On June 25, FormFactor rose 6.84% in regular trading, trading at $153.05/share, with turnover of $13.28 million.

On the news front, the company announced it will be officially added to the US large-cap Russell 1000 Index effective June 29 as part of the annual reconstitution. This inclusion means passive funds tracking the index will be required to allocate shares, potentially driving significant incremental capital inflows.

Additionally, B.Riley upgraded FormFactor from Neutral to Buy, maintaining a $165 price target, while Evercore ISI upgraded the stock to Outperform with a $155 target. The company reported first-quarter revenue of $230 million, with gross margin improving 5.1 percentage points sequentially to 49.0%, and raised its second-quarter guidance, signaling continued fundamental strength. The index inclusion and rating upgrades appear to be reinforcing each other to drive the current rally.

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