FormFactor, Inc. (FORM)
Technology · NMS
Price as at 13 Aug 2026, 15:56 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
FormFactor, Inc. trades at USD133.42, which is 65% above the USD46.53 our fair value estimate puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 54 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 126.4 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
FORM earnings and analyst estimates
Recommendation mix, 10 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About FormFactor, Inc.
FormFactor, Inc. designs, manufactures, and sells probe cards, analytical probes, probe stations, thermal systems, cryogenic systems, and related services in the United States, South Korea, Taiwan, China, Japan, Singapore, Europe, Malaysia, and internationally. The company operates in two segments: Probe Cards and Systems segments. The company provides probe cards to test various semiconductor device types, including systems- on-chip products, such as graphics, central, digital processing units, and other custom application-specific processing units; mobile application processors, microprocessors, and microcontrollers; network devices, which include switches and network processing units; dynamic random-access memory; radio-frequency amplifiers and filters; antenna-in-package devices; analog and mixed-signal integrated circuits; image sensors; co-packaged optical integrated circuits; NAND flash memory; NOR flash memory; and quantum computer processor devices. It also offers analytical probes, which are used for device characterization, electrical simulation model development, failure analysis, and prototype design debugging; probe stations, a critical tool for the development of new generations of semiconductor and electro-optical processes and designs; and thermal subsystems, which include thermal chucks and other test systems used in probe stations and other applications for precise temperature management. In addition, the company provides cryogenic systems, which includes the manufacture of precision cryogenic instruments and semiconductor test and measurement systems; and services and support, including installation services. Further, it offers on-site probe card maintenance and service training, seminars, and telephone support services. It markets and sells its products through direct sales force, manufacturers' representatives, and distributors. The company was incorporated in 1993 and is headquartered in Livermore, California.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
FORM passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
18 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Brett Barakett, TREMBLANT CAPITAL GROUP$114.10M · 3.3% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$107.29M · 0.0% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$68.08M · 0.1% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$67.39M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$60.19M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is FormFactor, Inc. (FORM) undervalued?
Against our fair value estimate of USD46.53, FORM at USD133.42 is 65% above fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own FORM?
18 of the institutions we track reported a position in FORM in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is FORM's P/E ratio?
FORM trades at 126.4 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Where does SteadyShares get its FORM data?
Fundamentals for FORM come from company filings and exchange data, as listed on NMS; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 13 Aug 2026, 15:56 UTC and is delayed. Our data quality score for this company is 96/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for FORM, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.