FormFactor's stock soared 13.54% during intraday trading on Thursday, reflecting strong investor optimism following the company's latest financial report.

The semiconductor test technology company reported better-than-expected fourth-quarter results, with adjusted earnings per share of $0.46 significantly beating the consensus estimate of $0.35. Revenue reached $215.2 million, also surpassing expectations and showing strong year-over-year growth.

Furthermore, FormFactor provided encouraging guidance for the current quarter, expecting revenue of approximately $225 million and adjusted earnings per share around $0.45, both well above analyst forecasts. The positive earnings report prompted multiple analyst firms to raise their price targets on the company, reflecting increased confidence in FormFactor's growth prospects driven by strong demand in advanced packaging and high-performance compute markets.