FormFactor, Inc. (FORM) Stock Analysis
Range Bound setup
Technology · Semiconductor Equipment & Materials
Sell if holding. Analyst target reached at $131.26 — A.R:R is negative (-1.9) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: probe card products.
FormFactor designs, manufactures, and sells probe cards, analytical probes, probe stations, thermal systems, and cryogenic systems for semiconductor electrical and optical testing across its Probe Cards and Systems segments. One customer represented 22.9% of revenue in fiscal... Read more
Sell if holding. Analyst target reached at $131.26 — A.R:R is negative (-1.9) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: probe card products. Chart setup: RSI 56 mid-range, Bollinger mid-band. Score 4.9/10, high confidence.
Passes 5/7 gates (clean insider activity, no SEC red flags, news boost analyst 0.60, earnings proximity no date, semi cycle peak clear). Fails on weak momentum and favorable risk/reward ratio. Suitability: moderate.
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHProductprobe card products10-K Item 1A: 'We depend upon the sale of our probe card products for the substantial majority of our revenues.'
- LOWCustomertop customer23%10-K Item 1A: 'One customer represented 22.9% of total revenues in fiscal 2025'
Material Events(8-K, last 90d)
- 2026-02-18Item 5.02LOWDirector Kevin Brewer advised FormFactor's Board on February 13, 2026 that he will not stand for re-election at the 2026 annual meeting. No disagreement with the company cited.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. Full disclaimer
Rating Breakdown
1 floor-breaker
Priced at a premium — multiples above sector norms. Needs delivery on growth + margins to justify.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $131.26 — A.R:R is negative (-1.9) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: probe card products. Chart setup: RSI 56 mid-range, Bollinger mid-band. Prior stop was $121.96. Score 4.9/10, high confidence.
Take-profit target: $155.91 (+18.9% upside). Prior stop was $121.96. Stop-loss: $121.96.
Concentration risk — Product: probe card products; Analyst target reached - limited upside remaining; Leverage penalty (D/E 3.1): -1.5.
FormFactor, Inc. trades at a P/E of 196.4 (forward 61.3). TrendMatrix value score: 3.2/10. Verdict: Sell.
16 analysts cover FORM with a consensus score of 3.8/5. Average price target: $107.
What does FormFactor, Inc. do?FormFactor designs, manufactures, and sells probe cards, analytical probes, probe stations, thermal systems, and...
FormFactor designs, manufactures, and sells probe cards, analytical probes, probe stations, thermal systems, and cryogenic systems for semiconductor electrical and optical testing across its Probe Cards and Systems segments. One customer represented 22.9% of revenue in fiscal 2025; customers span logic, memory, and other device types.