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

FormFactor, Inc. (NASDAQ:FORM) saw a large growth in short interest during the month of 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. Based on an average trading volume of 548,300 shares, the short-interest ratio is currently 3.4 days. Currently, 2.4% of the shares of the company are sold short.

Insider Buying and Selling

In related news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was 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 owns 491,781 shares in the company, valued at approximately $21,515,418.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FormFactor news, Director Rebeca Obregon-Jimenez sold 4,833 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $57.59, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mike Slessor sold 4,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $43.75, for a total value of $175,000.00. Following the sale, the chief executive officer now directly owns 491,781 shares in the company, valued at $21,515,418.75. The disclosure for this sale can be found here. Insiders sold 37,536 shares of company stock worth $2,075,394 in the last 90 days. Insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in FormFactor by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,759,801 shares of the semiconductor company’s stock valued at $341,007,000 after buying an additional 224,599 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of FormFactor by 0.6% during the 1st quarter. Earnest Partners LLC now owns 6,091,217 shares of the semiconductor company’s stock worth $277,942,000 after purchasing an additional 37,781 shares during the period. Hood River Capital Management LLC grew its holdings in shares of FormFactor by 7.2% during the 1st quarter. Hood River Capital Management LLC now owns 2,079,052 shares of the semiconductor company’s stock worth $94,867,000 after purchasing an additional 140,223 shares during the period. Wellington Management Group LLP grew its holdings in shares of FormFactor by 81.1% during the 4th quarter. Wellington Management Group LLP now owns 1,927,281 shares of the semiconductor company’s stock worth $80,387,000 after purchasing an additional 862,885 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of FormFactor by 5.4% during the 1st quarter. Sei Investments Co. now owns 1,493,665 shares of the semiconductor company’s stock worth $68,156,000 after purchasing an additional 76,032 shares during the period. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

FormFactor Stock Up 2.1 %

Shares of NASDAQ:FORM opened at $62.22 on Friday. 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 business has a fifty day moving average of $56.16 and a two-hundred day moving average of $47.01. The stock has a market cap of $4.80 billion, a P/E ratio of 47.14 and a beta of 1.11. FormFactor has a 52-week low of $29.50 and a 52-week high of $62.68.

FormFactor (NASDAQ:FORM) last issued its earnings results 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). The company had revenue of $168.73 million during the quarter, compared to analysts’ expectations of $165.45 million. FormFactor had a net margin of 15.48% and a return on equity of 2.29%. On average, research analysts expect that FormFactor will post 0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FORM shares. Evercore ISI started coverage on FormFactor in a research report on Tuesday, April 16th. They set an “in-line” rating and a $50.00 target price on the stock. Citigroup raised their target price on FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. B. Riley raised their target price on FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, TD Cowen lifted 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. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, FormFactor presently has a consensus rating of “Hold” and a consensus price target of $49.30.

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.