FormFactor, Inc. (NASDAQ:FORM) Short Interest Up 12.1% in January

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FORM. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $51.00 in a report on Monday, January 6th. TD Cowen decreased their target price on FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Finally, Needham & Company LLC cut FormFactor from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.00.

FormFactor Stock Down 1.2 %

FORM traded down $0.47 during trading hours on Monday, reaching $39.58. 680,850 shares of the stock traded hands, compared to its average volume of 751,955. The firm’s fifty day simple moving average is $42.97 and its two-hundred day simple moving average is $44.48. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 22.75 and a beta of 1.07. FormFactor has a fifty-two week low of $37.25 and a fifty-two week high of $63.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94.

Insider Activity at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.98, for a total value of $155,920.00. Following the completion of the transaction, the chief executive officer now directly owns 518,531 shares in the company, valued at approximately $20,212,338.38. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 12,000 shares of company stock valued at $496,040 over the last 90 days. Insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund raised its holdings in shares of FormFactor by 876.0% in the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company’s stock worth $14,876,000 after purchasing an additional 290,254 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of FormFactor by 29.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 586,700 shares of the semiconductor company’s stock worth $26,988,000 after purchasing an additional 134,170 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of FormFactor by 91.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 257,722 shares of the semiconductor company’s stock worth $11,396,000 after purchasing an additional 123,333 shares in the last quarter. Barclays PLC raised its holdings in shares of FormFactor by 351.9% during the third quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after acquiring an additional 113,296 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in shares of FormFactor by 59.3% during the third quarter. Eagle Asset Management Inc. now owns 302,363 shares of the semiconductor company’s stock valued at $12,729,000 after acquiring an additional 112,537 shares during the period. 98.76% of the stock is owned by institutional investors and hedge funds.

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.