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

Key Points

• Short interest in FormFactor dropped sharply in June, falling 37.2% to 2.04 million shares as of June 30. That leaves about 2.6% of the company’s stock sold short, with a short-interest ratio of just 0.8 days.
• The company posted stronger-than-expected quarterly results, reporting EPS of $0.56 versus the $0.45 consensus estimate and revenue of $226.14 million, up 31.9% year over year. FormFactor also provided Q2 guidance of $0.57 to $0.65 EPS.
• Analyst sentiment remains largely positive, with multiple recent upgrades including buy and outperform ratings. The stock’s average Wall Street price target is $132.45, and the consensus rating is “Moderate Buy.”

FormFactor, Inc. (NASDAQ:FORM - Get Free Report) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 2,043,126 shares, a drop of 37.2% from the June 15th total of 3,253,513 shares. Approximately 2.6% of the company's stock are sold short. Based on an average daily trading volume, of 2,452,667 shares, the short-interest ratio is presently 0.8 days.

FormFactor Price Performance

FORM traded down $0.76 during trading on Friday, reaching $106.35. 830,858 shares of the company were exchanged, compared to its average volume of 1,731,947. The company's 50-day moving average is $129.96 and its two-hundred day moving average is $108.48. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 122.55 and a beta of 1.22. The company has a quick ratio of 3.69, a current ratio of 4.55 and a debt-to-equity ratio of 0.01. FormFactor has a 12-month low of $26.08 and a 12-month high of $160.27.

FormFactor (NASDAQ:FORM - Get Free Report) last posted its earnings results on Wednesday, April 29th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. FormFactor had a net margin of 8.14% and a return on equity of 9.31%. The business had revenue of $226.14 million for the quarter, compared to analysts' expectations of $225.54 million. During the same period in the prior year, the company posted $0.23 EPS. The business's revenue for the quarter was up 31.9% compared to the same quarter last year. FormFactor has set its Q2 2026 guidance at 0.570-0.650 EPS. Research analysts forecast that FormFactor will post 2.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on FORM. TD Cowen boosted their price objective on FormFactor from $80.00 to $150.00 and gave the stock a "hold" rating in a research report on Thursday, April 30th. Weiss Ratings cut FormFactor from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday. Craig Hallum raised shares of FormFactor from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a report on Tuesday, May 12th. Zacks Research upgraded shares of FormFactor from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 26th. Finally, Evercore upgraded shares of FormFactor from an "in-line" rating to an "outperform" rating and set a $155.00 price objective for the company in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $132.45.

Insiders Place Their Bets

In related news, Director Rebeca Obregon-Jimenez sold 3,828 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $126.47, for a total value of $484,127.16. Following the sale, the director owned 7,875 shares in the company, valued at $995,951.25. This represents a 32.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dennis Thomas St sold 2,800 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $151.49, for a total value of $424,172.00. Following the completion of the sale, the director directly owned 29,073 shares of the company's stock, valued at approximately $4,404,268.77. This trade represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,534 shares of company stock worth $4,864,118 over the last three months. Insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FORM. Los Angeles Capital Management LLC bought a new stake in shares of FormFactor in the 4th quarter valued at about $25,000. UMB Bank n.a. grew its position in FormFactor by 128.9% during the 4th quarter. UMB Bank n.a. now owns 499 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 281 shares during the last quarter. Torren Management LLC purchased a new position in FormFactor in the 4th quarter worth approximately $41,000. Kestra Advisory Services LLC bought a new stake in FormFactor in the fourth quarter valued at approximately $53,000. Finally, Clearstead Advisors LLC boosted its stake in shares of FormFactor by 58.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,050 shares of the semiconductor company's stock valued at $59,000 after purchasing an additional 389 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.

About FormFactor

FormFactor, Inc NASDAQ: FORM is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor's product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.

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