Wayne Enterprises reads: "At the start of your formation step you may transfer target equipment you control to an unequipped character you control"

Is this ability a triggered ability, triggered by the start of your formation step, or is "At the start of your formation step" simply a timing clause? Can you move an item multiple times in the same formation step?

More to the point, could you move an Advanced Hardware to a character, do 3 damage, move to another character, do 3 damage and so on?

Thanks in advance.

No you couldn't. It says you can only move equipment during your formation step, so each piece of equipment can only be moved once per round.

This is not correct, the power only triggers once and it says

you may transfer target equipment you control

which means you could only target 1 piece of equipment per round. In otherwords, you can only move 1 piece of equipment per formation step.

On a side note, please remember, you must complete your formation BEFORE this will trigger.

That doesn't sound right, Chad:

"At the start of your formation step you may transfer target equipment you control to an unequipped character you control"

The text states this is to be done at the start of the formation step.

The relevent rules are

405.1 As a player's formation step starts, that player may move his or her characters to rearrange his or her formation, then any powers or modifiers that trigger at the start of the formation step are added to the chain. Then the primary player gets priority.

506.1 Triggered effects can trigger at any time, even during a resolution of another effect or during a time when neither player has priority.

506.2 Whenever someone is about to receive priority, any triggered effects that have triggered but have not yet been added to the chain, are put on the chain.

The trigger occurs during a time in which no one has priority, which means as soon as someone would receive priority, the trigger goes onto the chain. In the case of the formation step, you actually complete your formation BEFORE you receive priority, which means you do not resolve the trigger until AFTER you complete your formation.