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

FormFactor, Inc. (NASDAQ:FORM) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,280,000 shares, an increase of 26.0% from the October 15th total of 1,810,000 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average daily volume of 602,700 shares, the days-to-cover ratio is presently 3.8 days.

FormFactor Stock Down 4.8 %

Shares of NASDAQ FORM opened at $37.80 on Friday. FormFactor has a 12-month low of $36.11 and a 12-month high of $63.63. The company has a market cap of $2.93 billion, a P/E ratio of 21.72 and a beta of 1.12. The company has a current ratio of 4.76, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $43.55 and a 200 day moving average price of $50.39.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $46.31, for a total transaction of $185,240.00. Following the completion of the sale, the chief executive officer now directly owns 534,276 shares in the company, valued at $24,742,321.56. This represents a 0.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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 company. Advisors Asset Management Inc. boosted its position in FormFactor by 99.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 309 shares during the last quarter. Innealta Capital LLC purchased a new position in FormFactor in the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC bought a new position in shares of FormFactor during the second quarter worth about $43,000. Quarry LP lifted its position in shares of FormFactor by 131.7% during the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 523 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of FormFactor during the first quarter worth about $70,000. 98.76% of the stock is owned by hedge funds and other institutional investors.

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.