FormFactor (NASDAQ:FORM) Shares Gap Down – Here’s Why

Posted by Brian Himes on Aug 5th, 2026

FormFactor, Inc. (NASDAQ:FORM – Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $106.20, but opened at $101.32. FormFactor shares last traded at $109.2850, with a volume of 293,978 shares.

Key FormFactor News

Here are the key news stories impacting FormFactor this week:

Positive Sentiment: Strong quarterly performance and outlook: FormFactor reported record second-quarter revenue of $258.2 million, up 31.9% year over year, while non-GAAP EPS reached $0.82 and exceeded expectations. Management also projected approximately $270 million in third-quarter revenue, suggesting another record quarter supported by demand for high-bandwidth memory, co-packaged optics, DRAM, foundry and logic products. Why FormFactor (FORM) Stock Is Up Today
Positive Sentiment: Broad analyst estimate increases: Northland Securities raised its FormFactor EPS forecasts across the next several quarters. Estimates increased to $0.78 for Q3 2026, $0.73 for Q4 2026, $2.70 for fiscal 2026, and $2.76 for fiscal 2027, up from $2.08 previously. Forecasts for Q1, Q2, Q3 and Q4 2027 were also raised to $0.63, $0.74, $0.73 and $0.68, respectively. These revisions indicate stronger expected demand and profitability.
Positive Sentiment: Rating upgrade: Zacks upgraded FormFactor to Rank #1, or “Strong Buy,” reflecting improving expectations for the company’s earnings growth. All You Need to Know About FormFactor Rating Upgrade to Strong Buy
Neutral Sentiment: Despite the favorable revisions, FormFactor trades at a relatively elevated valuation, with a reported price-to-earnings ratio above 80. That valuation may leave the stock sensitive to any slowdown in semiconductor demand or disappointment in future guidance.
Negative Sentiment: Reported insider-trading data showed sales by company executives and directors, with no open-market purchases over the prior six months. While such sales may reflect compensation or portfolio diversification, they can temper investor sentiment.

Analysts Set New Price Targets

FORM has been the topic of several research analyst reports. Weiss Ratings lowered FormFactor from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Evercore set a $150.00 price objective on FormFactor in a report on Thursday, July 30th. TD Cowen lowered their target price on shares of FormFactor from $150.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, July 30th. Citigroup lifted their target price on shares of FormFactor to $165.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of FormFactor in a research note on Monday, July 27th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.45.

View Our Latest Analysis on FORM

FormFactor Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.08 and a quick ratio of 3.34. The company has a 50 day moving average price of $123.34 and a 200 day moving average price of $112.28. The firm has a market cap of $9.38 billion, a PE ratio of 82.40 and a beta of 1.25.

FormFactor (NASDAQ:FORM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 13.44% and a net margin of 12.80%.The company’s revenue for the quarter was up 31.9% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. FormFactor has set its Q3 2026 guidance at 0.770-0.950 EPS. Sell-side analysts expect that FormFactor, Inc. will post 2.27 EPS for the current fiscal year.

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 11,890 shares of the stock in a transaction dated 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 directly owned 435,147 shares of the company’s stock, valued at $52,805,088.45. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sheri Rhodes sold 6,328 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $125.40, for a total transaction of $793,531.20. Following the transaction, the director directly owned 5,375 shares of the company’s stock, valued at $674,025. This represents a 54.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 38,534 shares of company stock valued at $4,864,118. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On FormFactor

A number of large investors have recently modified their holdings of FORM. Los Angeles Capital Management LLC acquired a new position in FormFactor during the fourth quarter worth $25,000. USA Financial Formulas purchased a new position in FormFactor in the first quarter worth $46,000. UMB Bank n.a. lifted 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 valued at $28,000 after acquiring an additional 281 shares during the period. Torren Management LLC purchased a new stake in shares of FormFactor during the 4th quarter worth $41,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of FormFactor during the 4th quarter worth $53,000. 98.76% of the stock is owned by hedge funds and other institutional investors.

FormFactor Company Profile

(Get Free Report)

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.