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Formfactor (CH:FMF)
: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
Conservative Balance SheetVery low leverage and a sizable equity cushion give FormFactor substantial financial resilience through semiconductor cycles. The conservative balance sheet should preserve flexibility to fund capacity expansion, support customers, and absorb demand volatility without relying heavily on external financing.
Sustainable Margin ImprovementThe identified baseline cost reductions, yield gains, and cycle-time improvements provide a stronger foundation for margin sustainability than temporary volume alone. These operational benefits can support profitability as production expands and help fund future capacity and product investments.
HBM And Advanced-Test PositionSmartMatrix adoption and share gains in high-speed HBM testing position FormFactor to benefit from increasingly complex semiconductor requirements. Exposure to HBM4 and HBM5 transitions can create recurring demand for specialized probe cards as customers adopt newer architectures.
Bears Say
Semiconductor Cycle SensitivityUneven revenue and margin performance across the semiconductor cycle shows that FormFactor’s earnings can fluctuate materially with customer production and technology-transition conditions. This cyclicality may interrupt otherwise positive growth trends and make cash conversion less consistent.
Non-Recurring Margin BenefitsA meaningful portion of recent margin expansion will not repeat, so reported profitability may moderate once tariff refunds and reclaim benefits roll off. The gap between temporary results and the stated baseline could make future margin progression less reliable than recent figures suggest.
Competitive HBM PressureCompetitor entry into HBM and pressure in other test insertions could limit FormFactor’s ability to sustain share gains or pricing advantages. Even with strong positions at major customers, evolving competition creates a durable risk to growth and profitability in strategic markets.

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?
Formfactor’s market cap is CHF6.58B.
    When is Formfactor’s upcoming earnings report date?
    Formfactor’s upcoming earnings report date is Nov 04, 2026 which is in 57 days.
      How were Formfactor’s earnings last quarter?
      Formfactor released its earnings results on Jul 29, 2026. The company reported CHF0.667 earnings per share for the quarter, beating the consensus estimate of CHF0.495 by CHF0.172.
        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 0.7.
            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 CHF0.667 in its last earnings report, beating expectations of CHF0.495. 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 Company Deck

                FMF Earnings Call

                Q2 2026
                0:00 / 0:00
                Earnings Call Sentiment|Positive
                The call conveyed a broadly positive operational and financial momentum: record revenue, strong cash generation, notable margin expansion, systems/CPO acceleration, and clear capacity plans (Farmers Branch) support the company’s long‑term targets. Key near-term risks are mix shifts (DRAM HBM→DDR), parts of the margin improvement being non‑recurring (tariff refunds, reclaim), capacity/ramp timing and competitive pressures in select subsegments. On balance the material, recurring improvements in revenue, margins, EPS, cash flow and strategic positioning outweigh the highlighted one‑time items and execution/timing risks.View all CH:FMF earnings summaries

                FMF Stock 12 Month Forecast

                Average Price Target

                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