FormFactor, Inc. (NASDAQ:FORM) Short Interest Update

29 Oct 2024, 19:58 by Sarita Garza · The Markets Daily

FormFactor, Inc. (NASDAQ:FORM – Get Free Report) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,810,000 shares, a drop of 13.0% from the September 30th total of 2,080,000 shares. Based on an average trading volume of 665,400 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.4% of the company’s shares are short sold.

FormFactor Stock Up 2.2 %

Shares of NASDAQ:FORM traded up $0.95 during mid-day trading on Tuesday, hitting $45.02. 344,169 shares of the company traded hands, compared to its average volume of 567,006. The stock has a market cap of $3.48 billion, a P/E ratio of 33.39 and a beta of 1.11. The company has a current ratio of 4.46, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. FormFactor has a 12-month low of $32.06 and a 12-month high of $63.63. The stock has a 50-day moving average price of $45.54 and a two-hundred day moving average price of $50.67.

FormFactor (NASDAQ:FORM – Get Free Report) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The company had revenue of $197.47 million for the quarter, compared to analysts’ expectations of $195.01 million. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. On average, equities research analysts forecast that FormFactor will post 0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FORM. Stifel Nicolaus lifted their target price on FormFactor from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. StockNews.com cut FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of FormFactor in a research note on Thursday, August 1st. DA Davidson raised their price objective on FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, TD Cowen raised their price objective on FormFactor from $48.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.63.

Get Our Latest Stock Analysis on FORM

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.93, for a total transaction of $203,720.00. Following the completion of the transaction, the chief executive officer now directly owns 523,187 shares in the company, valued at $26,645,913.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other FormFactor news, Director Jorge Titinger sold 6,770 shares of FormFactor stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total value of $283,933.80. Following the completion of the sale, the director now directly owns 12,970 shares in the company, valued at approximately $543,961.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mike Slessor sold 4,000 shares of FormFactor 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 completion of the sale, the chief executive officer now owns 523,187 shares of the company’s stock, valued at approximately $26,645,913.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,770 shares of company stock worth $854,014 over the last ninety days. 0.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FORM. Allspring Global Investments Holdings LLC boosted its position in FormFactor by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 338,999 shares of the semiconductor company’s stock worth $15,469,000 after purchasing an additional 18,375 shares during the last quarter. BNP Paribas Financial Markets boosted its position in FormFactor by 1.9% in the first quarter. BNP Paribas Financial Markets now owns 69,174 shares of the semiconductor company’s stock worth $3,156,000 after purchasing an additional 1,319 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in FormFactor by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 6,944 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 1,151 shares during the last quarter. GSA Capital Partners LLP purchased a new position in FormFactor in the first quarter worth $1,030,000. Finally, Texas Permanent School Fund Corp boosted its position in FormFactor by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 68,126 shares of the semiconductor company’s stock worth $3,109,000 after purchasing an additional 881 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

About FormFactor

(Get Free Report)