FormFactor, Inc. (NASDAQ:FORM) Sees Large Growth in Short Interest

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

FormFactor Price Performance

FORM opened at $44.17 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $46.47 and its 200 day moving average price is $50.62. FormFactor has a fifty-two week low of $31.51 and a fifty-two week high of $63.63. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 33.46 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

FORM has been the topic of several recent analyst reports. DA Davidson boosted their price target on FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their price target on shares of FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Tuesday, July 16th. B. Riley upped their price target on shares of FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, June 20th. TD Cowen raised their price objective on shares of FormFactor from $48.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of FormFactor in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.63.

Insider Activity at FormFactor

In other FormFactor news, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction dated 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 $543,961.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.93, for a total transaction of $203,720.00. Following the sale, the chief executive officer now owns 523,187 shares of the company’s stock, valued at approximately $26,645,913.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorge Titinger sold 6,770 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 12,970 shares in the company, valued at approximately $543,961.80. The disclosure for this sale can be found here. In the last three months, insiders sold 14,770 shares of company stock worth $672,894. Corporate 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. Bessemer Group Inc. boosted its stake in FormFactor by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 262,463 shares of the semiconductor company’s stock valued at $11,976,000 after purchasing an additional 17,079 shares during the period. UniSuper Management Pty Ltd acquired a new position in shares of FormFactor during the first quarter worth approximately $664,000. Teachers Retirement System of The State of Kentucky grew its holdings in FormFactor by 74.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 42,840 shares of the semiconductor company’s stock worth $1,787,000 after buying an additional 18,293 shares in the last quarter. Russell Investments Group Ltd. increased its position in FormFactor by 16.2% in the 1st quarter. Russell Investments Group Ltd. now owns 113,083 shares of the semiconductor company’s stock valued at $5,160,000 after acquiring an additional 15,756 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in FormFactor during the 1st quarter valued at $1,030,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

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.