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

FormFactor, Inc. (NASDAQ:FORM) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 2,280,000 shares, a growth of 26.0% from the October 15th total of 1,810,000 shares. Based on an average daily volume of 602,700 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.0% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research analysts have weighed in on FORM shares. TD Cowen cut their price objective on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC lowered their target price on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com lowered shares of FormFactor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, DA Davidson boosted their target price on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.38.

FormFactor Trading Down 4.8 %

FORM traded down $1.89 on Friday, hitting $37.80. The company had a trading volume of 1,058,642 shares, compared to its average volume of 590,252. The firm has a market cap of $2.93 billion, a P/E ratio of 21.72 and a beta of 1.12. FormFactor has a 1 year low of $36.11 and a 1 year high of $63.63. The company’s fifty day moving average price is $43.55 and its 200 day moving average price is $50.35. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $46.31, for a total value of $185,240.00. Following the transaction, the chief executive officer now owns 534,276 shares of the company’s stock, valued at approximately $24,742,321.56. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its holdings in shares of FormFactor by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 6,944 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 1,151 shares during the period. SG Americas Securities LLC acquired a new stake in shares of FormFactor in the first quarter valued at approximately $123,000. Swiss National Bank boosted its holdings in shares of FormFactor by 0.4% in the first quarter. Swiss National Bank now owns 153,600 shares of the semiconductor company’s stock valued at $7,009,000 after acquiring an additional 600 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of FormFactor by 16.2% in the first 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, ProShare Advisors LLC boosted its holdings in shares of FormFactor by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,574 shares of the semiconductor company’s stock valued at $711,000 after acquiring an additional 1,069 shares during the period. 98.76% of the stock is owned by institutional investors and hedge funds.

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.