FORM
FormFactor, Inc. Technology - Semiconductor Equipment & Materials Investor Relations →
FormFactor, Inc. (FORM) closed at $92.22 as of 2026-03-20, trading 130.8% above its 200-week moving average of $39.97. The stock moved further from the line this week, up from 126.5% last week. With a 14-week RSI of 72, FORM is in overbought territory.
Trading volume is running at 1.5x of its 14-week average, which is in the normal range. The balance between buying and selling volume (1.00 ratio) is neutral — neither side is clearly dominating.
Over the past 1140 weeks of data, FORM has crossed below its 200-week moving average 16 times. On average, these episodes lasted 28 weeks. Historically, investors who bought FORM at the start of these episodes saw an average one-year return of +54.7%.
With a market cap of $7.2 billion, FORM is a mid-cap stock. Free cash flow yield is currently negative, meaning the company is burning cash. Return on equity stands at 5.5%. The stock trades at 6.9x book value.
Over the past 21.9 years, a hypothetical investment of $100 in FORM would have grown to $491, compared to $863 for the S&P 500. FORM has returned 7.5% annualized vs 10.3% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -43.9% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: FORM vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After FORM Crosses Below the Line?
Across 16 historical episodes, buying FORM when it crossed below its 200-week moving average produced an average return of +47.4% after 12 months (median +43.0%), compared to +14.1% for the S&P 500 over the same periods. 94% of those episodes were profitable after one year. After 24 months, the average return was +57.4% vs +30.6% for the index.
Each line shows $100 invested at the moment FORM crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
FORM has crossed below its 200-week MA 16 times with an average 1-year return of +54.7% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| May 2004 | Jun 2004 | 4 | 8.1% | +40.1% | +388.7% |
| Jun 2004 | Oct 2004 | 16 | 18.3% | +28.5% | +351.2% |
| Apr 2005 | Apr 2005 | 1 | 2.5% | +96.9% | +346.8% |
| Oct 2005 | Oct 2005 | 1 | 6.2% | +109.9% | +345.3% |
| Dec 2007 | Feb 2014 | 321 | 70.7% | -51.2% | +201.7% |
| Mar 2014 | May 2014 | 11 | 18.8% | +36.0% | +1262.2% |
| Oct 2014 | Oct 2014 | 1 | 3.7% | +18.5% | +1359.2% |
| Aug 2015 | Aug 2015 | 1 | 7.2% | +78.3% | +1437.0% |
| Feb 2016 | Feb 2016 | 1 | 6.2% | +92.4% | +1354.6% |
| May 2016 | May 2016 | 1 | 0.2% | +108.6% | +1250.2% |
| Aug 2022 | Feb 2023 | 23 | 37.1% | +26.2% | +231.3% |
| Feb 2023 | Jul 2023 | 20 | 14.4% | +35.4% | +203.0% |
| Aug 2023 | Sep 2023 | 7 | 8.4% | +37.6% | +190.2% |
| Oct 2023 | Oct 2023 | 2 | 2.9% | +33.1% | +179.6% |
| Nov 2024 | Nov 2024 | 1 | 1.0% | +32.7% | +144.0% |
| Feb 2025 | Sep 2025 | 34 | 35.8% | +151.9% | +157.3% |
| Average | 28 | — | +54.7% | — |
Frequently Asked Questions
Is FORM below its 200-week moving average?
No. FormFactor, Inc. (FORM) is currently 130.8% above its 200-week moving average of $39.97. It would need to fall to $39.97 to cross below the line.
What is FORM's 200-week moving average price?
FormFactor, Inc.'s 200-week moving average is $39.97 as of 2026-03-20. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when FORM drops below its 200-week moving average?
FORM has crossed below its 200-week moving average 16 times in our data. On average, buying at that moment produced a one-year return of +54.7%. These dips have historically been decent entry points. These episodes lasted 28 weeks on average.
Is FORM a good value right now?
Here's what our data says about FORM as of 2026-03-20: The stock is above its 200-week moving average, so it doesn't currently meet our primary signal. The 14-week RSI is 72 (overbought). Free cash flow is currently negative. Return on equity is 5.5%. Price-to-book is 6.9x. This is not a buy or sell recommendation — always do your own research.
How does FORM compare to the S&P 500?
Over the past 21.9 years, $100 invested in FORM would have grown to $491, compared to $863 for the S&P 500. That's 7.5% annualized vs 10.3% for the index. FORM has underperformed the broader market over this period.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-03-20