form stock FormFactor (FORM) Overview

FormFactor, Inc. (FORM)

Form stock refers to the Nasdaq-listed common stock of FormFactor, Inc., ticker symbol FORM. This guide explains what form stock represents, FormFactor's business model, product lines (probe cards, analytical probes, thermal and cryogenic systems), global markets, manufacturing and R&D footprint, financial and stock information, governance, risks and where to find authoritative investor materials. If you are researching form stock, this article gives a structured, beginner-friendly reference and points to the primary sources for verification.

Overview

FormFactor, Inc. is a semiconductor test and measurement equipment company that designs and manufactures probe cards, analytical probes, probe stations and thermal/cryogenic test systems used in wafer-level and device characterization testing. Its customers include integrated device manufacturers (IDMs), foundries, fabless semiconductor companies and research institutions. The company sells hardware, software and complementary services (installation, maintenance and calibration) to support chip test across advanced process nodes.

form stock (FORM) is the company’s Nasdaq ticker for its common shares. Investors track form stock to follow the performance of a key supplier to the semiconductor manufacturing ecosystem, especially companies focused on wafer probe and device-level test solutions.

History

Founding and early years

FormFactor was founded to address growing needs in wafer probe technology and device characterization. Early efforts focused on developing high-precision probe cards to contact tiny pads on wafers for electrical test. The company's initial markets were test labs, research institutions and semiconductor manufacturers beginning to push process nodes smaller and requiring denser contact solutions.

Expansion and product development

Over time, FormFactor expanded its product portfolio beyond probe cards into analytical probes, probe stations and thermal/cryogenic subsystems. Key milestones included launches of higher-density probe card platforms, low-parasitic probes for RF and mmWave testing, and systems tailored for advanced memory and logic device testing. Geographic expansion followed the semiconductor industry, with facilities and sales channels established in North America, Taiwan, South Korea, China, Japan and Europe.

Public listing and later milestones

FormFactor's common shares trade on the Nasdaq under the ticker FORM. The public listing provided capital to expand manufacturing, R&D and global support centers. Since listing, notable milestones have included strategic acquisitions to broaden test capabilities, partnerships with major foundries and new product introductions that targeted emerging device types (e.g., advanced memory, RF, power and automotive-grade semiconductors).

Products and Technology

Probe Cards

Probe cards are precision instruments that provide electrical contact from a tester to the wafer under test. They play a critical role in wafer test — enabling automated test equipment (ATE) to exercise circuitry at wafer scale before die singulation. FormFactor's probe card offerings cover a range of use cases:

• High-density probe cards for advanced logic and memory nodes.
• RF and mmWave probe cards with low-loss signal paths for high-frequency characterization.
• Thermal-enabled probe cards that integrate with temperature control systems for temperature-dependent testing.

FormFactor differentiates through tight process control, customization for customer test flows and support for emerging contact technologies (e.g., vertical interconnects, high-pin-count arrays).

Analytical Probes and Probe Stations

Analytical probes and probe stations are used for device characterization, failure analysis and R&D. They allow engineers to position probes on individual die, apply bias, measure currents/voltages and monitor device behavior under controlled conditions. Typical use-cases include:

• Characterizing new transistor designs and process impacts.
• Debugging failing parts and root-cause analysis.
• Research in universities and corporate labs for next-generation device concepts.

FormFactor’s analytical product lines emphasize stability, fine positional control, vibration isolation and compatibility with cryogenic or thermal subsystems.

Thermal and Cryogenic Systems

Testing semiconductor devices across temperature ranges is essential for validating performance and reliability. FormFactor offers thermal subsystems that integrate with probe cards and probe stations to support elevated and low-temperature testing. Cryogenic solutions are particularly important for quantum device research and other low-temperature physics experiments where device behavior at very low temperatures must be measured precisely.

Services and Support

Beyond hardware, FormFactor provides services such as on-site maintenance, calibration, training and customized engineering support. These services help customers shorten time-to-market by optimizing test flows, reducing probe wear, and maintaining throughput at production facilities.

Markets and Customers

FormFactor’s primary customer segments include:

• Integrated Device Manufacturers (IDMs) that fabricate and test their own chips.
• Foundries that provide wafer manufacturing for fabless customers and require test partners.
• Fabless semiconductor companies that outsource wafer production and need test solutions.
• Research institutions and universities engaged in device physics and nascent technology prototypes.

Geographic markets align with global semiconductor production and R&D hubs: the United States, Taiwan, South Korea, China, Japan and Europe. Typical commercial relationships include multi-year supply agreements, engineering collaborations for next-generation nodes, and on-site service contracts.

form stock performance is sensitive to demand from these segments because capital expenditures at fabs and test labs influence equipment order rates and service revenues.

Manufacturing, Facilities and R&D

FormFactor maintains a manufacturing and service footprint designed to support precision assembly and rapid global response. Key elements:

• Manufacturing centers for precision probe fabrication and assembly.
• Regional service centers for calibration, repairs and spare parts.
• R&D labs focused on probe technology, high-frequency characterization, thermal integration and automation of test handling.

R&D investment typically targets lower parasitics for RF probing, higher contact density, improved lifetime and integration with ATE and test software. Maintaining a strong engineering pipeline is essential to remain competitive as node geometries shrink and new device architectures emerge.

Financial performance

Note: The following financial overview is high-level. For exact, up-to-date figures, consult FormFactor’s most recent SEC filings (10-K, 10-Q) and investor presentations.

Key financials

FormFactor’s revenue mix historically reflects a combination of product sales (probe cards, systems) and recurring services. Top-line growth is correlated with semiconductor industry cycles — capital equipment and test demand typically rise with foundry and IDM expansions. Profitability measures such as gross margin and operating margin depend on product mix (high-margin services versus capital hardware) and absorption of fixed manufacturing costs.

Balance sheet and cash flow

FormFactor generally manages working capital to align with production cycles. Balance sheet items to watch include cash on hand, short-term investments, debt levels and the company’s ability to fund R&D and capital expenditures without dilutive financing. Cash flow from operations can be cyclical; capital spending varies with investments in new manufacturing capabilities or expansion of service centers.

Recent results and guidance

As with many equipment suppliers, quarterly results and forward guidance matter for investor expectations. Earnings beats or misses, backlog changes and management commentary on end-market demand (memory, logic, automotive, AI accelerators) can materially affect perceptions of form stock. Analysts regularly update models after quarterly releases.

As of January 27, 2026, market-level analyst activity (upgrades/downgrades across sectors) continued to shape sentiment toward technology and semiconductor suppliers, per The Fly and Benzinga reports.

Stock information

Listing and identifiers

• Exchange: Nasdaq
• Ticker symbol: FORM
• Common identifiers such as ISIN and FIGI are available in official exchange and regulatory records. Investors should verify these in the company’s investor relations or SEC filings.

Market capitalization and float

Market capitalization for form stock varies with price movements and outstanding shares. Market cap and free float are standard metrics available on major financial data providers and in company filings. As of the reporting date below, readers should consult official quotes for precise figures.

Dividends and share repurchases

Historically, FormFactor has prioritized reinvestment in R&D and operations. If the company pays no regular dividend, state that it currently does not have an ongoing dividend policy; any share repurchase programs are disclosed in SEC filings and may be announced from time to time.

Major shareholders

Institutional investors and insiders typically hold meaningful stakes in many public technology companies. Major shareholders, institutional ownership percentages and insider holdings are listed in proxy statements and SEC filings (Forms 3, 4, 5). Significant changes in insider transactions are disclosed in Form 4 filings and can influence investor perceptions.

Trading history and market performance

Historical price performance

form stock’s historical price performance is driven by product cycles, semiconductor capital expenditures, and broader market sentiment toward technology. Notable events that move the stock often include quarterly earnings surprises, new product announcements, large customer wins, or macro shifts in semiconductor demand.

Analyst coverage and targets

Sell-side analysts publish ratings and price targets that investors may follow. Consensus ratings (Buy/Hold/Sell mix) and median price targets aggregate broker views. Changes in analyst coverage, initiations, upgrades, and downgrades in the semiconductor and equipment sectors — as cataloged by market news providers — can affect form stock sentiment.

For example, industry-wide analyst activity reported on January 27, 2026 by The Fly and Benzinga showed various upgrades and downgrades across technology and industrial names. While those items did not directly reference FormFactor, they illustrate how research flows influence related suppliers.

Market events affecting the stock

Events that can materially move form stock include:

• Quarterly earnings that diverge from expectations.
• Large capital orders from foundries or IDMs.
• Technology partnerships or acquisitions.
• Industry cyclical shifts in memory, logic and fab construction.
• Macro environment factors such as interest rates and global trade policies that affect semiconductor investment.

Options, short interest and liquidity

Options trading, short interest levels and average daily trading volume affect liquidity and volatility for form stock. Options enable hedging and speculative activity; open interest and average volumes can be found on options exchanges and data services. Short interest, reported biweekly by exchanges and data vendors, indicates the proportion of shares held short and can signal market sentiment.

High short interest combined with low float may produce elevated volatility. Investors should consult up-to-date market data when assessing liquidity and implied volatility.

Corporate governance and management

Executive leadership

FormFactor’s executive team includes the CEO and senior leaders responsible for operations, sales, engineering, finance and legal. Executive bios, prior experience and tenure are published on the company’s corporate site and proxy statements. Any recent leadership changes are disclosed in press releases and SEC filings.

Board of directors

The board oversees strategy, risk and governance. Key information includes board composition, committee structures (audit, compensation, nominating/governance), director independence and any recent committee actions. Proxy statements detail board member backgrounds and compensation.

Mergers, acquisitions and partnerships

FormFactor has used M&A and strategic partnerships to complement organic product development. Acquisitions typically aim to add adjacencies in probe technology, automation or test instrumentation. Partnerships with ATE suppliers, foundries or research institutions help align testing solutions with customer workflows.

Material strategic deals are announced through press releases and reported in SEC filings; investors should review those official disclosures for transaction terms and strategic rationale.

Litigation and regulatory matters

Material litigation or regulatory inquiries that could affect operations or financials are disclosed in SEC filings (10-K, 10-Q, 8-K). Typical issues for public technology companies include intellectual property disputes, contract disputes with customers or suppliers, and compliance matters. Any material settlements or rulings are reported promptly by the company.

Risks

Investors and stakeholders should be aware of principal risks facing FormFactor and thus form stock:

• Cyclical semiconductor demand: test equipment orders rise and fall with fab investment and device demand.
• Customer concentration: large customers or foundries can represent a significant portion of orders.
• Technological obsolescence: rapid node transitions and new packaging approaches require continuous innovation.
• Geographic and regulatory exposure: manufacturing and customers across Asia and the U.S. create geopolitical and trade-related risks.
• Supply chain constraints: precision parts and specialized materials can be subject to shortages.
• Capital intensity: production and R&D require ongoing capital investment that affects margins and cash flow.

This risk summary is factual and non-exhaustive. For a detailed risk disclosure, consult the risk factors in the company’s most recent 10-K.

Corporate responsibility and ESG

FormFactor reports on environmental, social and governance initiatives consistent with stakeholder expectations. Typical focus areas include:

• Environmental: waste reduction, energy efficiency in manufacturing, responsible materials sourcing.
• Social: workplace safety, employee training, diversity and inclusion programs.
• Governance: board independence, ethics policies and transparent financial reporting.

Investor materials and sustainability reports provide quantitative goals and progress metrics. Independent ESG data providers may also publish third-party assessments.

Investor relations and communications

FormFactor communicates with investors through quarterly earnings releases, investor presentations, conference calls, SEC filings and the investor relations section of its website. Key materials to review for verified information include:

• Annual report (Form 10-K)
• Quarterly reports (Form 10-Q)
• Current reports (Form 8-K)
• Proxy statements (DEF 14A)
• Form 4 insider transaction filings

As of January 27, 2026, market watchers and analysts continued to reference earnings cadence and research notes (e.g., upgrades/downgrades compiled by The Fly and Benzinga) when assessing semiconductor equipment suppliers. Always cross-check market commentary with official filings for accuracy.

See also

• Semiconductor testing
• Probe card technology
• Wafer-level testing
• Peer companies in semiconductor equipment and materials

References

This article recommends consulting the following reliable sources for verification and up-to-date numbers:

• FormFactor, Inc. SEC filings (10-K, 10-Q, 8-K, Form 4)
• FormFactor Investor Relations materials and press releases
• Nasdaq company quote and exchange records
• Major financial data providers (for market cap, volume, options data)
• Industry research notes and reputable financial news outlets (e.g., The Fly, Benzinga) for market commentary and analyst activity

As of January 27, 2026, according to The Fly and Benzinga market reports, Wall Street research activity (upgrades, downgrades and coverage initiations) influenced sentiment across technology and semiconductor-related names. Such analyst flows can create short-term moves in form stock and peer equipment vendors.

External links and where to verify

• FormFactor official website and Investor Relations page for SEC filings and corporate disclosures.
• Nasdaq and major market data vendors for current quotes, historical price data and market cap.

How to track form stock and next steps

If you are tracking form stock for research purposes, take these steps:

1. Review the latest SEC filings (10-K for annual, 10-Q for quarterly) to get audited financials and risk disclosures.
2. Read recent investor presentations and earnings transcripts for management commentary on demand, backlog and product roadmaps.
3. Monitor industry research and analyst notes for updated consensus expectations, but cross-check with primary filings.
4. Track trading metrics (average daily volume, options open interest, short interest) to understand liquidity and market positioning.

To monitor US-listed equities like FORM, Bitget provides market tools and watchlists for investors who prefer a single platform to follow price quotes and corporate news. Use official filings and the company’s IR materials as the source of truth before drawing conclusions.

Further exploration: search company filings and verified financial data services for the most recent quantitative metrics on market cap, daily volume and revenue trends.