Short Interest in FormFactor, Inc. (NASDAQ:FORM) Increases By 14.6%

FormFactor, Inc. (NASDAQ:FORM) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,510,000 shares, an increase of 14.6% from the March 31st total of 2,190,000 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average daily volume of 463,600 shares, the days-to-cover ratio is currently 5.4 days.

FormFactor Stock Down 2.5 %

FormFactor stock traded down $1.13 during midday trading on Wednesday, reaching $43.46. The company’s stock had a trading volume of 126,936 shares, compared to its average volume of 450,907. FormFactor has a fifty-two week low of $24.88 and a fifty-two week high of $47.94. The company has a quick ratio of 3.52, a current ratio of 4.38 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.36 billion, a P/E ratio of 40.95 and a beta of 1.18. The business has a 50-day simple moving average of $43.80 and a 200-day simple moving average of $40.34.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $168.16 million for the quarter, compared to analysts’ expectations of $165.49 million. FormFactor had a return on equity of 2.43% and a net margin of 12.42%. On average, research analysts expect that FormFactor will post 0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FORM shares. Stifel Nicolaus upped their target price on shares of FormFactor from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday. Evercore ISI assumed coverage on FormFactor in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $50.00 price target for the company. StockNews.com downgraded FormFactor from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. TheStreet upgraded FormFactor from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $46.00 target price on shares of FormFactor in a research note on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, FormFactor presently has a consensus rating of “Hold” and a consensus price target of $43.33.

Insider Buying and Selling at FormFactor

In other FormFactor news, CFO Shai Shahar sold 10,000 shares of FormFactor stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the completion of the sale, the chief financial officer now directly owns 67,141 shares in the company, valued at $2,827,978.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other FormFactor news, CFO Shai Shahar sold 10,000 shares of FormFactor stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.12, for a total transaction of $421,200.00. Following the transaction, the chief financial officer now directly owns 67,141 shares of the company’s stock, valued at $2,827,978.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $43.38, for a total transaction of $173,520.00. Following the transaction, the chief executive officer now directly owns 499,781 shares in the company, valued at $21,680,499.78. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock worth $1,223,580 over the last three months. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On FormFactor

Several institutional investors have recently modified their holdings of the company. Tudor Investment Corp Et Al increased its holdings in shares of FormFactor by 368.7% during the 3rd quarter. Tudor Investment Corp Et Al now owns 83,760 shares of the semiconductor company’s stock worth $2,927,000 after buying an additional 65,889 shares during the last quarter. Dark Forest Capital Management LP boosted its position in FormFactor by 240.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 23,649 shares of the semiconductor company’s stock valued at $826,000 after buying an additional 16,702 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of FormFactor by 2.4% during the third quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock worth $341,007,000 after purchasing an additional 224,599 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of FormFactor by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 815,716 shares of the semiconductor company’s stock worth $28,501,000 after purchasing an additional 45,248 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of FormFactor during the third quarter worth about $301,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

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.