FORM Stock - FormFactor, Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $763.60M | $663.10M | $747.94M | $769.67M | $693.62M |
| Gross Profit | $307.92M | $258.58M | $296.01M | $322.77M | $287.92M |
| Gross Margin | 40.3% | 39.0% | 39.6% | 41.9% | 41.5% |
| Operating Income | $64.78M | $82.76M | $54.91M | $98.04M | $83.79M |
| Net Income | $69.61M | $82.39M | $50.74M | $83.92M | $78.52M |
| Net Margin | 9.1% | 12.4% | 6.8% | 10.9% | 11.3% |
| EPS | $0.90 | $1.06 | $0.65 | $1.08 | $1.02 |
FormFactor, Inc. designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies. It also provides probing systems for semiconductor design engineers to capture and analyze accurate data; surface metrology systems for the development, production, and quality control of semiconductor products; thermal subsystems, such as thermal chucks and other test systems used in probe stations and other applications; and precision cryogenic instruments, semiconductor tests, and measurement systems. In addition, the company offers on-site probe card maintenance and service training, seminars, and telephone support services. The company markets and sells its products through direct sales force, manufacturers' representatives, and distributors in the United States, Taiwan, South Korea, China, Japan, Europe, rest of Asia-Pacific, and internationally. FormFactor, Inc. was incorporated in 1993 and is headquartered in Livermore, California.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| November 18th 2025 | Cantor Fitzgerald | Initiation | Overweight | $75 |
| October 30th 2025 | Citigroup | Upgrade | Buy | $62 |
| October 30th 2025 | TD Cowen | Reiterated | Hold | $50← $35 |
| October 10th 2025 | B. Riley Securities | Upgrade | Buy | $47 |
| August 21st 2025 | Citigroup | Downgrade | Neutral | $31 |
| February 6th 2025 | B. Riley Securities | Downgrade | Neutral | $34← $64 |
| January 13th 2025 | Needham | Downgrade | Hold | - |
| January 6th 2025 | Citigroup | Upgrade | Buy | $51← $44 |
| October 31st 2024 | TD Cowen | Reiterated | Hold | $44← $60 |
| August 1st 2024 | TD Cowen | Reiterated | Hold | $60← $48 |
| May 2nd 2024 | TD Cowen | Reiterated | Hold | $48← $37 |
| April 16th 2024 | Evercore ISI | Initiation | In-line | $50 |
| February 8th 2024 | TD Cowen | Reiterated | Market Perform | $37← $33 |
| July 17th 2023 | Northland Capital | Downgrade | Market Perform | $32 |
| April 3rd 2023 | Citigroup | Downgrade | Neutral | $33← $25 |
Earnings History & Surprises
FORMEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 28, 2026 | — | — | — | — |
Q1 2026 | Feb 4, 2026 | $0.35 | — | — | — |
Q4 2025 | Oct 29, 2025 | $0.25 | $0.33 | +32.0% | ✓ BEAT |
Q3 2025 | Jul 30, 2025 | $0.30 | $0.27 | -10.0% | ✗ MISS |
Q2 2025 | Apr 30, 2025 | $0.19 | $0.23 | +21.1% | ✓ BEAT |
Q1 2025 | Feb 5, 2025 | $0.29 | $0.27 | -6.9% | ✗ MISS |
Q4 2024 | Oct 30, 2024 | $0.31 | $0.35 | +12.9% | ✓ BEAT |
Q3 2024 | Jul 31, 2024 | $0.31 | $0.35 | +12.9% | ✓ BEAT |
Q2 2024 | May 1, 2024 | $0.19 | $0.18 | -5.3% | ✗ MISS |
Q1 2024 | Feb 7, 2024 | $0.20 | $0.20 | 0.0% | = MET |
Q4 2023 | Nov 1, 2023 | $0.17 | $0.22 | +29.4% | ✓ BEAT |
Q3 2023 | Aug 2, 2023 | $0.12 | $0.14 | +16.7% | ✓ BEAT |
Q2 2023 | May 3, 2023 | $0.13 | $0.16 | +23.1% | ✓ BEAT |
Q1 2023 | Feb 8, 2023 | $0.03 | $0.05 | +55.2% | ✓ BEAT |
Q4 2022 | Oct 26, 2022 | $0.22 | $0.24 | +9.1% | ✓ BEAT |
Q3 2022 | Jul 27, 2022 | $0.43 | $0.46 | +7.0% | ✓ BEAT |
Q2 2022 | Apr 27, 2022 | $0.39 | $0.49 | +25.6% | ✓ BEAT |
Q1 2022 | Feb 2, 2022 | $0.41 | $0.44 | +7.3% | ✓ BEAT |
Q4 2021 | Oct 27, 2021 | $0.36 | $0.40 | +11.1% | ✓ BEAT |
Q3 2021 | Jul 28, 2021 | $0.33 | $0.36 | +9.1% | ✓ BEAT |
Latest News
FormFactor Acquires Keystone Photonics; Terms Not Disclosed
➖ NeutralB. Riley Securities Maintains Buy on FormFactor, Raises Price Target to $78
📈 PositiveShares of semiconductor stocks are trading higher amid a broader rebound in tech names. Stocks across sectors are also higher amid Fed Governor Waller backing a December rate cut.
📈 PositiveShares of companies in the broader chip sector are trading higher, rebounding from recent weakness in tech stocks.
📈 PositiveCantor Fitzgerald Initiates Coverage On FormFactor with Overweight Rating, Announces Price Target of $75
📈 PositiveReported Earlier, FormFactor Chooses Farmers Branch Texas For New Advanced Manufacturing Facility In Major Economic Development Milestone
📈 PositiveShares of chip stocks are trading higher amid the Supreme Court's tariff hearing.
📈 PositiveShares of chip and semiconductor stocks are trading lower amid overall tech weakness, with investors possibly assessing earnings and AI-related valuations.
📉 NegativeFormFactor shares are trading lower, reversing after rising on Q3 earnings.
📉 NegativeTD Cowen Maintains Hold on FormFactor, Raises Price Target to $50
➖ NeutralEvercore ISI Group Maintains In-Line on FormFactor, Raises Price Target to $50
➖ NeutralFormFactor shares are trading higher after the company reported better-than-expected Q3 financial results and issued Q4 guidance above estimates.
📈 PositiveFormFactor shares are trading higher after the company reported better-than-expected Q3 financial results and issued Q4 guidance above estimates.
📈 PositiveFormFactor Sees Q4 GAAP EPS $0.15-$0.23 vs $0.17 Est; Sees Sales $205.000M-$215.000M vs $200.754M Est
📈 PositiveFormFactor Sees Q4 Adj EPS $0.31-$0.39 vs $0.29 Est; Sees Sales $205.000M-$215.000M vs $200.754M Est
📈 PositiveFormFactor Q3 Adj. EPS $0.33 Beats $0.25 Estimate, Sales $202.676M Beat $200.001M Estimate
📈 PositiveStifel Maintains Hold on FormFactor, Raises Price Target to $35
➖ NeutralB. Riley Securities Upgrades FormFactor to Buy, Raises Price Target to $47
📈 PositiveCitigroup Downgrades FormFactor to Neutral, Lowers Price Target to $31
📉 NegativeFrequently Asked Questions about FORM
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