FormFactor, Inc. (FORM) Stock Price & Analysis
FormFactor, Inc. (FORM) closed at USD 95.03 on Thursday, October 22, 2026, down 15.29% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 112.18; the Oct 22, 2026 session ranged USD 94.6–105.14 on volume of 1,385,680 shares. Market capitalization is $7.42B, with a 52-week range of USD 40.6–160.27 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:21 UTC.
Also available as compact Markdown for AI agents: nexqual.com/FORM.md
Key facts (FORM)
- Last four reported quarters (through Jun 27, 2026): revenue $902M, net income $115M (12.8% margin), free cash flow $136M (SEC filings).
- 3 of 80 tracked superinvestors hold FORM (13F, Q2 2026): 2 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 15 Form 4 filings, $13.6M; 8 not under a Rule 10b5-1 plan ($3.6M); 8 by opportunistic insiders (1 outside 10b5-1 plans), 2 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.40 on a 1–5 scale) (10 analysts), mean target USD 152.22 (range 100–200).
- Total return with dividends: 1Y +121.8% vs S&P 500 +14.9%; 5Y +155.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.86, revenue estimate $271M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (FORM)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $770M | $748M | $663M | $764M | $785M | $902M |
| Gross profit | $323M | $296M | $259M | $308M | $309M | — |
| Operating income | $98.0M | $54.9M | $82.8M | $64.8M | $57.1M | $116M |
| Net income | $83.9M | $50.7M | $82.4M | $69.6M | $54.4M | $115M |
| EPS (diluted) | $1.06 | $0.65 | $1.05 | $0.89 | $0.69 | — |
| Free cash flow | $72.9M | $66.5M | $8.6M | $79.1M | $11.7M | $136M |
| Gross margin | 41.9% | 39.6% | 39.0% | 40.3% | 39.3% | — |
| Operating margin | 12.7% | 7.3% | 12.5% | 8.5% | 7.3% | 12.9% |
| Net margin | 10.9% | 6.8% | 12.4% | 9.1% | 6.9% | 12.8% |
| Revenue growth | +11.0% | -2.8% | -11.3% | +15.2% | +2.8% | — |
| Cash + short-term investments | $276M | $238M | $328M | $360M | $275M | — |
| Total debt | $24.4M | $15.4M | $14.4M | $13.3M | $12.2M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 27, 2026) (FORM)
P/E at fiscal year-ends: Dec 2025 80.4x, Dec 2024 49.6x, Dec 2023 39.6x.
Superinvestors (SEC 13F-HR, Q2 2026) (FORM)
3 of 80 tracked investors hold FORM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $17.0M | Reduced -41.0% |
| Lee Ainslie | Maverick Capital | 0.01% | $728K | New position |
| Polen Capital | Polen Capital Management | <0.01% | $574K | New position |
Insider sales (SEC Form 4, open-market, last ~7 months) (FORM)
7 of 15 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-14 | Slessor Mike | CEO | 11,098 | $1.4M | 2.4% | Yes (adopted August 19, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-16 | Slessor Mike | CEO | 17,510 | $1.8M | 3.6% | Yes (adopted August 19, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-03 | Steven-Waiss Kelley | Director | 2,100 | $202K | 7.9% | No | Too little history (no open-market trades in 2023) |
| 2026-08-14 | Slessor Mike | CEO | 16,002 | $2.1M | 3.2% | Yes (adopted August 19, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-15 | Slessor Mike | CEO | 4,735 | $560K | 1.1% | Yes (adopted August 19, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-15 | St Dennis Thomas | Director | 2,800 | $424K | 9% | No | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-06-10 | Slessor Mike | CEO | 11,890 | $1.4M | 2.7% | Yes (adopted August 19, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-02 | Rhodes Sheri | Director | 6,328 | $794K | 54.1% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-21 | Obregon-Jimenez Rebeca | Director | 3,828 | $484K | 32.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-20 | White Brian C | Director | 3,250 | $410K | 27.3% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-19 | St Dennis Thomas | Director | 1,000 | $116K | 3% | No | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-05-15 | Steven-Waiss Kelley | Director | 5,400 | $678K | 17.7% | No | Too little history (no open-market trades in 2023) |
| 2026-05-13 | Titinger Jorge | Director | 4,009 | $516K | 22.9% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-13 | Slessor Mike | CEO | 9,438 | $1.2M | 2.1% | Yes (adopted August 19, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-15 | Slessor Mike | CEO | 11,294 | $1.4M | 2.5% | Yes (adopted August 19, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (FORM)
Consensus Buy (mean 2.40 on a 1–5 scale), 10 analysts; mean target USD 152.22 (low 100, high 200).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Freedom Capital Markets | Maintained | Hold | $140 |
| 2026-10-05 | Freedom Capital Markets | Target raised | Hold | $64 → $140 |
| 2026-09-30 | Deutsche Bank | Initiated | Buy | $200 |
| 2026-07-30 | TD Cowen | Target lowered | Hold | $150 → $100 |
| 2026-07-30 | Evercore ISI Group | Target lowered | Outperform | $155 → $150 |
Total return (dividends reinvested) (FORM)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +121.8% | +155.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +122.4% | +20.6% |
| Volatility (annualized) | 86.7% | 55.7% |
| Max drawdown | -47.8% (Jun 2026→Jul 2026) | -61.0% (Jul 2024→Mar 2025) |
FORM revenue by business segment (quarter ended Jun 27, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Probe Cards | $209.7M | 81.2% | +29.4% |
| Systems | $48.5M | 18.8% | +44.1% |
| Total revenue | $258.2M | 100% | — |
FORM revenue by product line (quarter ended Jun 27, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Foundry & Logic | $121.8M | 47.2% | +22.4% |
| DRAM | $85.0M | 32.9% | +49.0% |
| Flash | $2.9M | 1.1% | -48.4% |
| Total revenue | $258.2M | 100% | — |
FORM revenue by region (quarter ended Jun 27, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Taiwan | $94.4M | 36.6% | +78.6% |
| South Korea | $73.4M | 28.4% | +28.5% |
| United States | $38.2M | 14.8% | -6.6% |
| China | $16.9M | 6.5% | +79.7% |
| Europe | $9.5M | 3.7% | +30.6% |
| Malaysia | $9.1M | 3.5% | +76.0% |
| Singapore | $6.7M | 2.6% | +0.9% |
| Rest of World | $5.2M | 2.0% | +203.3% |
| Japan | $4.8M | 1.9% | -67.2% |
| Total revenue | $258.2M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
FORM suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Related party | FICT | “We engage in transactions with FICT, a related party and a supplier, in the normal course of business and at arm's length.” |
| Competitor | Tokyo Electron | “Our primary competitors in the probe station market are MPI Corporation, Shenzhen Senmeixieer Technology Co., Ltd ("Semishare"), STAr Technologies, Inc., Tokyo Electron Limited ("TEL"), and Wentworth Laboratories, Inc. We believe that the primary competitive factors in the probe station market are measurement accuracy and versatility at temperature, including cryogenic temperatures, measurement speed, automation f…” |
Quoted from the company's 10-K filed Feb 20, 2026.
FORM customer concentration
In the period ended Jun 27, 2026, 2 direct customers each accounted for at least 10% (24.3%, 11%) of revenue, per the company's 10-Q filed Aug 4, 2026. The company does not name them.
FORM analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.86 | $0.62 | +38.2% | $270.5M | 7 |
| Next quarter (ends Dec 2026) | $0.81 | $0.64 | +26.4% | $278.3M | 7 |
| Current fiscal year (ends Dec 2026) | $3.06 | $2.44 | +25.5% | $1.03B | 8 |
| Next fiscal year (ends Dec 2027) | $3.87 | $2.79 | +38.7% | $1.22B | 8 |
FORM options: expected move
Options price a move of about ±20.2% (±$19.05) by Nov 20, 2026, which includes earnings on Oct 28, 2026. Over the last 8 reports the stock moved ±14.2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 89.0% | ±20.2% |
| Dec 18, 2026 | 56 | 80.0% | ±25.5% |
| Jan 15, 2027 | 84 | 74.9% | ±29.1% |
| Apr 16, 2027 | 175 | 75.5% | ±41.7% |
30-day implied volatility 87.2% vs 88% realized over the last 30 trading days. Put/call ratio (volume) 2.42. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:21 UTC)
| Price | USD 95.03 |
|---|---|
| Change | ▼ 15.29% (down) |
| Previous Close | USD 112.18 |
| Open | USD 103.48 |
| Day Range | USD 94.6 – 105.14 |
| 52-Week Range | USD 40.6 – 160.27 |
| Volume | 1,385,680 shares |
| Market Cap | $7.42B |
| Exchange | NMS |
Technical Analysis (FORM)
Nexqual's technical model rates FORM "SELL" based on 2 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:21 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 33.8 (neutral) |
| vs SMA50 | Below (USD 119.34) |
| MACD | -4.77 (negative) |
Analyst Ratings (FORM)
Wall Street analysts rate FORM "Buy" based on 10 analysts, with a mean price target of USD 152.22 (range USD 100–200), per Nexqual as of October 23, 2026 at 09:21 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 10 |
| Mean Target | USD 152.22 |
| High Target | USD 200 |
| Low Target | USD 100 |
| Buy / Hold / Sell | 6 / 4 / 0 |
Earnings (FORM)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 0.86 |
| Revenue Estimate | $270.52M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.82 vs est 0.61 ▲ beat |
| 2026-03-31 | USD 0.56 vs est 0.44 ▲ beat |
| 2025-12-31 | USD 0.46 vs est 0.35 ▲ beat |
| 2025-09-30 | USD 0.33 vs est 0.25 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Financials & Fundamentals (FORM)
| Total Revenue | $902.23M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +31.90% |
| Gross Margin | +46.18% |
| Operating Margin | +24.12% |
| Profit Margin | +12.80% |
| ROE | +10.99% |
| Debt / Equity | 0.03 |
| Current Ratio | 4.08 |
| Total Cash | $345.64M |
| Total Debt | $29.91M |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Ownership (FORM)
| Insider Ownership | +0.72% |
|---|---|
| Institutional Ownership | +95.30% |
| Shares Outstanding | 78.12M |
| Float | 77.47M |
| Short % of Float | +5.94% |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Leadership (FORM)
FormFactor, Inc. is led by Michael D. Slessor, CEO, President & Director, per Nexqual as of October 23, 2026 at 09:21 UTC.
| CEO, President & Director | Michael D. Slessor |
|---|---|
| Senior VP & CFO | Aric McKinnis |
| Senior Vice President of Global Operations | Missy Figueroa |
| Senior Vice President & Chief Commercial Officer | Aasutosh Dave |
Major Backers & Investors (FORM)
Notable institutional backers of FormFactor, Inc. include Earnest Partners LLC, Polar Capital Holdings PLC, Bank of America Corporation, according to Nexqual as of October 23, 2026 at 09:21 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Earnest Partners LLC | 4.83% |
| Polar Capital Holdings PLC | 2.75% |
| Bank of America Corporation | 2.29% |
| Primecap Management Company | 2.17% |
| Invesco | 2.02% |
| Capitol Series Trust-FullerThaler Behavioral Small-Cap Growth Fund | 1% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 13.45% |
| Vanguard Group | 11.23% |
| State Street | 3.31% |
| Geode Capital | 2.35% |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Legal & Regulatory Risks from FormFactor, Inc.'s Latest 10-K (filed 2026-02-20)
- Our business is subject to complex and evolving data privacy and security laws, regulations, and industry standards, and our failure to comply could materially and adversely affect our business, financial condition, and results of operations.
- We might be subject to claims of infringement of other parties' proprietary rights.
- Our failure to comply with environmental laws and regulations could subject us to significant fines and liabilities, and new laws and regulations or changes in regulatory interpretation or enforcement could make compliance more difficult and costly.
Source: SEC EDGAR 10-K, Item 1A, official filing.
Peers & Related Stocks
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| AMKR | Amkor Technology, Inc. | USD 39.05 | ▼ 10.7% |
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| NVMI | Nova Ltd. | USD 310.13 | ▼ 6.37% |
| CAMT | Camtek Ltd. | USD 119.48 | ▼ 10.23% |
| KLIC | Kulicke and Soffa Industries, I | USD 73.4 | ▼ 9.86% |
| ACMR | ACM Research, Inc. | USD 49.12 | ▼ 10.18% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:21 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt