FormFactor, Inc. (NASDAQ:FORM) Sees Significant Increase in Short Interest

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. 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. DA Davidson upped their target price on FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price target on FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of FormFactor in a report on Thursday, August 1st. Finally, StockNews.com lowered shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.63.

FormFactor Trading Down 0.6 %

Shares of FORM stock traded down $0.30 during trading hours on Monday, hitting $46.00. 743,195 shares of the company were exchanged, compared to its average volume of 572,405. FormFactor has a 1 year low of $31.51 and a 1 year high of $63.63. The firm has a fifty day moving average of $46.79 and a 200 day moving average of $50.61. The firm has a market cap of $3.55 billion, a PE ratio of 34.85 and a beta of 1.11. The company has a quick ratio of 3.64, a current ratio of 4.46 and a debt-to-equity ratio of 0.01.

FormFactor (NASDAQ:FORM) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. The business had revenue of $197.47 million for the quarter, compared to analyst estimates of $195.01 million. Analysts expect that FormFactor will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jorge Titinger sold 6,770 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 12,970 shares in the company, valued at approximately $543,961.80. The transaction 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 business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total value of $283,933.80. Following the transaction, the director now owns 12,970 shares of the company’s stock, valued at $543,961.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total value of $185,240.00. Following the sale, the chief executive officer now directly owns 534,276 shares of the company’s stock, valued at $24,742,321.56. The disclosure for this sale can be found here. Insiders sold 14,770 shares of company stock valued at $672,894 in the last ninety days. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its holdings in FormFactor by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,800 shares of the semiconductor company’s stock worth $2,349,000 after acquiring an additional 200 shares during the period. Xponance Inc. boosted its stake in shares of FormFactor by 5.1% in the second quarter. Xponance Inc. now owns 4,925 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 241 shares during the period. Arizona State Retirement System grew its holdings in FormFactor by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 21,724 shares of the semiconductor company’s stock valued at $1,315,000 after purchasing an additional 331 shares in the last quarter. CWM LLC increased its stake in FormFactor by 25.5% during the 2nd quarter. CWM LLC now owns 1,823 shares of the semiconductor company’s stock worth $110,000 after buying an additional 370 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in FormFactor by 21.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,266 shares of the semiconductor company’s stock worth $137,000 after buying an additional 406 shares in the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

FormFactor Company Profile

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.