Short Interest in FormFactor, Inc. (NASDAQ:FORM) Rises By 26.0%

FormFactor, Inc. (NASDAQ:FORM) saw a significant increase in short interest during 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. Approximately 3.0% of the company’s shares are short sold. Based on an average trading volume of 602,700 shares, the days-to-cover ratio is currently 3.8 days.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $45.28, for a total transaction of $181,120.00. Following the completion of the sale, the chief executive officer now owns 530,276 shares in the company, valued at $24,010,897.28. The trade was a 0.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FormFactor

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in FormFactor by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,067,174 shares of the semiconductor company’s stock worth $95,105,000 after purchasing an additional 73,982 shares in the last quarter. Barclays PLC boosted its holdings in shares of FormFactor by 351.9% in the third quarter. Barclays PLC now owns 145,492 shares of the semiconductor company’s stock valued at $6,692,000 after buying an additional 113,296 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of FormFactor during the third quarter worth $550,000. Main Management ETF Advisors LLC acquired a new stake in shares of FormFactor during the third quarter worth $750,000. Finally, XTX Topco Ltd acquired a new stake in shares of FormFactor during the third quarter worth $503,000. Institutional investors own 98.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

FormFactor Stock Performance

FORM stock opened at $37.80 on Friday. FormFactor has a 1-year low of $36.11 and a 1-year high of $63.63. 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 firm has a market cap of $2.93 billion, a PE ratio of 21.72 and a beta of 1.12. The business’s 50-day moving average price is $43.55 and its two-hundred day moving average price is $50.39.

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.