FormFactor, Inc. (NASDAQ:FORM) Short Interest Up 5.7% in June

FormFactor, Inc. (NASDAQ:FORM) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 1,850,000 shares, a growth of 5.7% from the May 31st total of 1,750,000 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average trading volume of 548,300 shares, the days-to-cover ratio is presently 3.4 days.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FORM shares. Needham & Company LLC increased their price target on shares of FormFactor from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Stifel Nicolaus lifted their target price on FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. B. Riley boosted their target price on FormFactor from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Evercore ISI initiated coverage on FormFactor in a report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.30.

Insider Buying and Selling

In other FormFactor news, Director Sheri Rhodes sold 13,319 shares of FormFactor stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $56.02, for a total value of $746,130.38. Following the completion of the transaction, the director now owns 7,634 shares in the company, valued at approximately $427,656.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $59.00, for a total transaction of $236,000.00. Following the transaction, the chief executive officer now owns 487,581 shares in the company, valued at approximately $28,767,279. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sheri Rhodes sold 13,319 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total transaction of $746,130.38. Following the completion of the sale, the director now owns 7,634 shares of the company’s stock, valued at approximately $427,656.68. The disclosure for this sale can be found here. Insiders have sold a total of 37,536 shares of company stock worth $2,075,394 in the last three months. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of FormFactor by 81.1% during the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after purchasing an additional 862,885 shares during the last quarter. Norges Bank acquired a new stake in shares of FormFactor in the fourth quarter valued at approximately $21,454,000. TimesSquare Capital Management LLC bought a new position in shares of FormFactor during the 4th quarter worth approximately $15,484,000. Vanguard Group Inc. increased its holdings in shares of FormFactor by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock worth $341,007,000 after acquiring an additional 224,599 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in FormFactor by 15.4% during the 3rd quarter. Sei Investments Co. now owns 1,286,351 shares of the semiconductor company’s stock valued at $44,945,000 after purchasing an additional 171,712 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors.

FormFactor Stock Performance

Shares of FORM stock opened at $62.22 on Thursday. The stock has a market cap of $4.80 billion, a PE ratio of 47.14 and a beta of 1.11. The stock has a 50-day moving average of $55.79 and a 200-day moving average of $46.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.51 and a quick ratio of 3.67. FormFactor has a one year low of $29.50 and a one year high of $62.68.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $168.73 million during the quarter, compared to the consensus estimate of $165.45 million. FormFactor had a net margin of 15.48% and a return on equity of 2.29%. As a group, sell-side analysts expect that FormFactor will post 0.72 earnings per share for the current year.

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.