FORM · NASDAQ · STOCK
FormFactor (FORM) Stock Analysis
$139.60
52W $38.12 – $160.27
62/100
$10.89B
94.4
1.18
⚠
Buy rating, but near-term risk/reward is unfavorable
The long-term recommendation is based on the composite investment score. The near-term risk/reward is based on nearby support and resistance levels. These can differ when a strong company trades close to resistance with support further below.
Is FORM Bullish or Bearish?
Bullish.
Innellis AI committee rates FormFactor, Inc. (FORM) Buy with a composite score of 62/100
, based on 6 analysts with 67% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +13.03 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -6.97 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Growth Analyst sees a compelling case — eps growing 156.2% yoy. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- EPS growing 156.2% YoY — Growth
- 4 consecutive earnings beats -- consistent execution — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- Price structure making higher highs and higher lows — Technical
- MACD histogram positive -- bullish momentum — Technical
- Weekly trend (uptrend) confirms the daily trend -- multi-timeframe agreement — Technical
Bear Case
- P/E of 95.7 is expensive by classic value standards — Value
- Price-to-book of 4.3x prices in significant intangible value — Value
- Bollinger bandwidth of 47.9% signals elevated volatility — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
62/100
Agreement
67%
Analysts
6
Conviction
Moderate
Sector Rank
Top 22%
of 287 Technology peers
Value Analyst
bearish
40
/ 100 · Moderate confidence
Multiples don't clear a genuine value bar here, or cheapness looks justified by weak fundamentals
− P/E of 95.7 is expensive by classic value standards
Growth Analyst
bullish
79
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ EPS growing 156.2% YoY
Technical Analyst
bullish
69
/ 100 · High confidence
Price action is constructive -- trend and momentum agree
+ Price structure making higher highs and higher lows
Risk Analyst
neutral
58
/ 100 · Moderate confidence
Moderate risk -- no single red flag, but nothing that clearly de-risks the position either
+ Low leverage (debt-to-equity 0.01) -- balance sheet can absorb a shock
− Bollinger bandwidth of 47.9% signals elevated volatility
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
62
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 62.0 to 62.0.
- New bearish signals: 2 appeared.
- Bearish pressure eased: 2 signal(s) disappeared.
Analyst-level changes:
- Risk Analyst: +1 bearish signal(s).
- Value Analyst: +1 bearish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
57.7
Neutral
MACD Histogram
0.274
Bullish Momentum
Trend Direction
Uptrend
Weekly: Uptrend
Market Structure
Mixed
Support
$112.64
Resistance
$158.96
Bollinger %B
0.66
Inside Bands
Price vs Moving Averages
EMA 9
$139.33
Above
EMA 21
$131.99
Above
EMA 50
$124.10
Above
EMA 200
$107.12
Above
Fundamental Analysis
Valuation
33
Growth
94
Profitability
50
Financial Health
100
Cash Flow
70
Valuation
P/E Ratio
94.4×
P/B Ratio
9.79×
PEG Ratio
0.59
Dividend Yield
0.00%
52W High
$160.27
52W Low
$38.12
Quality & Growth
ROE
525.0%
ROA
444.0%
Gross Margin
4563.9%
Operating Margin
1686.1%
Revenue Growth YoY
—
Debt / Equity
0.03
AI Fundamental Assessment
P/E ratio of 94.4 (rich relative to a 15-40x range); Price-to-book of 9.8x; PEG ratio of 0.6 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 5.3%; Return on assets of 4.4%; Net margin of 12.8%; Gross margin of 45.6%; Current ratio of 4.08 (healthy short-term liquidity); Debt-to-equity of 0.03; Free cash flow per share is positive (1.75); Most recent quarter beat estimates by 31.9%; 4 consecutive earnings beats; EPS growth accelerating (+23.9% -> +43.9% QoQ); Analyst estimates rising over recent quarters
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