $995,951.25. This trade represents a 32.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 38,534 shares of company stock worth $4,864,118. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FormFactor by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,072 shares of the semiconductor company’s stock valued at $1,303,000 after buying an additional 2,001 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of FormFactor by 870.3% in the first quarter. Jones Financial Companies Lllp now owns 5,288 shares of the semiconductor company’s stock worth $150,000 after buying an additional 4,743 shares during the period. Goldman Sachs Group Inc. lifted its position in FormFactor by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 490,394 shares of the semiconductor company’s stock worth $13,873,000 after buying an additional 53,310 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of FormFactor by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,979 shares of the semiconductor company’s stock worth $4,922,000 after purchasing an additional 9,394 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of FormFactor by 18.1% during the 1st quarter. Intech Investment Management LLC now owns 53,531 shares of the semiconductor company’s stock valued at $1,514,000 after purchasing an additional 8,194 shares in the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

Key FormFactor News

Here are the key news stories impacting FormFactor this week:

• Positive Sentiment: Q2 results beat expectations: FormFactor reported adjusted EPS of $0.82, versus the $0.61 consensus estimate, while revenue rose 31.9% year over year to $258.24 million, exceeding expectations of $240 million. The company cited strong demand across DRAM, Foundry & Logic, and Systems. FormFactor 2026 Second Quarter Results
• Positive Sentiment: Above-consensus Q3 outlook: Management expects third-quarter EPS of $0.77-$0.95, compared with the $0.60 analyst consensus, and revenue of $260 million-$280 million versus expectations of $246.2 million. The forecast supports investor confidence that semiconductor testing demand remains strong. FormFactor Q3 2026 Forecast
• Positive Sentiment: AI and advanced-chip capacity expansion: FormFactor expanded its multi-year partnership with Keystone Microtech, increasing probe-card manufacturing and testing capabilities in Taiwan for AI, HBM, advanced packaging, and high-speed chips. The Farmers Branch facility is expected to begin ramping in the fourth quarter. FormFactor and Keystone Microtech Partnership
• Neutral Sentiment: Analyst remains cautious: Needham maintained a Hold rating, arguing that strong near-term performance is offset by a back-end-loaded outlook for growth in chiplet and co-packaged optics markets. This may limit additional upside despite the earnings beat. FormFactor Hold Rating
• Negative Sentiment: Insider-selling overhang: Recent data shows FormFactor insiders reported sales but no purchases over the past six months. While these transactions may reflect personal liquidity decisions, they could weigh on sentiment, particularly given the stock’s elevated valuation.

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.