FormFactor, Inc. (NASDAQ:FORM) Sees Large Growth in Short Interest

FormFactor, Inc. (NASDAQ:FORM) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 2,370,000 shares, an increase of 6.8% from the August 31st total of 2,220,000 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 690,200 shares, the days-to-cover ratio is currently 3.4 days.

FormFactor Trading Down 4.0 %

FormFactor stock opened at $44.17 on Wednesday. FormFactor has a 12 month low of $31.51 and a 12 month high of $63.63. The company has a quick ratio of 3.64, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.41 billion, a P/E ratio of 33.46 and a beta of 1.11. The company’s fifty day simple moving average is $46.47 and its 200-day simple moving average is $50.62.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. The firm had revenue of $197.47 million for the quarter, compared to the consensus estimate of $195.01 million. As a group, sell-side analysts forecast that FormFactor will post 0.74 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.93, for a total transaction of $203,720.00. Following the completion of the transaction, the chief executive officer now owns 523,187 shares of the company’s stock, valued at $26,645,913.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jorge Titinger sold 6,770 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total transaction of $283,933.80. Following the completion of the sale, the director now owns 12,970 shares in the company, valued at approximately $543,961.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.93, for a total value of $203,720.00. Following the sale, the chief executive officer now directly owns 523,187 shares of the company’s stock, valued at $26,645,913.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,770 shares of company stock worth $672,894. 0.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On FormFactor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FORM. Riverview Trust Co acquired a new position in shares of FormFactor during the 1st quarter worth $28,000. Innealta Capital LLC bought a new position in FormFactor during the second quarter valued at about $38,000. Redwood Wealth Management Group LLC acquired a new stake in shares of FormFactor in the second quarter worth about $43,000. LRI Investments LLC acquired a new stake in shares of FormFactor in the first quarter worth about $70,000. Finally, Covestor Ltd boosted its stake in shares of FormFactor by 3,951.3% during the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 1,541 shares in the last quarter. Institutional investors own 98.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of FormFactor in a research report on Thursday, August 1st. TD Cowen raised their target price on shares of FormFactor from $48.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. DA Davidson boosted their price target on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 1st. B. Riley upped their price target on shares of FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Stifel Nicolaus lifted their price objective on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, FormFactor currently has an average rating of “Hold” and a consensus target price of $59.63.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.