FormFactor Price Target | Analysis, Price & Growth Outlook

FormFactor

NasdaqGS:FORM

$ 100,35

$-7,72 (-7,14%)

100,35 $

$-7,72 (-7,14%)

End-of-day quote: 03/26/2026

FormFactor Stock Value

Analysts currently rate NasdaqGS:FORM as Outperform.

Outperform

FormFactor Company Info

EPS Growth 5Y

-2,69%

Market Cap

$7,82 B

Long-Term Debt

$0,01 B

Short Interest

1,58%

Quarterly earnings

04/30/2026 (E)

Dividend

$0,00

Dividend Yield

0,00%

Founded

1993

Industry

Information Technology

Country

United States

ISIN Number

US3463751087

Website

http://www.formfactor.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$80,00

-20.28%

Last Update: 03/26/2026

Analysts: 9

Highest Price Target $100,00

Average Price Target $80,00

Lowest Price Target $64,00

In the last five quarters, FormFactor’s Price Target has risen from $30,53 to $42,56 - a 39,40% increase. Nine analysts predict that FormFactor’s share price will fall in the coming year, reaching $80,00. This would represent a decrease of -20,28%.

Top growth stocks in the information technology sector (5Y.)

What does FormFactor do?

FormFactor, Inc. provides electrical and optical test and measurement technologies along the full semiconductor product lifecycle - from characterization, modeling, reliability, and design de-bug, to qualification and production test. The company provides a broad range of high-performance probe cards, analytical probes, probe stations, thermal systems, and cryogenic systems to both semiconductor companies and scientific institutions. The company's products provide electrical and optical informa...

The company provides a broad range of high-performance probe cards, analytical probes, probe stations, thermal systems, and cryogenic systems to both semiconductor companies and scientific institutions. The company's products provide electrical and optical information from a variety of semiconductor and electro-optical devices, as well as integrated circuits, from early research, through development, to high-volume production. Customers use the company's products and services to accelerate profitability by optimizing device performance, reducing scrap, and improving yields.

As of December 28, 2024, the company operated in two reportable segments consisting of the Probe Cards segment and the Systems segment. Sales of the company's probe cards and analytical probes were included in the Probe Cards segment, while sales of the company's probe stations, thermal systems, and cryogenic systems are included in the Systems segment.

Products

The company designs, manufactures, and sells multiple product lines, including probe cards, analytical probes, probe stations, thermal systems, cryogenic systems, and related services.

Probe Cards: The company's probe cards utilize a variety of technologies and product architectures, including micro-electromechanical systems (MEMS) technologies. The company uses advanced design and automation technologies to enable rapid manufacturing of resilient composite contact elements with characteristic length scales of a few microns. These contact elements are designed to provide a specific range of forces on and across a chip’s bond pad, solder bump, micro-bump, through-silicon-via (TSV), or copper pillar, during the test process, and maintain their shape and position over a range of compression levels. In addition, while maintaining these mechanical characteristics, the contact elements must achieve reliable and fidelity electrical contact through wafer surfaces that are generally oxidized or otherwise contaminated, and must maintain these attributes over hundreds of thousands, and even millions, of compression cycles. The company's range of capabilities enables it to rapidly produce customer-design specific probe cards that deliver precision, quality, reliability, and electro-mechanical performance.

The company's probe cards are customized for customers’ unique wafer and chip designs by modifying and adapting the company's standard product architectures to meet an individual customer’s specific wafer and chip layouts and electrical test requirements. The company offers probe cards to test a variety of semiconductor device types, including systems on a chip (SoCs), mobile application processors, microprocessors, microcontrollers, graphic processors, network and digital signal processing integrated circuits (ICs), radio frequency amplifiers, filters, and antenna in package devices, analog, mixed signal, image sensors, electro-optical, DRAM memory (including high-bandwidth memory, or ‘HBM’), NAND flash memory, NOR flash memory, and quantum computer processor devices.

For many applications, the company's products must maintain tens of thousands of simultaneous high-fidelity low-impedance electrical contacts with the corresponding chip contacts on the wafer. The company's technologies enable probe cards with over 150,000 contact elements with spacings as small as 40 microns over geometries as large as an entire 300mm wafer. In addition, for signal-fidelity devices, such as wireless radio frequency transceivers and automotive radar chips, the company's probe card technologies are capable of testing at millimeter-wave frequencies, up to 81 GHz.

The company has invested, and intends to continue to invest, considerable resources in proprietary probe card design tools and processes. These tools and processes are intended to enable the rapid and accurate customization of products required to meet customer requirements, including automated routing and trace length adjustment within the company's probe cards, to rapidly design complex structures.

In addition, some of the company's customers test certain chips over a large range of operating temperatures, such as for automotive and cryogenic applications. The company designs probe cards to provide for a precise match with the thermal expansion characteristics of the wafer under test across the range of test operating temperatures. For many of its products, the company’s customers can use the same probe card for both low and high temperature testing. The company also designs probe cards for customers that require extreme positional accuracy at a specific temperature.

Through ongoing investments in both technology and operations, the company continues to innovate and improve so that its products will meet customers’ future technical roadmap performance, quality, and commercial requirements. The company also focuses on leveraging these ongoing investments across all advanced probe card markets to realize synergies and economies of scale to benefit its competitiveness, time-to-market, and overall profitability.

Analytical Probes: The company offers over 50 different analytical probe models for engineering and production testing. Analytical probes are used for a diverse set of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging. The company's customers for analytical probes include universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies. The company continues to add new models of analytical probes that address measurements with higher complexities and at higher frequencies.

Probe Stations: Probe stations, also referred to as probe systems, are a critical tool for the development of new generations of semiconductor and electro-optical processes and designs. Probe stations are configurable for the required measurements, the size and type of wafer under test, the characteristics of the device design to be tested, and the temperatures at which testing is to be performed. Process development and design complexities have continually increased with each new generation of semiconductor technology to accommodate smaller design geometries, complex 3-D architectures, new materials, and more layers. Probe systems are a fundamental tool for characterizing and verifying electrical performance and reliability to enable new semiconductor technologies. The company designs its probe systems for semiconductor development engineers to capture and analyze more accurate data in a shorter amount of time and to be able to control and manage testing at temperatures from near absolute zero to hundreds of degrees centigrade.

The company builds upon its probe stations to create integrated measurement systems that provide complete solutions for customers’ complex measurement requirements. These systems include test instrumentation, probes, cabling configurations, and software to enable fast, accurate, on-wafer data collection for complex application and measurement needs. The company offers pre-configured and customized measurement systems for production testing, power device characterization, vacuum probing, cryogenic probing, pressure probing, photonics testing, and a variety of other specific applications.

The company is in the early stages of collaborating with certain customers to transition from the lab to the fab with co-packaged optics, which is poised to revolutionize chip-to-chip communication in the data center by significantly reducing power consumption at high data rates.

Thermal Subsystems: The company's thermal subsystems include thermal chucks and other test systems used in probe stations and other applications where precise temperature management is required. Thermal chuck systems enable the testing of devices at precise temperatures or across a range of temperatures. These systems are both marketed externally and allow for vertical integration with the company's probe stations.

Cryogenic Systems: The company's cryogenic systems include the manufacture of precision cryogenic instruments and semiconductor test and measurement systems. These include advanced cryogenic probe systems to test complete wafers or singulated die, as well as dilution refrigerator cryostats used in various applications at temperatures close to absolute zero, including quantum and superconducting computing applications, astronomy, and other situations where cryogenic temperature management is required. These systems are marketed externally and also allow for vertical integration with the company's existing cryogenic wafer and chip probe stations and cryogenic probes.

Services and Support: In addition to routine installation services at the time of sale, the company offers services to enable its customers to maintain and more effectively utilize the company's products, and to enhance its customer relationships. The company's applications engineers assist customers in test methodologies to make advanced measurements during process and product development, and during mass production, along with offering traditional maintenance services.

Customers

The company's customers include companies, universities, and institutions that design or make semiconductor and semiconductor-related products in the foundry & logic, DRAM, flash, display, sensor, and quantum computer markets. The company's customers use its products to test nearly all semiconductor device types, including SoCs, mobile application processors, microprocessors, microcontrollers, graphic processors, network and digital signal processing integrated circuits (ICs), radio frequency amplifiers, filters and antenna in package devices, analog, mixed signal, image sensors, electro-optical, DRAM memory (including HBM), NAND flash memory, NOR flash memory, and quantum computer processor devices.

Fabless semiconductor suppliers do not manufacture their own semiconductors, but they purchase the company's analytical probes, probe stations, and other System segment products for research and development, and device characterization. They also purchase, or direct their foundries or wafer test facilities to purchase, the company's probe cards to test wafers manufactured for them.

The company's probe stations are installed at customer sites either by the company, its manufacturers’ representatives, or its distributors, depending on the complexity of the installation and the customer’s geographic location. The company assists its customers in the selection, integration, and use of its products through application engineering support. The company also provides worldwide on-site probe card maintenance and service training, seminars, and telephone support. In certain geographic regions, and for selected products, the company's manufacturers’ representatives and distributors provide additional service and support.

The company's customers are SK hynix Inc.; Intel Corporation; and Samsung Electronics Co., LTD.

Manufacturing

The company's primary manufacturing facilities are located in Livermore, Carlsbad, and Baldwin Park, California; Beaverton, Oregon; Boulder, Colorado; and Woburn, Massachusetts, all in the United States; and in Thiendorf and Munich, Germany. The company also has smaller manufacturing operations in Yokohama, Japan.

The company maintains repair and service capabilities in Livermore, Carlsbad, and Baldwin Park, California, and Beaverton, Oregon, the United States; Thiendorf, Dresden, and Munich, Germany; Bundang, South Korea; Yokohama, Japan; Hsinchu, Taiwan; and Singapore.

Sales and Marketing

The company sells its products worldwide through a global direct sales force and through a combination of manufacturers’ representatives and distributors.

The company's direct sales and marketing staff is located in the United States, France, Germany, Italy, the United Kingdom, Japan, Singapore, South Korea, and Taiwan.

The company also has a network of representatives and distributors across the globe to broaden its reach. The company engages sales representatives to act as independent third parties that agree to promote its products. The company typically uses sales representatives in areas that require greater levels of customer support than it can deliver from its own sales offices and where local language capabilities can offer an advantage. The company's distributors purchase its products and resell them at prices and upon terms set by the particular distributor. The company typically uses distributors in particular geographies due to local regulations or business customs.

Competition

Probe Cards: The company's primary competitors are Chungwa Precision Technology, Feinmetall GmbH, Japan Electronic Materials Corporation, Korea Instrument Co., Ltd., Microfriend Inc., Micronics Japan Co., Ltd., MPI Corporation, Soulbrain Engineering, STAr Technologies, Inc., Max One, Nidec SV TCL, Synergie CAD, Technoprobe S.p.A, TSE Co., Ltd., WinWay Technology Co., Ltd., WILL-Technology Co., Ltd., and Yokowo, among others.

Analytical Probes: The company's primary competitors in the analytical probe market are GGB Industries Inc. and MPI Corporation.

Probe Stations: The company's 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.

Thermal Subsystems: In the market for thermal subsystems, the company competes principally against AEM Singapore Pte., ERS Electronic GmbH, and Temptronic Corporation.

Cryogenic Systems: In the market for cryogenic systems, the company competes principally against Bluefors Oy, Lake Shore Cryotronics, Inc, Maybell Quantum Industries Inc., Montana Instruments, and Oxford Instruments.

History

FormFactor, Inc. was founded in 1993. The company was incorporated in Delaware in 1993.

FormFactor Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Semiconductor Industry:** 100% (2025) **TOP 3 Markets:** 1. **USA:** approx. 35% 2. **Asia-Pacific (including China):** approx. 45% 3. **Europe:** approx. 15% FormFactor, Inc. is a leading provider of test and measurement solutions for the semiconductor industry. The company's revenues come...

At which locations are the company’s products manufactured?

**Production sites of FormFactor, Inc.:** FormFactor, Inc. mainly produces its products in the USA, particularly in Livermore, California, where the company's headquarters are also located. Additionally, the company has production facilities in Asia, specifically in Singapore and Korea. This...

What strategy does FormFactor pursue for future growth?

**Revenue Growth:** Estimated 10-12% annually (2025) **Focus on Research and Development:** 15% of revenue (2024) FormFactor, Inc. pursues a growth strategy that heavily relies on innovation and technological leadership. The company consistently invests a significant portion of its revenue in resea...

Which raw materials are imported and from which countries?

**Main materials:** Semiconductor wafers, metals, plastics **Countries of origin:** Taiwan, South Korea, Japan, USA FormFactor, Inc. is a leading provider of testing and measurement solutions for the semiconductor industry. The company heavily relies on sourcing semiconductor wafers from countrie...

How strong is the company’s competitive advantage?

**Market share:** 20% (estimated, 2025) **Research & Development (R&D) expenses:** 15% of revenue (2024) **Gross margin:** 45% (2024) FormFactor, Inc. has a significant competitive advantage in the semiconductor industry, especially in the field of testing and measurement solutions. The...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** approximately 90% (2025, estimated) **Insider Purchases/Sales:** No significant transactions in the last quarter (2025, estimated) The institutional investor share in FormFactor, Inc. is estimated to be around 90%. This suggests that the company is heavily held by...

What percentage market share does FormFactor have?

**Market share of FormFactor, Inc.:** Estimated 10% (2025) **Top competitors and their market shares:** 1. **Advantest Corporation:** 20% 2. **Teradyne, Inc.:** 18% 3. **Cohu, Inc.:** 12% 4. **FormFactor, Inc.:** 10% 5. **Tokyo Electron Limited:** 8% 6. **LTX-Credence Corporation:** 7% 7. **Nationa...

Is FormFactor stock currently a good investment?

**Revenue Growth:** 8.5% (2024) **Profit Growth:** 10.2% (2024) **R&D Expenses:** 15% of revenue (2024) FormFactor, Inc. experienced solid revenue growth of 8.5% in 2024, indicating strong demand for their semiconductor test solutions products and services. The profit growth of 10.2% in the sam...

Does FormFactor pay a dividend – and how reliable is the payout?

**Dividend:** No payout (as of 2023) FormFactor, Inc. has not paid any dividends to its shareholders in the past. The company typically reinvests its profits into the business to promote growth and innovation. The reliability of a dividend payment is therefore not guaranteed, as FormFactor traditi...

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FormFactor Stock Value

FormFactor Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the information technology sector (5Y.)

What does FormFactor do?

FormFactor Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

FormFactor Stock Value

FormFactor Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the information technology sector (5Y.)

What does FormFactor do?

FormFactor Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.