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Formfactor inc   (NASDAQ: FORM)
    Sector  Technology    Industry Semiconductors
   Industry Semiconductors
   Sector  Technology
 
Price: $100.6100 $-1.09 -1.072%
Day's High: $103.16999816894531 Week Perf: -6.6 %
Day's Low: $ 99.77 30 Day Perf: -5.26 %
Volume (M): 1,124,624 52 Wk High: $ 160.27
Volume (M$): $ 0 52 Wk Avg: $88.69
Open: $102.49 52 Wk Low: $27.81



 Market Capitalization (Millions $) 8,009
 Shares Outstanding (Millions) 80
 Employees 2,153
 Revenues (TTM) (Millions $) 903
 Net Income (TTM) (Millions $) 115
 Cash Flow (TTM) (Millions $) 56
 Capital Exp. (TTM) (Millions $) 34

Business Description


FormFactor, Inc., headquartered in Livermore, California, is a leading provider of test and measurement technologies. We provide a broad range of high-performance probe cards, analytical probes, probe stations and thermal sub-systems to both semiconductor companies and scientific institutions. Our products provide electrical information from a variety of semiconductor and electro-optical devices and integrated circuits (devices) from development through production. Customers use our products and services to lower production costs, improve yields, and enable development of complex next generation devices.

FormFactor, Inc. was incorporated in 1993, and we introduced our first product in 1995. In June 2016, we acquired Cascade Microtech Inc. ("Cascade Microtech"), a leading manufacturer of advanced wafer probe cards, probe stations, and thermal sub-systems. The acquisition of Cascade Microtech transformed our business into a broader electrical test and measurement market leader with greater scale, diversification and market opportunities.

As of December 30, 2017, we operate in two reportable segments consisting of the Probe Cards Segment and the Systems Segment. Sales of our probe cards and analytical probes are included in the Probe Cards Segment, while sales of our probe stations and thermal sub-systems are included in the Systems Segment.

We design, manufacture and sell multiple product lines, including probe cards, analytical probes, probe stations, thermal sub-systems, and related services.

Probe cards. Our probe cards utilize a variety of technologies and product architectures, including micro-electromechanical systems (MEMS) technologies. We use advanced design and automation technologies to enable our rapid and cost-effective manufacturing of resilient multi-material composite spring-like electrically-conductive contact elements with characteristic length scales of a few microns. These contact elements are designed to provide a specific range of forces on, and across, a chip’s bond pad, solder bump, or copper pillar during the test process and maintain their shape and position over a range of compression levels. In addition, while maintaining these mechanical characteristics, the contact elements must achieve reliable and high-fidelity electrical contact through wafer surfaces that are generally oxidized or otherwise contaminated, and must maintain these attributes over hundreds of thousands, and even millions, of compression cycles. Our range of capabilities enable us to rapidly produce customer-design specific probe cards that deliver leading precision, reliability, and electro-mechanical performance.

Our probe cards are customized for our customers’ unique wafer and chip designs by modifying and adapting our standard product architectures to meet an individual customer’s design layout and electrical test requirements. We offer probe cards to test a variety of semiconductor device types, including “system on a chip” products, mobile application processors, microprocessors, microcontrollers, graphic processors, radio frequency, analog, mixed signal, image sensors, electro-optical, DRAM, NAND flash memory and NOR flash memory devices.

For many advanced applications, our products must maintain tens of thousands of simultaneous high-fidelity low-impedance electrical contacts with the corresponding chip contacts on the wafer. Our present technologies enable probe cards with over 100,000 contact elements with spacings as small as 40 microns over geometries as large as 300mm. In addition, for high signal-fidelity devices such as wireless radio frequency transceivers and automotive radar chips, our probe card technologies are capable of testing at millimeter-wave frequencies range, currently up to 81 GHz.

We have invested, and intend to continue to invest, considerable resources in proprietary probe card design tools and processes. These tools and processes are intended to enable the rapid and accurate customization of products required to meet customer requirements, including automated routing and trace length adjustment within our probe cards, to rapidly design complex structures.

In addition, some of our customers test certain chips over a large range of operating temperatures. We design probe cards to provide for a precise match with the thermal expansion characteristics of the wafer under test across the range of test operating temperatures. For many of our products, our customers can use the same probe card for both low and high temperature testing. We also design probe cards for customers that require extreme positional accuracy at a specific temperature.

Through on-going investments in both our technology and operations, we continue to innovate and improve so that our products will meet customers’ future technical roadmap performance, quality, and commercial requirements. We also focus upon leveraging these ongoing investments across all advanced probe card markets to realize synergies and economies of scale to benefit our competitiveness, time-to-market and overall profitability.

Analytical Probes. We offer over 50 different analytical probe models for engineering and production testing. Analytical probes are used for a diverse set of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging. Our customers for analytical probes include universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies. We continue to add new models of analytical probes that address measurements with higher complexities and at higher frequencies up to 1 THz.

Probe Stations. Probing systems are required in the development of new generations of semiconductor processes and designs. Probe stations are highly configurable for the required measurements, the size and type of wafer under test, the characteristics of the device design to be tested, and the temperatures at which testing is to be performed. Process development and design complexities have continually increased with each new generation of semiconductor technology to accommodate smaller design geometries, new materials and more layers. Probing systems are a fundamental tool for characterizing and verifying electrical performance and reliability to enable new semiconductor technologies. We design our probing systems for semiconductor design engineers to capture and analyze more accurate data in a shorter amount of time.

We build upon our probe stations to create integrated measurement systems that provide complete solutions for our customers’ complex measurement requirements. These systems include test instrumentation, probe, cabling configurations, and software to enable fast, accurate, on-wafer data collection for complex application and measurement needs. We offer pre-configured and customized measurement systems for production testing, power device characterization, vacuum probing, cryogenic probing, high-pressure probing, and a variety of other specific applications.

Thermal Subsystems. Our thermal subsystems produce thermal chucks and other test systems used in probe stations. Thermal chuck systems enable the testing of devices at precise temperatures or across a range of temperatures.

Services and Support. In addition to routine installation services at the time of sale, we offer services to enable our customers to maintain and more effectively utilize our products and to enhance our customer relationships. In addition to traditional maintenance services, our applications engineers assist our customers in test methodologies to make advanced measurements during process and product development, and during mass production.



   Company Address: 7005 Southfront Road Livermore 94551 CA
   Company Phone Number: 290-4000   Stock Exchange / Ticker: NASDAQ FORM


Customers Net Income grew by FORM's Customers Net Profit Margin grew to

168.6 %

38.35 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
AMAT   -5.33%    
SKYT      0% 
DHR   -0.72%    
DOV   -4.61%    
ESE   -0.94%    
LRCX   -2.8%    
• View Complete Report
   



Product Service News

FormFactor Debuts EVOLVITY 300 Probe System Amid Strong Revenue Growth, Outshining Competitors,

Published Wed, Apr 9 2025 7:33 AM UTC

FormFactor Unveils the EVOLVITY 300 Probe System, Expanding 300 mm Product Line Amid Financial Growth In an exciting development for the semiconductor testing industry, FormFactor Inc. a leading innovator in semiconductor wafer test and probe technology, has announced the release of the EVOLVITY 300 Probe System. This latest addition is a semi-automated system designed to en...

Product Service News

FormFactors Ambitious Expansion Navigating Investment and Market Challenges

Published Thu, Apr 3 2025 2:50 AM UTC

In a strategic move to bolster its operations, FormFactor Inc. has announced a significant investment aimed at doubling the capacity of its service center in Taiwan. This initiative is a response to the escalating demand for its products and a calculated effort to enhance customer support and satisfaction. The company, known for its advanced semiconductor test and measuremen...

Management Announcement

FormFactor Fuels Growth with FICT Acquisition and Stellar Return on Assets Performance,

Published Mon, Feb 24 2025 2:00 PM UTC

FormFactor s Strategic Acquisition and Robust Financial Performance Signal a Bright Future in the Semiconductor IndustryIn a significant move to bolster its position in the semiconductor and high-performance computing markets, FormFactor, Inc. (Nasdaq: FORM) has successfully completed its acquisition of FICT Limited (FICT) in partnership with the North Asia private equity f...

Partnership

Bridging the Future FormFactors Strategic Moves Amid Industry Dynamics,

Published Tue, Jan 7 2025 2:59 PM UTC

Bridging the Future: FormFactor s Strategic Moves Amid Industry Dynamics In the rapidly evolving landscape of the semiconductor and electronics industries, FormFactor Inc. stands at the forefront, leveraging strategic collaborations and addressing market fluctuations with agility. As a prominent player, FormFactor s recent expansions and financial outcomes underscore the com...

Product Service News

FormFactor and Advantest Forge Path for Silicon Photonics in High-Volume Production Amid Market Challenges

Published Thu, Nov 7 2024 9:05 PM UTC

In a bold move reflecting the growing significance of silicon photonics, FormFactor, Inc. and Advantest Corporation have announced a strategic partnership aimed at revolutionizing the manufacturing process of silicon photonics and co-packaged optics devices. This collaboration marks a significant step towards meeting the burgeoning demands of AI-driven data center architectu...




Fundamental Analysis

Valuation Current
Price to Earnings PE Ratio (TTM) 68.44
Price to Earnings PE Ratio (Expected) -
Price to Sales (TTM) 8.87
Price to Sales (Expected) -
Price to Book 7.21
PEG (TTM) 0.43

Financial Strength Current
Quick Ratio 2.11
Working Capital Ratio 4.08
Leverage Ratio (MRQ) 0.21
Total Debt to Equity 0.01
Interest Coverage (TTM) 15.46
Debt Coverage (TTM) 14.81

Per Share Current
Earnings (TTM) 1.47 $
Revenues (TTM) 11.35 $
Cash Flow (TTM) 0.7 $
Cash 4.35 $
Book Value 13.96 $
Dividend (TTM) 0 $

Efficiency Current
Revenue per Employee (TTM) 419,613
Net Income per Employee (TTM) 53,630
Receivable Turnover Ratio (TTM) 6.61
Inventory Turnover Ratio (TTM) 4.53
Asset Turnover Ratio (TTM) 0.72

Profitability Ratios Current
Gross Margin (MRQ) 50.7 %
Operating Margin (MRQ) 22.38 %
Net Margin (MRQ) 21.77 %
Net Cash Flow Margin (MRQ) 0 %
Effective Tax Rate (TTM) 12.52 %

Management Effectiveness Current
Return On Assets (TTM) 9.18 %
Return On Investment (TTM) 10.28 %
Return On Equity (TTM) 10.96 %
Dividend Yield -
Pay out Ratio (TTM) -



Formfactor Inc's Segments
Probe Cards    157.97 % of total Revenue
Systems    29.6 % of total Revenue
Foundry & Logic Product Group    90.24 % of total Revenue
DRAM Product Group    65.03 % of total Revenue
Singapore Probe Cards    2.71 % of total Revenue
Systems Product Group    29.6 % of total Revenue
Taiwan    63.99 % of total Revenue
Korea, Republic of    59.63 % of total Revenue
Taiwan Probe Cards    26.19 % of total Revenue
Systems Systems    10.94 % of total Revenue
Europe    6.68 % of total Revenue
Malaysia    4.95 % of total Revenue
Singapore    6.59 % of total Revenue
Rest of the World    3.54 % of total Revenue
Japan    5.07 % of total Revenue

  Formfactor Inc Outlook

On July 31 2024 the Formfactor Inc provided following guidance

nnFormFactor, Inc. Releases Financial Results for the Second Quarter of 2024nn

FormFactor, Inc. has shared its financial results for the second quarter of 2024, highlighting a performance that surpassed the midpoint of its previous revenue and profitability forecasts. The company expressed optimism regarding market trends, asserting that consistent demand is anticipated as it approaches the third quarter. However, it is worth noting that the report did not provide specific numerical forecasts or projections concerning future revenue or profitability.

Q2 Revenue and Profitability Surpass Midpoint of Projections;
Expects Steady Demand in the Upcoming Quarter ...





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