FormFactor CEO Mike Slessor sold 16,002 shares of common stock on 14 August 2026 for approximately $2 million, according to an SEC filing. The transaction was executed under a Rule 10b5-1 trading plan adopted in August 2025. The sale represented a 3% reduction in Slessor's stake, leaving him with direct ownership of 484,204 shares. Shares traded at a weighted average price of $130.95 on the transaction date. FormFactor, a semiconductor testing solutions provider with a $10 billion market capitalisation, has seen its stock price surge 335% over the past year. The company reported trailing twelve-month revenue of $902 million, up 18% year-over-year, with an operating margin of 12.9%.

Semiconductor test equipment stocks fell sharply on Wednesday, with Aehr Test Systems dropping 10% to $111.01, Teradyne declining 5% to $383.80, FormFactor down 6% to $117.27, and Cohu falling 6% to $55.73. The broader SPDR S&P Semiconductor ETF slipped just 2%, indicating concentrated selling in test equipment names. No company-specific news drove the decline. The selloff appears to be profit-taking after substantial year-to-date gains, with Aehr Test Systems up 510% through Tuesday's close. The moves came despite relief in the bond market, where the Treasury Department announced it would at least double buybacks of long-dated government debt. The 30-year yield declined 8 basis points to 5.2% after reaching its highest level since 2007 earlier this week. Aehr Test Systems reported trailing twelve-month revenue of $50.9 million and a net loss of $7.1 million.

Why FormFactor (FORM) stock is up today. Jabin Bastian What happened? Shares of semiconductor testing company FormFactor (NASDAQ:FORM) jumped 25.6% in the afternoon session after the company reported second-quarter results that beat Wall Street's expectations on both the top and bottom lines and provided an upbeat outlook. The company posted adjusted earnings of $0.82 per share on revenue of $258.2 million, a 31.9% increase year-over-year. The strong performance pushed the company's annualized revenue run rate past the $1 billion mark. Looking ahead, FormFactor's midpoint guidance for the third quarter projects continued momentum, with adjusted earnings of approximately $0.86 per share on revenue of about $270 million, which was also well above consensus estimates. What is the market telling us. FormFactor's shares are extremely volatile and have had 64 moves greater than 5% over the last year. But moves this big are rare even for FormFactor and indicate this news significantly impacted the market's perception of the business. The previous big move we wrote about was 2 days ago when the stock dropped 10.8% on the news that Semiconductor stocks continued to pull back amid a broad global sell-off, fueled by concerns over increased competition from China and growing doubts about the sustainability of AI-related demand. China's expanding domestic chip capacity and push for technological self-sufficiency raised fears of greater pricing pressure and market-share losses for established manufacturers. Amkor (AMKR) led the decline, falling nearly 24% after its third-quarter revenue guidance fell short of analyst expectations, overshadowing a second-quarter earnings beat. Meanwhile, Vishay Intertechnology (VSH), FormFactor (FORM), Penguin Solutions (PENG), and Micron (MU) dropped roughly 9%-11% due to the broader macroeconomic pressures. Uncertainty surrounding trade restrictions and access to the Chinese market further weighed on sentiment across the sector.The sector-wide decline was part of a rout that saw international peers like SK Hynix and Samsung drop over 13% in Asian trading. Investor anxiety was heightened by reports of China's progress in advanced chip manufacturing - specifically, the successful mass production of homegrown immersion deep ultraviolet (DUV) lithography machines - and the strong stock market debut of Chinese competitor ChangXin Memory Technologies. These developments sparked fears of a future oversupply of memory chips and increased pricing pressure. Additionally, fresh doubts surfaced regarding the long-term durability of the spending boom on artificial intelligence infrastructure, causing investors to pull back from AI-linked stocks with high valuations. Faced with the reality of increasing Chinese hardware supply and potentially moderating global AI demand, markets were forced into an aggressive repricing of the entire sector.