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

FormFactor, Inc. (NASDAQ:FORM) was the recipient of a large 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. Approximately 4.7% of the shares of the company are short sold. Based on an average daily volume of 800,200 shares, the short-interest ratio is currently 4.5 days.

Analyst Ratings Changes

Several research firms have issued reports on FORM. Citigroup raised FormFactor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $51.00 in a research note on Monday, January 6th. TD Cowen reduced their price target on FormFactor from $60.00 to $44.00 and set a “hold” rating for the company 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 equities research 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 an average rating of “Hold” and a consensus target price of $56.00.

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 shares were sold at an average price of $44.44, for a total value of $177,760.00. Following the completion of the sale, the chief executive officer now directly owns 522,531 shares of the company’s stock, valued at $23,221,277.64. This represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 12,000 shares of company stock worth $496,040. Insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC increased its holdings in shares of FormFactor by 134.4% in the 3rd quarter. Algert Global LLC now owns 53,037 shares of the semiconductor company’s stock valued at $2,440,000 after purchasing an additional 30,410 shares during the period. FMR LLC increased its holdings in FormFactor by 1,255.5% in the third quarter. FMR LLC now owns 116,426 shares of the semiconductor company’s stock worth $5,356,000 after buying an additional 107,837 shares during the last quarter. Citigroup Inc. increased its holdings in FormFactor by 59.4% in the third quarter. Citigroup Inc. now owns 105,797 shares of the semiconductor company’s stock worth $4,867,000 after buying an additional 39,419 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in FormFactor by 14.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,870 shares of the semiconductor company’s stock worth $362,000 after buying an additional 972 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in FormFactor in the third quarter worth approximately $818,000. Institutional investors own 98.76% of the company’s stock.

FormFactor Stock Down 1.2 %

Shares of FORM traded down $0.47 during mid-day trading on Monday, hitting $39.58. 680,850 shares of the company’s stock were exchanged, compared to its average volume of 751,955. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76. FormFactor has a fifty-two week low of $37.25 and a fifty-two week high of $63.63. The stock’s 50-day moving average is $42.97 and its 200-day 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 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.