Buy now: post-earnings upside catalyst is strong (Q4 beat + YoY growth), and options positioning is decisively bullish.
Momentum likely flips up: the after-hours +14% move to ~$81.5 pushes price back above key resistance (R1 ~82.33 is in reach), suggesting a breakout attempt rather than a dead-cat bounce.
Main pushback: heavy insider selling recently is the biggest red flag, but it’s being outweighed (today) by earnings surprise + hedge-fund accumulation + bullish options skew.
Trend/Momentum: Pre-earnings technicals were soft (MACD histogram -1.065 and negatively expanding), indicating bearish momentum into the print.
RSI: RSI(6) ~44 = neutral-to-soft (not oversold), so the stock wasn’t technically “washed out” before the move.
Moving averages: converging MAs suggests the stock was coiling; the after-hours surge increases the odds of a directional breakout.
Levels to watch: Pivot ~76.02 (now likely support if post-market holds); Resistance R1 ~82.33 then R2 ~86.23; Support S1 ~69.71.
Near-term path: Pattern-based projection provided skews negative over 1W/1M, but it may be stale vs. the earnings-driven regime shift after-hours.
Options Data
Bullish
Open Interest Put-Call Ratio
Bullish
Option Volume Put-Call Ratio
Sentiment: Put/Call ratios are very low (OI PCR 0.34; Volume PCR 0.24) = strongly bullish skew (more calls vs puts).
Activity: Today’s option volume is elevated (vs 30D avg ~167.7%), pointing to high post-earnings positioning.
Volatility: IV(30D) ~94.9 with IV percentile ~97.6 = options are very expensive (market pricing big moves), consistent with earnings reaction.
Takeaway: Options market is positioned bullish, but implied volatility is already extremely elevated (move is being “paid for”).
Technical Summary
Sell
3
Buy
10
Positive Catalysts
support upside narrative.
Neutral/Negative Catalysts
can attract profit-taking if follow-through volume is weak.
Financial Performance
Latest quarter (QDEC 2025 / Q4, reported 2026-02-04): Revenue $215.1M (+13.5% YoY) and non-GAAP EPS $0.46 (beat), indicating re-acceleration versus the prior quarter’s softness.
Prior reported snapshot (2025/Q3) showed contraction: revenue -2.52% YoY, net income -16.44% YoY, EPS -16.67% YoY, gross margin 39.78% (down YoY). The Q4 report is a notable improvement in trajectory.
What matters now: the market appears to be rewarding the shift back to growth and better profitability expectations (also echoed by analyst commentary on gross margin improvement).
Growth
Profitability
Efficiency
Analyst Ratings and Price Target Trends
Trend: Overall analyst stance has been constructive and trending upward on targets (Citi raised PT to $96 and maintained Buy; B. Riley raised PT to $78 with Buy; Cantor initiated Overweight $75).
Bearish/neutral counterpoint: Freedom Capital initiated Hold with $64 PT, arguing the big share-price run has worsened risk/reward.
Wall Street pros: strong AI/HBM/advanced probe-card demand narrative, margin improvement/inflection potential, and multi-year EPS upside scenarios.
Wall Street cons: concerns that price has already moved a lot (crowded/extended), making near-term upside more sensitive to execution and guidance follow-through.
Wall Street analysts forecast FORM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FORM is 57 USD with a low forecast of 42 USD and a high forecast of 78 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
Wall Street analysts forecast FORM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FORM is 57 USD with a low forecast of 42 USD and a high forecast of 78 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Buy
5 Hold
0 Sell
Moderate Buy
Current: 83.870
Low
42
Averages
57
High
78
Current: 83.870
Low
42
Averages
57
High
78
TD Cowen
Hold
maintain
$50 -> $80
AI Analysis
2026-02-05
New
Reason
TD Cowen
Price Target
$50 -> $80
AI Analysis
2026-02-05
New
maintain
Hold
Reason
TD Cowen raised the firm's price target on FormFactor to $80 from $50 and keeps a Hold rating on the shares. The firm said they reported a quarterly beat and raise driven by continued strength in DRAM probe card demand and expanding opportunities in F/L.
Stifel
Hold
maintain
$65 -> $75
2026-02-05
New
Reason
Stifel
Price Target
$65 -> $75
2026-02-05
New
maintain
Hold
Reason
Stifel raised the firm's price target on FormFactor to $75 from $65 and keeps a Hold rating on the shares following Q4 revenue being reported at the high-end of the guidance range and EPS coming in above the high-end of the range. The "only remaining nit to pick here might be valuation/entry point," the analyst says.
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