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

FormFactor, Inc. (NASDAQ:FORM) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 3,600,000 shares, a growth of 12.1% from the December 15th total of 3,210,000 shares. Currently, 4.7% of the company’s shares are sold short. Based on an average daily volume of 800,200 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. TD Cowen decreased their price target on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC lowered shares of FormFactor from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Citigroup upgraded FormFactor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $51.00 in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.00.

FormFactor Stock Performance

Shares of FORM stock opened at $43.46 on Monday. The company has a quick ratio of 3.94, a current ratio of 4.76 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $42.77 and a 200-day moving average price of $46.00. FormFactor has a 52 week low of $37.25 and a 52 week high of $63.63. The firm has a market capitalization of $3.37 billion, a PE ratio of 24.98 and a beta of 1.08.

Insiders Place Their Bets

In other FormFactor news, CEO Mike Slessor sold 4,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $44.44, for a total value of $177,760.00. Following the completion of the transaction, the chief executive officer now owns 522,531 shares in the company, valued at approximately $23,221,277.64. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On FormFactor

A number of large investors have recently added to or reduced their stakes in FORM. State Street Corp increased its holdings in FormFactor by 1.4% during the third quarter. State Street Corp now owns 2,913,463 shares of the semiconductor company’s stock valued at $134,019,000 after buying an additional 39,784 shares during the last quarter. Geode Capital Management LLC grew its position in shares of FormFactor by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock valued at $95,105,000 after acquiring an additional 73,982 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of FormFactor by 8.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,651 shares of the semiconductor company’s stock worth $48,928,000 after purchasing an additional 79,191 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in FormFactor by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 886,103 shares of the semiconductor company’s stock worth $40,761,000 after purchasing an additional 32,889 shares during the period. Finally, Needham Investment Management LLC lifted its position in FormFactor by 8.6% during the third quarter. Needham Investment Management LLC now owns 620,000 shares of the semiconductor company’s stock valued at $28,520,000 after purchasing an additional 49,000 shares in the last quarter. Institutional investors own 98.76% of the company’s stock.

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.