FormFactor, Inc. (NASDAQ:FORM) Short Interest Up 6.8% in September

FormFactor, Inc. (NASDAQ:FORM) saw a significant 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. Based on an average trading volume of 690,200 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

FORM has been the topic of a number of research analyst reports. StockNews.com cut shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. DA Davidson lifted their target price on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped 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. TD Cowen raised their price target on shares of FormFactor from $48.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, B. Riley boosted their price objective on FormFactor from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.63.

Insider Activity at FormFactor

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.93, for a total value of $203,720.00. Following the sale, the chief executive officer now owns 523,187 shares in the company, valued at approximately $26,645,913.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Jorge Titinger sold 6,770 shares of the firm’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 sale, the director now directly owns 12,970 shares in the company, valued at approximately $543,961.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.93, for a total value of $203,720.00. Following the transaction, the chief executive officer now owns 523,187 shares in the company, valued at approximately $26,645,913.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,770 shares of company stock worth $672,894. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of FormFactor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Riverview Trust Co acquired a new position in shares of FormFactor during the 1st quarter valued at about $28,000. Innealta Capital LLC acquired a new position in FormFactor in the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC purchased a new stake in shares of FormFactor in the 2nd quarter valued at approximately $43,000. LRI Investments LLC acquired a new stake in shares of FormFactor during the 1st quarter worth approximately $70,000. Finally, Covestor Ltd raised its position in shares of FormFactor by 3,951.3% during the 1st quarter. Covestor Ltd now owns 1,580 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 1,541 shares during the period. 98.76% of the stock is owned by institutional investors and hedge funds.

FormFactor Price Performance

NASDAQ FORM traded down $1.83 during trading hours on Tuesday, hitting $44.17. 462,695 shares of the company’s stock traded hands, compared to its average volume of 571,854. The company has a market capitalization of $3.41 billion, a PE ratio of 33.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.64. FormFactor has a 52-week low of $31.51 and a 52-week high of $63.63. The firm’s 50-day moving average is $46.79 and its 200-day moving average is $50.61.

FormFactor (NASDAQ:FORM) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. The business had revenue of $197.47 million during the quarter, compared to analyst estimates of $195.01 million. Equities analysts forecast that FormFactor will post 0.74 EPS 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.