Cantor Fitzgerald Initiates Coverage of FormFactor (FORM) Stock

FORM +1.24%

FormFactor, Inc. (NASDAQ:FORM) is one of the Best Quantum Computing Stocks to Invest In Right Now. On November 18, Cantor Fitzgerald analyst Matthew Prisco initiated coverage of the company’s stock with an “Overweight” rating and a price objective of $75, as reported by The Fly. As per the analyst, the rally in the company’s stock price was driven by healthy HBM exposure, improvement in the gross margins, and elevated demand trends for advanced probe cards required for increasingly complex AI chips.

FormFactor, Inc. (NASDAQ:FORM)’s stock has witnessed an increase of over 70% since September 2. In Q3 2025, the company’s gross margin came in at 39.8% as compared to 37.3% in Q2 2025, with revenues coming at $202.7 million, up by 3.5% compared to Q2 2025. DRAM probe cards witnessed double-digit sequential growth, primarily due to growth in HBM.

FormFactor, Inc. (NASDAQ:FORM) has been executing a program of rapid and immediate gross margin improvement actions. These actions have already produced the 250 bps rise from Q2 2025. The company expects this to continue in Q4 2025 and throughout next year.

On a YoY basis in Q3 2025, the company’s revenue declined by 2.5%, with revenues from Probe Cards falling 3.4%. FormFactor, Inc. (NASDAQ:FORM)’s GAAP net income for Q3 2025 amounted to $15.7 million compared to GAAP net income of $9.1 million in the previous quarter, with GAAP operating expenses coming at $62.6 million, effectively flat as a percent of revenue compared to the previous quarter.

For Q4 2025, on a non-GAAP basis, the company expects revenues of $210 million (+/- $5 million) and gross margin of 42% (+/- 150 bps).

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Disclosure: None. This article is originally published at Insider Monkey.