FORM FormFactor Inc.

$FORM FormFactor initiated with a Buy at Deutsche Bank Deutsche Bank initiated coverage of FormFactor with a Buy rating and $200 price target. The company has "cemented itself" as the second source of probe cards for Nvidia's graphic processing units at TSMC, the analyst tells investors in a research note. The firm says this opens up a total addressable market which is equal in dollar value to FormFactor's total logic probe card sales in 2026 of $500M. It expects the first sales in the second half of 2026, with a path towards 20% share by 2028. And despite giving up 40% of share to Technoprobe, Deutsche thinks FormFactor's high bandwidth memory sales can still reach $400M in 2028.

A 228% run in 12 months for FormFactor, with profit at $115M over the past 12 months, up 163%. The company scores a 16 right now, Excellent, #103 of 3,283. $FORM

$FORM : is showing a bullish triangle breakout, with price around $149.15 pushing above the descending resistance line and the $140 breakout zone. Holding above roughly $135–$140 would support continued bullish momentum, with potential upside toward $160 and then the $180 area. Key support sits near $119.11, followed by approximately $101.47 if the breakout fails.

$FORM Follow-up: FormFactor, a Livermore maker of chip probe cards and test gear, will sell Teradyne 2,234,887 new shares for ~$300.0M, or ~$134.2 each, per an Oct 13 8-K. Its Oct 12 release gave only the $300M total. The price is ~3.9% below the $139.65 Oct 9 close, and the stake equals ~2.9% of FORM's 78.0M Q2 weighted basic shares. In return FORM gets the cash and a test-technology collaboration with Teradyne. Signed Oct 6, the deal is expected to close in fiscal Q4 2026, subject to customary conditions and regulatory approvals.

$FORM Teradyne is putting 300 million dollars into FormFactor common stock as part of a broad semiconductor test collaboration announced Monday. An equity check alongside the partnership, not just a joint press release. The overlap is specific. FormFactor brings probe and interface tech, Teradyne brings the automated test platforms, and the target list is high-performance compute, advanced packaging, HBM and silicon photonics. Shares rose about 5 percent in extended trading. The deal still needs regulatory approval and customary closing conditions.

FormFactor announced a strategic technology collaboration with Teradyne, which will invest $300 million in FormFactor common stock, subject to customary closing conditions and regulatory approvals. The partnership will combine FormFactor’s probe technologies and interface solutions with Teradyne’s automated test platforms to address increasingly complex semiconductor testing requirements. The collaboration will focus on test architectures for high-performance computing, advanced packaging, high-bandwidth memory (HBM) and silicon photonics, areas increasingly important to AI infrastructure. By integrating their technologies, the companies aim to improve testing performance, scalability and time to market while helping customers move more efficiently from technology development to high-volume manufacturing. FormFactor CEO Mike Slessor said the partnership will accelerate innovation by combining the company’s expertise in device characterization. $FORM $TER

$FORM (FormFactor, a Livermore maker of chip probe cards and test gear): Teradyne has agreed to buy $300M of its common stock in a test-technology tie-up. That nears the $345.6M of cash and marketable securities FORM held at June 27 and is ~2.8% of its ~$10.9B market value at the $139.65 Oct 9 close (78.0M Q2 basic shares). FORM gets cash and a leading test-equipment maker as holder; holders face dilution at a price per share not disclosed. Closing needs customary conditions and regulatory approvals; no date given.

$FORM Deutsche Bank initiated coverage today with a Buy and a 200 target. The stock is up ~9.5% to ~149, and ~167% this year (Dow Jones). The substance is the Nvidia read. Analyst George Brown says FormFactor has "cemented itself" as the second source of probe cards for Nvidia's GPUs at TSMC, with sales starting in the second half of this year. DB's math: up to 20% of that GPU probe-card business by 2028, worth 200M-plus in annual sales, against a 500M market that is roughly the size of FormFactor's entire probe-card business today. Brown's second point is HBM. FormFactor is dominant in high-bandwidth memory test equipment, and DB projects those sales growing to 400M even as Technoprobe pushes in. His 2028 earnings estimate is 6.30 a share, about 25% above the Street's 5.03. Next check is the Q3 print in late October. Consensus expects 86 cents a share on 270.4M in sales, vs 82 cents on 258.2M in Q2.