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

FormFactor, Inc. (NASDAQ:FORM) was the recipient of a significant 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. Approximately 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 548,300 shares, the short-interest ratio is presently 3.4 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of FormFactor from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. StockNews.com lowered shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Evercore ISI initiated coverage on shares of FormFactor in a research report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 price target on the stock. Citigroup boosted their price objective on FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Needham & Company LLC increased their target price on FormFactor from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $49.30.

Insider Buying and Selling at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $43.75, for a total transaction of $175,000.00. Following the transaction, the chief executive officer now owns 491,781 shares in the company, valued at approximately $21,515,418.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $43.75, for a total value of $175,000.00. Following the completion of the transaction, the chief executive officer now directly owns 491,781 shares in the company, valued at $21,515,418.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $746,130.38. Following the sale, the director now directly owns 7,634 shares in the company, 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 valued at $2,075,394 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several hedge funds have recently modified their holdings of FORM. Riverview Trust Co bought a new position in FormFactor during the first quarter valued at about $28,000. GAMMA Investing LLC bought a new position in shares of FormFactor during the 4th quarter valued at about $55,000. Quadrant Capital Group LLC grew its stake in shares of FormFactor by 19.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 260 shares during the last quarter. LRI Investments LLC bought a new stake in shares of FormFactor in the 1st quarter worth approximately $70,000. Finally, Covestor Ltd lifted its stake in FormFactor by 3,951.3% during the first quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 1,541 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

FormFactor Stock Performance

Shares of FORM opened at $62.22 on Thursday. The firm has a market capitalization of $4.80 billion, a PE ratio of 47.14 and a beta of 1.11. The company has a quick ratio of 3.67, a current ratio of 4.51 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $55.79 and a 200 day moving average price of $46.90. FormFactor has a 52-week low of $29.50 and a 52-week high of $62.68.

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

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.