Why Is FORMFACTOR INC (FORM) Stock Up Today?

FormFactor shares rose 10.90% to $96.82 on Thursday, driven by a strong third-quarter earnings report and a bullish upgrade from Freedom Capital Markets. The stock had previously declined 8.1% over the last eight sessions, making today’s surge a significant reversal of recent momentum.

What Happened

The primary catalyst for the move was the company’s release of robust Q3 results, which showed revenue up 38.4% to $280.5 million alongside strong profit growth. This performance was accompanied by an upgrade from Freedom Capital Markets, which moved its rating from Hold to Buy while maintaining a price target of $140. Other analysts offered mixed views, with Needham maintaining a Hold rating and TD Cowen also holding a Hold rating but raising its price target to $110. The company’s new factory is expected to determine its future growth rate, a factor highlighted in recent coverage.

What The Data Shows

The stock opened at $90.74, a 3.9% gap up from the prior close of $87.30. It reached a session high of $97.10 at 10:10 AM ET and a low of $90.27 at 9:30 AM ET. Volume was 0.2 million shares, which is 0.1 times the three-month daily average. Fundamentals show a market cap of $6.8 billion, a P/E of 40.2, and trailing twelve-month revenue growth of 29.1%. The net margin stands at 17.7%, with a beta of 1.18. The 52-week range is $47.33 to $160.27. On the 52-week tape, the stock printed 13 fresh highs and one fresh low on November 3, 2026. Insider activity over the last 90 days includes four sells totaling $5.5 million, with no buys. CEO Mike Slessor sold shares on October 14 and September 16, 2026, while director Kelley Waiss sold on September 3, 2026.

What To Watch

Investors will monitor the company’s ability to sustain its growth trajectory following the new factory expansion. The recent upgrade and strong earnings provide a positive backdrop, though the stock’s volatility remains high given its beta and recent 52-week price action.