On August 19, FormFactor fell 5.94% in regular trading, trading at $115.01/share, with turnover of $15.46 million. The decline follows a 7.45% drop in the prior session, as the semiconductor equipment sector weakened for a second consecutive day.

On the news front, sector-wide selling pressure intensified profit-taking in the stock. Applied Materials fell 4.85%, Lam Research fell 5.65%, ASML declined 2.42%, AXT Inc dropped 10.96%, and KLA Corporation lost 4.34%, with broad sector weakness dragging on FormFactor.

The company had previously reported strong Q2 results, with revenue of $258.2 million significantly beating the consensus estimate of $240 million, and adjusted EPS of $0.82 surpassing the $0.61 estimate by 34%. The stock had accumulated substantial gains following the earnings beat, and continued unwinding of those gains amid deteriorating sector sentiment has amplified the pullback.

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