Why FormFactor Stock Is Skyrocketing Today

FormFactor (FORM) surged 25.82% on July 30, 2026, after reporting second-quarter results that crushed expectations. The semiconductor test equipment maker posted adjusted earnings of $0.82 per share on revenue of $258.2 million, both topping analyst estimates.

Management raised third-quarter guidance to $0.86 per share and $270 million in revenue, well above Wall Street's prior targets. The beat and raise come as FormFactor benefits from its exposure to memory chip testing, a segment gaining traction amid AI infrastructure buildout.

Samsung's recent commentary on supply constraints persisting through 2028 added fuel to the rally, rekindling investor appetite for picks-and-shovels plays in the memory semiconductor supply chain. FormFactor's probing systems are critical for testing high-bandwidth memory chips used in AI accelerators.

The 26% single-day pop marks one of the stock's largest gains in recent years and places shares at multi-month highs. Volume spiked as momentum traders and AI-theme funds rotated back into chip equipment names.