$FORM

Freedom Capital upgraded FormFactor (NASDAQ: FORM) to Buy with a $140 price target, citing undervaluation and strong long-term outlook. The stock has fallen 13% in a week and 36% in six months, despite a 59% gain over a year. The company reported record Q3 2026 earnings, exceeding expectations with $1.04 EPS and $280.5M revenue, up 40% YoY. Analysts noted capacity expansion and a $300M investment from Teradyne.

FormFactor Inc (FORM) reported Q3 2026 revenue up 40% YoY, exceeding expectations. Record DRAM probe card revenue and gross margins were achieved, with TRITON revenue expected to exceed $30M. The company is ramping a new facility, but faces capacity constraints and potential margin pressures. Partnerships with Teradyne and Advantest were expanded, including a $300M investment.

TD Cowen kept FormFactor at Hold but raised its price target to $110 from $100. The new target is near the stock's recent close of $110.31. Other analysts have set targets ranging from $140 to $200.

FormFactor (FORM) reported Q3 adjusted earnings of $1.04 per share, beating expectations. Revenue and guidance were also strong, but shares fell 11% in after-hours trading. The stock has risen 86% year-to-date.

FORMFACTOR INC (FORM) filed an SEC Form 8-K — Results of Operations and Financial Condition. EXHIBIT 99.01 News Release Investor Contact: Stan Finkelstein Investor Relations (925) 290-4273 ir@formfactor.com FORMFACTOR, INC. REPORTS 2026 THIRD QUARTER RESULTS Delivers Revenue, Gross Margin, and Earnings Per Share Exceeding the High End of the Outlook Range; Sees Continued

FormFactor Inc. is set to report Q3 earnings, with analysts expecting 86 cents EPS on $270.5M revenue, up 161% and 33% YoY. Investors will watch for updates on Nvidia probe card supply, HBM probe card demand, and capacity expansion. Analysts rate the stock Buy with a $152.22 target, implying 42% upside. The company recently secured a $300M investment from Teradyne.

Several semiconductor stocks rose after Broadcom secured $63B in financing for AI chips, and Anthropic filed for an IPO. Penguin Solutions (PENG) +7.8%, Broadcom (AVGO) +3.8%, FormFactor (FORM) +5.9%, Lattice Semiconductor (LSCC) +5.2%, AMD (AMD) +5.3%. PENG is up 190% YTD but -27.7% from its 52-week high.

Shares of Applied Materials, Lam Research, KLA Corporation, FormFactor, and Penguin Solutions fell due to supply chain bottlenecks and cleanroom space constraints limiting semiconductor equipment production. Lam Research cited these issues during its earnings call, noting they will persist through 2027. The stocks dropped between 7% and 13.7%, with FormFactor showing significant volatility.

Freedom Capital Markets kept a Hold rating on FormFactor with a $140 price target, suggesting a 30% upside from the Oct 20 close. The firm cited near-term uncertainty due to tech sector volatility and growth dependence on acquisitions.

Shares of FormFactor (FORM), Teradyne (TER), Entegris (ENTG), Kulicke and Soffa (KLIC), and Seagate (STX) rose on investor optimism, driven by an Intel upgrade and lower Treasury yields. The Nasdaq had fallen 4.5% the prior week due to AI revenue concerns and credit spreads. FormFactor's stock is up 90.8% year-to-date but remains 29.4% below its 52-week high.