B. Riley Upgrades FormFactor Earnings Forecast for Q4 2025

FormFactor, Inc. (NASDAQ: FORM) has received an upgraded earnings forecast for the fourth quarter of 2025 from B. Riley. In a report released on October 30, 2023, analyst C. Ellis increased the earnings per share (EPS) estimate from $0.22 to $0.26. B. Riley maintains a “Buy” rating on the semiconductor company’s stock, reflecting confidence in its performance.

The consensus estimate for FormFactor’s full-year earnings stands at $0.90 per share. In addition to the Q4 2025 projections, B. Riley provided forecasts for subsequent quarters, estimating $0.25 EPS for Q2 2026, $0.33 EPS for Q3 2026, and $0.37 EPS for Q4 2026.

FormFactor recently reported its quarterly earnings on October 29, 2023, announcing an EPS of $0.33, outperforming analysts’ expectations of $0.25 by $0.08. The company achieved a net margin of 5.38% and a return on equity of 5.16%. Revenue for the quarter reached $202.68 million, surpassing analyst estimates of $199.97 million. This marked a 2.5% decline in revenue compared to the same quarter last year, when the firm reported an EPS of $0.35.

Analysts Offer Target Price Adjustments

Following the earnings announcement, several equity analysts adjusted their target prices for FormFactor. Northland Securities set a target price of $44.00, while Evercore ISI raised its estimate significantly from $31.00 to $50.00 and assigned an “in-line” rating. Additionally, Zacks Research upgraded the stock from a “strong sell” to a “hold” rating on October 20, 2023.

Currently, three analysts have rated FormFactor with a “Buy” while seven have given it a “Hold” rating. Based on data from MarketBeat, the stock holds an average rating of “Hold” with an average price target of $50.00.

Institutional Investment Trends

Institutional investors have shown increased interest in FormFactor, with several firms adjusting their stakes in the company. MassMutual Private Wealth & Trust FSB expanded its holdings by 282.0% in the second quarter, acquiring an additional 547 shares. Similarly, AlphaQuest LLC increased its holdings by an astounding 96,900.0% during the first quarter, now owning 970 shares valued at $27,000.

Approximately 98.76% of FormFactor’s stock is owned by institutional investors, indicating strong institutional support for the company.

Insider Transactions

In related news, insider transactions have occurred with significant sales by directors. Rebeca Obregon-Jimenez sold 4,000 shares on August 13, 2023, at an average price of $29.55, totaling $118,200. Following this sale, she retained 13,126 shares, valued at approximately $387,873.30.

Additionally, director Kelley Steven-Waiss sold 3,600 shares on September 12, 2023, for a total of $109,548. After this transaction, she owned 35,479 shares worth about $1,079,625.97.

FormFactor, headquartered in the United States, designs, manufactures, and sells a range of semiconductor products, including probe cards and metrology systems, for clients across the globe.

As stock performance continues to fluctuate, investors remain vigilant. FormFactor opened at $54.95 on Monday, with a 52-week range between $22.58 and $61.10. The company currently boasts a market capitalization of $4.24 billion and a price-to-earnings ratio of 105.68.

With strong earnings results and positive forecasts, FormFactor appears well-positioned for future growth in the semiconductor industry.