FormFactor (FORM) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
FormFactor (FORM) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
FORM, LRCX, VRT, MBIN and SNDR have been added to the Zacks Rank #1 (Strong Buy) List on August 3rd, 2026.
FORM's Q2 results show AI-driven demand, record profitability, capacity expansion and raised outlook as high-performance computing growth accelerates.
FORM's Q2 earnings beat estimates as record revenues, HBM strength and a systems rebound support an upbeat third-quarter outlook.
FormFactor (FORM) came out with quarterly earnings of $0.82 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.27 per share a year ago.
FormFactor NASDAQ: FORM reported record second-quarter revenue, gross profit and earnings per share, as demand for semiconductor test products increased across high-bandwidth memory, data-center computing and co-packaged optics.
FormFactor's Keystone Microtech pact expands Taiwan support and testing capacity for AI, HBM, advanced packaging and high-speed chips.
FORM heads into Q2 earnings with AI, HBM and advanced packaging momentum, but valuation and trade risks temper the upside.
I am upgrading FormFactor to Strong Buy with a $134 price target, representing 27% upside potential. Growth should be driven by rising HBM test complexity, stronger demand for GPU and networking probe cards, co-packaged optics adoption, and operating leverage from the Farmers Branch manufacturing ramp. I arrive at my price target by applying a 40x FWD non-GAAP P/E multiple to my 2028 non-GAAP EPS estimate of $3.34.
FORM's AI-driven HBM momentum, broader chip-testing wins and CPO growth support its outlook despite premium valuation and margin pressure.
FORM's AI infrastructure push is fueling demand for probe cards, HBM testing, GPUs, custom ASICs and CPO, with revenue gains eyed through 2030.