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

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

Analyst Ratings Changes

A number of equities analysts recently commented on FORM shares. B. Riley increased their price target on FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Craig Hallum raised their price objective on FormFactor from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. StockNews.com downgraded FormFactor from a “buy” rating to a “hold” rating in a report on Friday, April 19th. TD Cowen raised their price objective on FormFactor from $37.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd. Finally, Needham & Company LLC raised their price objective on FormFactor from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.30.

Insiders Place Their Bets

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Monday, July 1st. The stock was sold at an average price of $59.00, for a total value of $236,000.00. Following the completion of the sale, the chief executive officer now owns 487,581 shares of the company’s stock, valued at $28,767,279. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $59.00, for a total transaction of $236,000.00. Following the completion of the sale, the chief executive officer now owns 487,581 shares of the company’s stock, valued at $28,767,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rebeca Obregon-Jimenez sold 4,833 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $57.59, for a total value of $278,332.47. Following the sale, the director now directly owns 10,598 shares of the company’s stock, valued at approximately $610,338.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,536 shares of company stock valued at $2,075,394. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in FormFactor by 21.8% during the second quarter. GAMMA Investing LLC now owns 2,266 shares of the semiconductor company’s stock worth $137,000 after purchasing an additional 406 shares in the last quarter. LRI Investments LLC purchased a new position in shares of FormFactor during the 1st quarter worth approximately $70,000. Castleark Management LLC increased its stake in shares of FormFactor by 1.2% during the 1st quarter. Castleark Management LLC now owns 86,870 shares of the semiconductor company’s stock worth $3,964,000 after purchasing an additional 1,050 shares in the last quarter. Grandeur Peak Global Advisors LLC acquired a new stake in FormFactor during the first quarter worth approximately $5,633,000. Finally, Kennedy Capital Management LLC boosted its position in FormFactor by 14.6% during the first quarter. Kennedy Capital Management LLC now owns 132,203 shares of the semiconductor company’s stock worth $6,032,000 after acquiring an additional 16,855 shares during the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

FormFactor Price Performance

Shares of FormFactor stock traded up $1.29 on Wednesday, hitting $62.22. The company’s stock had a trading volume of 273,513 shares, compared to its average volume of 521,303. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 4.51. FormFactor has a 1 year low of $29.50 and a 1 year high of $62.68. The firm has a fifty day moving average price of $55.38 and a 200-day moving average price of $46.80. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 46.52 and a beta of 1.11.

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