QM · rank #6 · 2026-06-05
FORM
NASDAQ · $9.75B
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +407.56% |
|---|---|
| ROE TTM Return on equity, trailing 12 months. | +6.8% |
| Profit margin Net profit margin, trailing 12 months. | +8.1% |
| Market cap Size filter: > $500M required. | $9.75B |
| Anchor (recent) Close on 2026-05-06 | $149.12 |
| Anchor (far) Close on 2025-05-06 | $29.38 |
The AI research card
Independent qualitative review of each pick before the order is placed.
Summary
FormFactor is a leading semiconductor test equipment supplier specializing in probe cards and cryogenic systems for advanced wafer-level testing at leading-edge nodes and in AI/HBM packaging.
Rationale
Strong 12-month momentum (4.08) is supported by Q1 2025 revenue growth of 27% YoY, beat guidance, and robust forward demand from advanced packaging and AI-driven logic/memory capex, while 6.75% ROE and 8.14% profit margin reflect operational leverage in a high-barrier, mission-critical supplier role.
Material risks
- 1Concentrated customer base among major foundries and memory manufacturers creates acute exposure to customer-specific capex cuts or insourcing of probe card capabilities, which could rapidly reverse near-term revenue momentum.
- 2U.S.–China export controls and geopolitical tensions pose material risk to shipments of advanced test technology and capex demand from Chinese semiconductor customers, a key growth driver.
Verdict reasoning
two_stage score=+3/3 verdicts={'openai': 'PROCEED', 'claude': 'PROCEED', 'gemini': 'PROCEED'} brief=caller-supplied