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

FormFactor, Inc. (NASDAQ:FORM) was the recipient of a significant 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 company are sold short. Based on an average trading volume of 548,300 shares, the days-to-cover ratio is presently 3.4 days.

Insiders Place Their Bets

In other FormFactor news, Director Sheri Rhodes sold 13,319 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $56.02, for a total value of $746,130.38. Following the transaction, the director now directly owns 7,634 shares in the company, valued at $427,656.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Sheri Rhodes sold 13,319 shares of the stock in a transaction dated Tuesday, May 7th. The shares were 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 of the company’s stock, valued at $427,656.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was 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 of the company’s stock, valued at approximately $21,515,418.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,536 shares of company stock valued at $2,075,394. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Riverview Trust Co purchased a new position in FormFactor in the 1st quarter worth approximately $28,000. GAMMA Investing LLC bought a new position in shares of FormFactor during the 4th quarter valued at approximately $55,000. LRI Investments LLC bought a new position in shares of FormFactor during the 1st quarter valued at approximately $70,000. Covestor Ltd grew its position in FormFactor by 3,951.3% in the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 1,541 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in FormFactor by 19.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 260 shares during the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

FormFactor Stock Performance

Shares of FormFactor stock traded up $1.29 during trading on Wednesday, hitting $62.22. 273,513 shares of the company’s stock traded hands, compared to its average volume of 521,303. 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 1 year low of $29.50 and a 1 year high of $62.68. The stock has a market capitalization of $4.80 billion, a P/E ratio of 46.52 and a beta of 1.11. The business has a 50-day simple moving average of $55.38 and a 200-day simple moving average of $46.80.

FormFactor (NASDAQ:FORM) last posted its earnings results on Wednesday, May 1st. The semiconductor company reported $0.05 earnings per share 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 firm had revenue of $168.73 million during the quarter, compared to the consensus estimate of $165.45 million. As a group, analysts forecast that FormFactor will post 0.72 EPS for the current year.

Analysts Set New Price Targets

FORM has been the subject of several research reports. Craig Hallum lifted their price target on shares of FormFactor from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Citigroup raised their price objective on FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Evercore ISI started coverage on FormFactor in a research note on Tuesday, April 16th. They set an “in-line” rating and a $50.00 target price on the stock. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Needham & Company LLC lifted their target price on FormFactor from $46.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, FormFactor has a consensus rating of “Hold” and a consensus price target of $49.30.

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.