FormFactor Director Sells 2,100 Shares
Key Points
The transaction size was equal to 8% of the direct equity stake held by the insider prior to the filing.
The disposal was completed through direct ownership, with the insider retaining 24,426 shares held directly.
The transaction followed a one-year total return for the stock of 240% as of the Sept. 3, 2026, transaction date.
Kelley Steven-Waiss, Director of FormFactor (NASDAQ:FORM), reported a sale of 2,100 shares of common stock on Sept. 3, 2026, according to a recent SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Transaction value | $201,810 |
| Shares sold (directly held) | 2,100 |
| Post-transaction shares (directly held) | 24,426 |
| Post-transaction value | $2.3 million |
Transaction value based on SEC Form 4 weighted average sale price ($96.10); post-transaction value based on Sept. 3, 2026, market close ($96.76).
Key questions
- What was the scale of this disposition relative to the insider's total equity?
The sale involved 2,100 shares, which equaled 8% of the 26,526 shares held directly by the Director before the filing. - How was the transaction priced relative to current market levels?
Shares were sold at $96.10 per share on Sept. 3, 2026, while the stock was priced at $103.90 as of the Sept. 4, 2026, market close. - Does the insider maintain significant remaining exposure to the company?
The insider continues to hold 24,426 shares directly, representing a total post-transaction value of $2.3 million based on the market close on the date of the sale.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-09-04) | $103.90 |
| Market Capitalization | $8.8 billion |
| Revenue (TTM) | $902.2 million |
| Net Income (TTM) | $115.5 million |
Company Snapshot
- FormFactor designs, manufactures, and globally distributes advanced test and measurement solutions for the semiconductor industry, with primary revenue streams from its Probe Cards and Systems divisions, which serve semiconductor manufacturers and research institutions.
- The company generates revenue through the sale of specialized probe card components used to verify integrated circuit functionality and through complementary test and measurement systems that support semiconductor manufacturing and validation processes.
- FormFactor's primary customers are leading semiconductor manufacturers and research institutions that require advanced testing solutions to ensure product quality and performance across diverse integrated-circuit applications.
FormFactor is an established semiconductor test solutions provider headquartered in Livermore, California, with a workforce of 2,153 employees and a market capitalization of $8.8 billion. The company maintains a competitive position through specialized expertise in probe card technology and test systems, serving as a critical infrastructure provider within the semiconductor manufacturing ecosystem. With TTM revenue of $902.2 million and net income of $115.5 million, FormFactor demonstrates strong operational performance and profitability within its specialized market segment.
What this transaction means for investors
On Sept. 3, Steven-Waiss sold 2,100 shares in a transaction that was valued at approximately $202,000. Looking at the details of the transaction, however, this largely appears to be a routine sale. Over the last 12 months, shares of FormFactor have skyrocketed 284.3%. In comparison, the S&P 500 is up 17.4% over the same period. With how high the stock price has climbed, it isn't out of the ordinary that an insider may consider taking some gains off the table.
In addition, while 2,100 shares were sold, Steven-Waiss still holds more than 24,000 shares. Retaining that number of shares indicates continued alignment with FormFactor's future success, again suggesting this is most likely just a routine sale and not something shareholders should be overly worried about.
For what could be ahead for FormFactor, analysts appear bullish. Of the 10 who cover the stock, the median one-year price target is $165, according to CNN. From the price as of this writing, $111.88, that would represent a potential gain of 47.4%. The group's highest price target, $175, is slightly more bullish, implying a 56.4% gain. The group's lowest price target, $100, would represent a 10.6% loss.
Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends FormFactor. The Motley Fool has a disclosure policy.