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Formfactor (CH:FMF)
NASDAQ:FMF

Formfactor (FMF) Price & Analysis

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FMF Stock Chart & Stats

Currently, no data available
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Bulls Say, Bears Say

Bulls Say
Very Low Leverage Balance SheetExtremely low leverage and ~ $303M cash provide durable financial flexibility to fund Farmers Branch capex, sustain R&D and absorb semiconductor cyclicality. A conservative balance sheet reduces refinancing risk and supports strategic investments and opportunistic capital returns over multiple cycles.
Sustained Gross-margin ImprovementA sustained >1,000bp non-GAAP gross-margin improvement reflects durable operational gains: restructuring, yield and cycle-time improvements, and better utilization. Higher structural margins improve cash generation potential and resilience to product-mix swings over the medium term.
Strong Probe-card Product Wins & Market TractionWin momentum across HBM, networking, GPUs and ASICs signals durable product competitiveness and sticky customer relationships. High-value, application-specific probe cards often require repeat purchases and engineering ties, supporting recurring revenue and pricing power as device complexity grows.
Bears Say
Weakened Cash Conversion / Negative FCF TTMTTM free cash flow slipping slightly negative reflects higher capex and working-capital demands tied to growth and Farmers Branch. Weaker cash conversion constrains discretionary investments, lengthens payback on strategic projects, and raises sensitivity to demand shocks over coming quarters.
Near-term Capacity ConstraintsHigh utilization creates a production ceiling that prevents the company from capturing rapid demand spikes or fulfilling large incremental orders. Until the new facility ramps, constrained supply can slow revenue growth, lengthen lead times, and risk customer substitution in a competitive market.
Tariff Uncertainty And GAAP Restructuring HitsOngoing tariff exposure and recent material restructuring charges introduce earnings and cash unpredictability. Regulatory refunds are uncertain, and restructuring reduces near-term GAAP profitability, making reported earnings and cash flows more volatile across regulatory or cost shocks.

Formfactor News

FMF FAQ

What was Formfactor’s price range in the past 12 months?
Currently, no data Available
What is Formfactor’s market cap?
Currently, no data Available
When is Formfactor’s upcoming earnings report date?
Formfactor’s upcoming earnings report date is Jul 29, 2026 which is in 6 days.
    How were Formfactor’s earnings last quarter?
    Formfactor released its earnings results on Apr 29, 2026. The company reported $0.455 earnings per share for the quarter, beating the consensus estimate of $0.358 by $0.098.
      Is Formfactor overvalued?
      According to Wall Street analysts Formfactor’s price is currently Undervalued. Get more investment ideas with TipRanks Premium
        Does Formfactor pay dividends?
        Formfactor does not currently pay dividends.
        What is Formfactor’s EPS estimate?
        Formfactor’s EPS estimate is 0.5.
          How many shares outstanding does Formfactor have?
          Currently, no data Available
          What happened to Formfactor’s price movement after its last earnings report?
          Formfactor reported an EPS of $0.455 in its last earnings report, beating expectations of $0.358. Following the earnings report the stock price went same N/A.
            Which hedge fund is a major shareholder of Formfactor?
            Currently, no hedge funds are holding shares in CH:FMF
            What is the TipRanks Smart Score and how is it calculated?
            Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology

              Company Description

              Formfactor

              FormFactor, Inc., established in Livermore, California in 1993, specializes in the design, manufacturing, and global distribution of advanced test and measurement solutions for the semiconductor industry. The company primarily caters to semiconductor manufacturers and research institutions, operating through two main divisions: Probe Cards and Systems. Within the Probe Cards segment, FormFactor supplies crucial components designed to verify the functionality of a wide array of integrated circuits. These include complex system-on-chip (SoC) products, processors for mobile applications, microcontrollers, graphics processors, and various memory devices such as dynamic random-access memory (DRAM) and NAND/NOR flash. Additionally, their probe cards support the testing of radio frequency (RF), analog, mixed-signal, image sensor, and electro-optical devices. The Systems division encompasses several specialized product lines. For instance, analytical probes are instrumental in applications such as device characterization, developing electrical simulation models, conducting failure analysis, and debugging prototype designs. These probes serve a diverse clientele including universities, research facilities, integrated device manufacturers (IDMs), semiconductor foundries, and fabless semiconductor companies. Furthermore, FormFactor provides probing systems that enable semiconductor design engineers to accurately capture and analyze critical data. They also offer surface metrology systems vital for product development, manufacturing, and quality assurance in semiconductor production. The company's thermal subsystems, such as thermal chucks, are incorporated into probe stations and other testing environments. Completing their portfolio are precision cryogenic instruments and associated test and measurement systems for semiconductors. Beyond hardware, FormFactor delivers comprehensive support services, including on-site maintenance for probe cards, specialized training programs, educational seminars, and telephone assistance. The company leverages a multi-channel sales strategy, utilizing a direct sales force, manufacturers' representatives, and independent distributors to market its offerings across major global markets. Its operational footprint spans the United States, Taiwan, South Korea, China, Japan, Europe, the broader Asia-Pacific region, and various other international territories.

              Formfactor (FMF) Earnings & Revenues

              FMF Stock 12 Month Forecast

              Average Price Target

              $123.80
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