FormFactor is experiencing a sharp cyclical upswing, with revenue accelerating 31.9% year-over-year in 2026Q2 and gross margin expanding 1,350 basis points to 50.7%, reflecting favorable product mix and operating leverage. The company's balance sheet remains c...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue surged 31.9% year-over-year to $258.2M in 2026Q2, with gross margin expanding to 50.7% from 37.2% a year earlier, driving operating income up 370% to $57.8M.
FormFactor reported Q1 revenue of US$226.14 million and net income of US$20.38 million, with Q2 guidance projecting record revenue of US$240 million and higher margins.
The company's leadership in combined electrical and optical testing positions it for future growth in the semiconductor equipment and materials sector.
Investment cases for FormFactor highlight strong fundamentals, valuation multiples, and smart-money flows, indicating bullish sentiment among analysts.
Trailing total returns as of 9/22/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Jul 29, 2026 | $0.82+34.6% vs $0.61 | $258M+7.6% vs $240M |
Q2 2026 Apr 29, 2026 | $0.56+24.4% vs $0.45 | $226M+0.3% vs $226M |
Q1 2026 Feb 4, 2026 | $0.46+31.4% vs $0.35 | $215M+2.2% vs $211M |
Q4 2025 Oct 29, 2025 | $0.33+32.0% vs $0.25 | $203M-3.6% vs $210M |
Bank of America Corp DE bought a new stake in FormFactor, Inc. (NASDAQ: FORM) during the undefined quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,783,638 shares of the semiconductor company's stock, valued at approximately $285,257,000. Bank of America
I maintain a Strong Buy on FormFactor, raising my price target from $134 to $170 due to accelerated earnings growth. FORM beat Q2 2026 expectations with $258.2 million revenue, and $0.82 non-GAAP EPS and guided for another record Q3, highlighting robust multi-segment performance. HBM remains an important growth driver, but GPU and custom ASIC testing have become much more important after FORM qualified its advanced MEMS technology at a leading foundry.
FormFactor is rated Buy, with 26% upside potential to a $145 price target based on earnings growth and a 35x multiple. FORM benefits from rising semiconductor complexity, advanced memory, and optical testing, supporting both revenue growth and a higher-margin product mix. Recent results show strong momentum: Q2 2026 revenues reached $258.2M, GAAP gross margin was 50.7%, and adjusted EPS was $0.82.
AI infrastructure demand is fueling growth in semiconductor equipment, with AMKR, UCTT and FORM offering major price upside.
Benchmark FORM against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for FormFactor, Inc. (FORM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $119.31 | $9.3B | 172.91 | 2.8% | 6.93% | 5.48% | — | |
| $60.62 | $2.86B | -38.12 | 12.74% | -7.43% | -4.91% | — | |
| $275.98 | $13.73B | 99.27 | 1.82% | 11.84% | 6.5% | — | |
| $113.15 | $3.48B | 29.78 | -17.57% | 10.71% | 8.91% | — | |
| $56.14 | $1.96B | -36.45 | 11.61% | -3.97% | -5.61% | — | |
| $149.63 | $6.98B | 143.88 | 15.57% | 7.4% | 5.82% | — |
FormFactor, Inc. (FORM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
FormFactor, Inc. (FORM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jul 29, 2026·SEC
May 19, 2026·SEC
Apr 29, 2026·SEC
Get notified when FORM posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
FormFactor, Inc. (FORM) stock FAQ — growth, dividends, profitability & financials explained
FormFactor, Inc. (FORM) reported $902.2M in revenue for fiscal year 2025. This represents a 1047% increase from $78.7M in 2002.
FormFactor, Inc. (FORM) grew revenue by 2.8% over the past year. Growth has been modest.
Yes, FormFactor, Inc. (FORM) is profitable, generating $115.5M in net income for fiscal year 2025 (6.9% net margin).
FormFactor, Inc. (FORM) has a return on equity (ROE) of 5.5%. This is below average, suggesting room for improvement.
FormFactor, Inc. (FORM) generated $136.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
